I had a quick question about all these signs I see about “We Buy Houses for Cash” or “We Buy Houses, Any Condition, Any Situation”. I’m a newbie to investing, so my question is, would it be a good idea to get a purchase contract on a home and then call one of these type businesses and sell it to them for a profit? Or even just get information on a home and I guest sell the info to them for a small finders fee? Any responses would be greatly appreciated.
Before you start getting houses under contract, you need to call these ads yourself and speak to the investor directly. You need to know what they buy, and how much they’ll pay (you) for properties. Otherwise, you might end up with unsalable contracts because you bought it for too much to resell to investors.
As far as selling info, most investors don’t buy info. They’ll pay you a finder’s fee upon a successful closing of a deal that you brought to them, but they won’t pay you upfront for the info.
Thanks for the advice Roger J. I’ll call a couple of them to get info on what types of homes they buy and for what price.
You could get a finder’s fee, it is called Bird Dogging, Barry Grimes has a free ebook, what you do is go out and find houses(Most of the time, FSBOs) and if the company closes on it, you will get a small fee normally in range of 200$ to 1000$. But most of the time, those companys are trying to get good deals so that they could wholesale or sub2 the houses. You could do contract assignments for a couple thousand with them.
If I was just getting started, I would be BOLD. Put a property under contract, call a “We Buy Houses, Ugly or Not” wholesaler, then just mark the price up a few thousand, and sell it to them. Do a double closing. These we buy houses wholesalers probably have hundreds of qualified buyers that can pay cash and close quickly.