Hello all, I am packaging Short Sales and am running into the number one (1) big problem, who to sell them to. Everybody is an investor until they have to put the money up. Apparently I am dealing with the wrong people. Can anybody help me with this? How do you find the true, serious investors? I seem to keep putting my business on hold because I am afraid of ruining my credibility with the banks. I appreciate any feedback
thank you
jbl
Hello,where are you and your properties located at? I’m in San Diego Ca.
before you buy a property you have to find an investor and a buyer. what exactly are you intentions once you acquire the property - wholesaling, rehabbing, option for lease to own.
you cannot buy a property without knowing your buyers and where they want to live because if your intention is wholesaling, you want to be able to ASSIGN the contract to your buyer without you qualifying for a loan.
my best advice, find a QUALIFIED BUYER and knowing their wants first prior to acquiring properties, then put the property in contract with your exit strategy.
if you want an investor, you have to show them the numbers before they will lend you the money.
hope this helps
thank you for your responses.
we are located in nj
Ezprops -I’m in So. CA and so far, the only motivated sellers I’ve come in contact with are over-leveraged, behind in payments and believe their homes are worth more than they truly are. Short-sales are the only thing I can do with these. If you’ve tried hard money as a back-up plan, like I have, you’ll probably find that they want too much money up-front. I’m going to get a buyers list going ASAP and hope that there’s someone who will want my short-sale property. My only other back-up plan is to find wholesalers who would be interested.
Thank you for your response here and good luck to you.