"locking in" a buyer before purchasing a rehab property

General Real Estate Investing
1

In reviewing other threads, I see the majority of people seem to be of the mindset that it would be best to “lock in” a buyer of the property before I purchase a rehab property, so that after I purchase it, rehab it, and get it ready, they would buy it from me for a pre-determined price, and then they could live in it or rent it out themselves for cashflow.

How would this best be done, finding a buyer for the house BEFORE I buy it? Are there investors here, that if I run the numbers and show the cashflow for my area (No. VA) before I purchase the property, that would agree to purchase it after the rehab for income? Networking is not my forte, so I am trying the best I can to see how to work this.

Thanks,

2

This is really bigger topic than people think. If you never done a deal, it is pointless to find buyers because you have nothing to sell them nor do you have the confidence and know how to find them these deals.

If you find a good deal, you will find buyers for it. If you can consistently find deals, then you will naturally build a buyers list and will be able to adjust your marketing to them.

If I had to choose between spending my money and/or time on finding buyers versus finding sellers, I would concentrate on finding sellers since finding buyers is a natural by product of finding sellers.

Hope this helps.