Reo; Short Sale Flips A Little Help

Foreclosures, Short Sales, Tax Foreclosures
1

Hello Everyone,

I am a newbie investor and my stragedy is to flip Reo’s, and Short Sales. I have a few questions for the panel.

  1. Should I create a Buyers List before I make offers on properties? And if so, what would keep an Investor from getting the property under contract before I do, if the Investor is wanting property information once I market to them and especially if the properties are currently listed on the MLS?

  2. What should be the proper sequence of events to set up a deal with a End Buyer?

I appreciate any input. Thanking you in advance :biggrin

2

A buyers list is most important and don’t tell them about a property unless you have it under contract. Herbster

3

Thanks Mr. Herbster for your input. Another question…
When I market the property to my end buyer while I have it under contract, how do I get out if the property does not fit the end buyers criteria or if the end buyer doesn’t go to closing? Thanks again. :biggrin

4

In my opinion the most used and widely accepted inspection clause would work. make sure its in your contract. There are a lot of weasel clauses out there but most don’t fit my idea of being professional. Herbster