Make your sales contract dependant on the house appraising for at least ___________ by an appraiser of your choice. Just ad this to the special clauses, or ad an addendeum to the contract.
Quote:
On 2005-09-27 22:24, roboxking wrote:
Did you use effective comps? How is market feasibility like in your area? (do people buy in september?)
What is your competition like? What forms of marketing are you currently utilizing?
Comps were given by the realtor; the location is in a desirable location; competion varies in price from $345k to as much as $415k in the area. The realtor uses MLS, magazines, internet, open houses for marketing. Thanks 4 ur reply
Im a newbie but in my way of thinking there are many different ways you can go Depending on how you intent to use it for investment?
It all starts with Putting some creative ads in the paper.
You Could do a lease option to releave you from making the monthly payments. (get a sizeable payment for option consideration and full asking price when or if they exercise their right, if not lease option it again and pocket some more option money)
wholesale sale it and take a smaller cut. Or rent it out for investment property.
You probly want to sell it for a sizeable profit, I would put an ad in the paper that say something like " I have houses in foreclosure, Investors Wanted!" and build a buyers list and send out fact sheets. Your phone will ring off the hook!!!
What I’ve been reading and hearing all over the country is people advertise the house at a really low value to attract all the buyers and investors. The investors bid it up to what they are willing to pay the 65%-75% range but inevitable the traditional homebuyer will outbid the investor. The only bad thing is you will have to wait on their mortgage company. I’ve been hearing people are paying fmv for fixer uppers at auctions.
There is an interesting book out called how to sell you home/house in 5 days. It intrigued me because I fancy myself more of a tax sale auction investor but the methodology he advocates in his book is the opposite of what is taught by tax sale gurus LOL! People have to make sure they make the distingushment between the tax lien/deed auction and the private auctions.
Make your sales contract dependant on the house appraising for at least ___________ by an appraiser of your choice. Just ad this to the special clauses, or ad an addendeum to the contract.
Thank you for your responses, I really appreciate the advice!
Did you use effective comps? How is market feasibility like in your area? (do people buy in september?)
What is your competition like? What forms of marketing are you currently utilizing?
Have you tried offering the property through auctions?
Quote:
On 2005-09-27 22:24, roboxking wrote:
Did you use effective comps? How is market feasibility like in your area? (do people buy in september?)
What is your competition like? What forms of marketing are you currently utilizing?
Comps were given by the realtor; the location is in a desirable location; competion varies in price from $345k to as much as $415k in the area. The realtor uses MLS, magazines, internet, open houses for marketing. Thanks 4 ur reply
Im a newbie but in my way of thinking there are many different ways you can go Depending on how you intent to use it for investment?
It all starts with Putting some creative ads in the paper.
You Could do a lease option to releave you from making the monthly payments. (get a sizeable payment for option consideration and full asking price when or if they exercise their right, if not lease option it again and pocket some more option money)
wholesale sale it and take a smaller cut. Or rent it out for investment property.
You probly want to sell it for a sizeable profit, I would put an ad in the paper that say something like " I have houses in foreclosure, Investors Wanted!" and build a buyers list and send out fact sheets. Your phone will ring off the hook!!!
Hopefully this helped??
Good Luck Investing
What I’ve been reading and hearing all over the country is people advertise the house at a really low value to attract all the buyers and investors. The investors bid it up to what they are willing to pay the 65%-75% range but inevitable the traditional homebuyer will outbid the investor. The only bad thing is you will have to wait on their mortgage company. I’ve been hearing people are paying fmv for fixer uppers at auctions.
There is an interesting book out called how to sell you home/house in 5 days. It intrigued me because I fancy myself more of a tax sale auction investor but the methodology he advocates in his book is the opposite of what is taught by tax sale gurus LOL! People have to make sure they make the distingushment between the tax lien/deed auction and the private auctions.