Finding Investors
The more I read about wholesaling the more interesting that it looks. My question is... where do you find the investors to sell the properties to? Say I pick up a 65-70% LTV deal and want to turn it. I am not in a position, at this time, to get stuck with the property. I guess this is the kind of thing that scares me about taking that "big step" to get started. I'm sure that I am not the only one. Appreciate any advice to help me get over this hump. Thanx...
Hello Maggiems, If you can locate property at 65 to 70% ltv, just ask for a per centage of the selling price back as your finders fee, say one per cent. I tell you investors will be knocking on your door. If we were in the same part of the country and you could find deals like this, then we would be able to work together.
On the other side of the coin, I can not see why you can not structure the deal some kind of way with that ltv rate. I am sure you are aware of the fact that it takes no-money to purchase real estate and that you do not need credit to do the deal. Just try this, submit a LOI (letter of intent) to the seller and see what happen. Good Luck
Thanx for the hasty reply Vern. I would presume that it would be fairly easy to unload deals with that LTV. I just would like to do a couple of quick cash deals first. Still tho... I don't know where the investors are to offer deals to. I also presume that investors wouldn't be too interested in deals that were much above the referenced LTV. Thanx again... bill
OK Bill, Just list your e-mail address in your next message to this board and see if anyone contacts you. I really don't see this as advertisement at this point. I see it as two members getting together to assist one another. Once you find a local investor in your area then you all can work out the numbers.