Can a house be flip from craigslist

if a house is posted on craigslist can it be flip? :banghead

Yes! All depends on how you structure the process. A house can even be wholesales multiple times from one wholesaler to another before the end buyer purchases it. Once you have the property UNDER CONTRACT you can flip it to someone else who may have a more extensive or different buyers list than yours. They can take a cut by then adding their fee into the final sales price.

I had one newbie wholesaler try to sell me houses listed on MLS! This is a very bad idea as she did not have the properties under contract she was trying to wholesale. Once you have a property under contract, you control it and no one can steal the deal by going directly to the seller with a better offer than yours.

Similar subject was being discussed at yahoo answers last week. I can post the link if needed.

In fact, craigslist is an excellent place to locate wholesale properties. Just make sure that the property that is listed is not also listed with a real estate agent and part of the MLS system. Many real estate agents list their properties on craigslist. Wholesaling properties that are part of the MLS system can be very difficult.

I agree with campbellsimon. Craigslist is one of the good places to look for leads. Just make sure the ad is posted by the owner himself. With practice, you’ll get better at telling this just by looking at the ad. But if not sure, you can always email and call. In fact, you should always do that and get a hold of the owner. These are free leads that are updated as well. Take advantage of it. :smile

Yes you sure can with ease too! Always look for FSBO! Lots of these deals on craigslist are being sold by wholesalers, so you should be able to find a deal at a good enough price where there is enough profit margin for both wholesalers to walk away from the closing table happy.

  1. any house can be flipped
  2. make sure your contract is fully assignable

I think any house can be flipped on Craigslist because this advertising website contains a huge amount of database and if the homeowner doesn’t provide accurate details of the listing property then the flipping of property case arises.Another reason is that it may be possible that the person has provided the same listing which is already listed in the website.

If for some reason a contract is not assignable, (pesky real estate agent, property is a REO) keep in mind a double closing may be an option. But someone will have to pay extra for 2 closings. Make sure to work that out before you get to the table.