help, lots of "buyers" and need properties for them

Bird Dogs, Wholesaling
1

Hi Everyone,

I am asking for assistance for this situation: family needs house, they have bad credit but a good income. offered for rent would be approx $2000/month.

could someone please help me on what should be my next move??

i would like to do a lease option, or purchase…but what would be the QUICKEST way to find a property?

any solutions/assistance would be greatly appreciated…i really want to help this family

thanks in advance

j

:help

2

Do you have the money to purchase a wholesale property from the bank? If you do then you can purchase one and lease it to them.

Or you could get financed for a wholesale property, get it at a good rate with a low monthly payment and then when they pay you 2K each month, pay your mortgage payment and the rest is positive cash flow…

3

thanks so much…i truly truly truly appreciate you takin the time to get back to me…i think i will check into the purchase and such…oohhh boy…yes, i am nervous…lol!

4

If you’re on this forum it sounds like you’re working backwards. You’re trying to act like a buyer agent. You should be signing up deals and then assigning them to other investors or end buyers.

5

What area are you in. You say you have new buyers but where are theylooking to buy. For example, I’m in GA and you are? You say they are willing to pay up to 2000K a month that’s not bad especially if they have bad credit. Do you know how many bed rooms, baths, in other words the buyers wants.

6

I am in Mass., so $2000 is about right, depending on price of course and d/p. I WISH I was in GA, i know the house prices are soo much more affordable too…

7

I say you should do a lease option and have them get their credit together. If you do a purchase, it may work, but I’d rather work with people who have taken the steps to fix their credit.

Also…

U may want to hunt around in the lease option section of this forum.

Good Call Demos L.

However, He wouldn’t really be acting like a buyer’s agent per say, unless he is representing the buyers. An investor should only represent themselves in a deal.

There is no problem in finding a buyer first and then finding the deal. Like you said, it’s backwards. Some Mentors actually teach this method. I have 2 Mentors and one teache to find the deals first and the other teaches to find the buyers first. lol It’s fine with me though because I just put the two together and make it happen. Both methods are effective.

It just needs to be clear when it comes to representation, so you don’t get into trouble.

8

Hey Guys, new guy here. I have been studying the LeGrand info and I hope I’m ready to take the plunge and “Make a Mess” as it were. I’ve been to some of the local REI clubs in my area, Northern NJ, but have had a hard time finding a mentor. I don’t mind giving away deals to learn and think I have a knack for finding them, I’m a real estate appraiser, but I need someone to work with, any advise. Thanks.

9

I agree with lamar, with all I learned on this forum. A lease option will be perfect for them. But you have to know what they need. Ex 2 bedrooms 1 bath. If they children, they want alot of room for growth. So lease option and let them fix their credit. :brow