I used to see a lot of “I buy houses” sign boards all over the place near I live and I don’t see them anymore for the last year or so. Is this because investors are expecting a worse turn ahead in the RE market? I think this could be a good time for investors to step in, though I don’t see that happening. Wondering what you folks think?
We cant expect investors to invest when the Government sees investors as rich villians.
The time to buy is when nobody else wants to buy. Unless your made of gold, good luck getting financing.
In my experiences, “most” of the “I buy houses” …actually don’t/didn’t buy houses but were trying for sub2 with 0 down or assignments/wholesaling. With so many homeowners under water, “most” sub2’s just won’t work and with bank’s tightening up lending standards, assignments, wholesaling/flipping is getting tougher and tougher and driving out a lot of the lightweight investors.
Also, I’m betting that in this economy a lot of noobs no longer have the money to spend on guru courses that advocate bandit signs as a get rich quick scheme.
It’s possible that your city has had a crack down and is removing signs and issuing fines.
The we-buy-houses people who used to “subject to” are trying to buy short sales now. Same people, still busy, slightly different tactic.
Subject to doesn’t work so well when so many motivated sellers are so badly under water. Gosh, they’d all be thrilled to sell subject to.
Yes I have noticed there were a major shortage of these signs when I was looking for a mentor.
The city of Mobile is real strict on any signs.Realtors can’t even put open house signs out until the day before.The outskirts,in the county is loaded with signs though.I think we have around a two year window before intrest rates skyrocket to make some deals happen,then it’s gonna get rough.
I say get busy,get as much done before the rates go up terribly.It’s really not a matter of if,it’s when.
Agree. Interest rates will go up. It has to. That will bring down the RE prices or inflation will go up…
Investors come and go ALL THE TIME!!! the true players are still out there making it happen. The market is fantastic right now and always will be. Its the mind set of people that will make them failures in this business,
Nate-WI
WE’RE OUT THERE!!! And we’re making more MONEY than EVER!!!
The answer to your question lies in the MARKETING SECTION…
Look at what people are writing about their experiences with BANDIT SIGNS…
THEY DON’T WORK. The only calls you’ll get are from CODE ENFORCEMENT informing you of the daily fine rates for your new signs.
Of coarse there are LESS investors out there now…You actually need CAPITAL to buy property again!!!
Imagine??? Needing MONEY to buy REAL ESTATE!! :shocked
I can tell you this…In 20+ years in the business…
I HAVE NEVER SEEN SUCH OPPORTUNITY!!!
People (as usual) are GIVING AWAY houses at EXACTLY the time they should be BUYING THEM!!!
Forget the bandit signs…It’s a complete waste of your time…
THINK…THINK…THINK
BE CREATIVE…
How do you CONTACT people that have homes WITH EQUITY that they want to sell???
WHO might come into CONTACT with these folks???
How about OIL DELIVERY DRIVERS…These guys get called to put 30 gallons of oil in a tank and it’s a COD…Do you think these guy’s might know of a few houses that may turn into deals for you??? Do you think a guy making $10/hour might be interested in getting $2000 from you if that lead they bring you turns into a PURCHASE???
THEY WILL!!!
:biggrin
As always your mind works “ahead of the curve” like they say fdjake. How about chimney workers, air duct, or ac workers? I’m just thinking more and more about who has more contact with peoples homes. Pizza delivery man or comcast worker?
But then again how can you offer some1 right now 2K dollars if your broke? The answer is very obvious to get your butt and get to work!! duh :rolleyes. But you know what I mean, right now is perfect, will it still be perfect in a year or two from now? Heard unemployment has past the 10%, something that hasn’t happened since 1983. Lots of oppurtinities for those with Capital.
Don’t let a lack of capital keep you from joining in…
Here’s how you play this…
Develope your CONTACTS (chimney sweeps, pizza delivery guys, ANYONE that interacts with HOMEOWNERS)
As long as these guys get PAID they really don;t care if it’s when YOU sell the property to an investor or when you ASSIGN your contract…Just make sure you PAY them what you told them you would.
Let’s say you find a property that the owner wants $50K for…It needs $20K worth of work but once finished it’s value climbs to $140,000…
At that point you have the owner SIGN a Purchase and Sales agreement with you that has an ASSIGNMENT CLAUSE IN IT…Basically that let’s you SELL that sales agreement to ANOTHER INVESTOR (ASSIGNMENT) for what ever FEE you can get…In this example ANY investor would JUMP at this house for $70K…They’d dump $20K into it and make themselves a quick $50K…
You make $20K (the difference between YOUR sales agreement…$50K…and what the INVESTOR will pay you…$70K) And don’t kid yourself…They WILL pay…Because YOU aren’t about to TELL THEM you don’t have the MONEY to buy it…You’re going to tell them you have NUMEROUS deals going and you just want to blow this one out FAST. Tell them they can buy it NOW for $70K…OR you’ll list it on the MLS and they can BID for it with everyone and their brother!!! Believe me…that LAST THING these guys want is this property hitting the MLS…Not only are they competing with other INVESTORS…They will also be competing with RETAIL BUYERS that want to LIVE IN THE HOME…
NOT GONNA HAPPEN…That sucker will SELL faster than you can type the word.
The NUMBERS are all that matters…If you find a REALLY GREAT DEAL…
IT WILL SELL…FAST!!!
Remind me not to bid against fdjake