Flipping properties from long distance.

Bird Dogs, Wholesaling
1

How does one flip properties from long distance without ever being in the same state? I find it impossible that people can locate a deal in their home state or find another deal in another state via internet and get the homes under contract from the sellers and assign that property to an end buyer 100’s and 100’s of miles away. And they don’t even have to be present at a closing table to collect those big assignment checks.

Does anyone else know about this? If you do explain how this can be done.

2

This can be done, I am doing it right now.

I am currently wrapping up a project with an investor who is out of town. As a realtor I locate the deals for the money investor. Once we find the deal and close I bring in my partner who can do an excellent remodel for a great price…he’s used to working with investors ;). We manage the project from A to Z for a fee upon the close of escrow. The fee varies on price point. The investor does not have to be involved in the process aside from receiving updates and making decisions where they choose to. It’s a win win situation. We all make money.

3

Hi,

Sarah I am sorry to tell you but that is not fix & flipping properties from long distance! What you state is you and your partner fix & flip homes for cash (Financial) investors from out of state! This is providing a service but the investor who is out of town can not be considered the property flipper or fix & flipper!

My idea of flipping properties out of state is we provide the project management, we provide the schedule, we provide the scope and construction sub contracts, and we provide draws according to percentage of contract completion! We orginize and provide airfare, hotel, rental car and expenses to manage our own projects in another state or country!

We specify finishes, colors, appliance package and ammenities! We don’t pay to have someone provide these services as the investor just becomes a cash provider to you for an investment and has no real control, is not the flipper and provides no input when someone else is doing the work!

It is also likely that the construction scope is greatly expanded and the budget enlarged when your working with someone else’s money, therefore the one really making the profit is you and your partner!

Buying realtor, partner for construction and management, selling realtor! Which basically provides zero checks and measures to ensure that sub contracts, materials, and schedule are provided at a competitive bid, best price and stacked schedule where you have 6 or 8 or 10 sub’s working on the property at the same time!

Yes it can be done, we as investors need to choose to be active in our own fix & flip and provide guidence, scope and schedule to our own subs and ensure we are making a real profit rather than a token profit!

Money Investor is completely different and not a fix & flipper or flipper they are entirely two different things!

I would have been more impressed if you said I help investors get competitive bids from General Contractors willing to work with investors for unit pricing and provide any part of the management services working with the investor to hold down cost’s and increase profits!

In fact now that I re-read the original post he’s not even refering to fix and flip he’s refering to contracting and wholesaling properties from a distance which is easy to do provided you perform proper due diligience!

                GR
4

My things is this. How do you present the contracts and get them signed by the buyers and sellers if you all are in different states? Not only that. In who’s state does the deal get closed at the title company? For example, I live in state A. I find a seller how has a property that I want to get under contract, which is located in state B. I find a buyer who lives in state C. Which of our locations does the all the paperwork get sent over to the title company? State A, state B, or state C?

Do you mail, email, or fax all the contracts to out of state buyers and sellers to get them signed and returned back to you? Then you send the papers to whoever does the closing?

I need to know all this because I may have found a buyer out of state who may be interested in buying homes in my state.

5

My things is this. How do you present the contracts and get them signed by the buyers and sellers if you all are in different states? Not only that. In who’s state does the deal get closed at the title company? For example, I live in state A. I find a seller how has a property that I want to get under contract, which is located in state B. I find a buyer who lives in state C. Which of our locations does the all the paperwork get sent over to the title company? State A, state B, or state C?

Do you mail, email, or fax all the contracts to out of state buyers and sellers to get them signed and returned back to you? Then you send the papers to whoever does the closing?

I need to know all this because I may have found a buyer out of state who may be interested in buying homes in my state.

6

Hi,

Grasshopper; when the student gains the experience, education and expertise and has developed over time the tools and desire to invest in more sophisticated area's of real estate, the answers will already be in your mind!


              GR