We are still learning all of th ropes with the real estate wholesale business. Our question is: once we get a property under contract with our realtor, can we then utilze the various “we buy houses” on line to list our property for sale there in the hopes of getting it bought by an investor/handyman or is it more effective to just run a “handyman special” ad. Thanks in advance for any feedback on this question.
The “we buy house people” around me keep don’t pay well. I view the business as a means to buy property for a discount (e. g. preforeclosures, pre-bankruptcy, divorce, probate). If you sell to the “we buy” people and they sell to an investor who then sells at retail, each person is taking a cut along the way. That money is yours. A RE agent might get you a better price if a place doesn’t need much work. If a place does need work, offer it to members of your local REIA who do rehab work if you can’t do the work yourself. Either sell to rehabber or retail buyer. Don’t use a middle man unless you can’t move the property yourself.
i concure you found the deal dont let someone else profit from your work
Once you get a property under contract, put out a lot of bandit signs with the deal, then post it on Craigslist many times… If that doesn’t work, and if it really is a deal, then you could definitely sell it to another prominent “We Buy Houses” wholesaler in the are…they shouldn’t be hard to find.
I would say don’t look to “we buy houses” as a first choice. Chances are those people will try to undercut you on price. Those indivduals want great deals in their favor only. try posting a bandit sign like this where ever you can:
Great Investment Opportunity!
Home value: $XXXXX
Call today to take a look!
If you just do the breakdown and keep it simple you will most likely get the kind of people you want. You can also advertise it this way on places like Craigslist. Good Luck! :biggrin
I have to agree with the advice to try and avoid the “We Buy Houses” investors. I am a “We Buy Houses For Cash” investor (motto: Real Cash, Real Fast) and I will only buy at a huge discount.
Dont just concentrate on investors. We suck to deal with and need to much spread lol.
If its a fsbo deal I get it on the MLS right away, craigslist, zillow, postlets.com, agent blasts via email and text, my website, etc. etc.
You would be amazed at what owner occupants will pay for the same houses vs. investors…