Posted by Kim T on June 30, 2001 at 20:23:13:
If you have a local club - talk to some of the other members or some of the leaders of the club. You might try an ad in the paper - you should get a lot of response to an ad advertising a property for sale that low under market. For that matter, you might offer the seller an option to buy. You will pay the seller $2,000 for her the option for you to purchase the home in 30 or 60 days. If you can get her to agree to let you show the property maybe one day a week for a month you would have a chance to sell the property. Call up local investors that you know buy properties all the time (or look for those “I buy houses” ads), or put an ad in the paper to sell the property. If you find a buyer in the 30 or 60 days, you buy the property and then sell to your buyer. If it a good a deal as it sound, you might be able to sell to another investor quickly or if you want to try and sell for the big bucks advertise to sell at $60,000 or $65,000. But again I caution you to talk to the experts in your area. One way I found people who buy lot’s of homes is to call on the “I buy Houses”. Two of those I called on were major investors that purchased 3 to 4 homes a month to fix up. The wanted homes that they could make at least $20,000 on, make a few calls see what you come up with. I know one guy here in KC that has no money or credit, but he hunts down the motivated sellers, offers them a low amount to hold the property for a month, or asks them to give him a week to find financing. Then he starts calling the investors and pitching the deal. He makes $5,000 a deal. He buys & simultaneously sells to his investor, and pockets $5,000 for his trouble. It can be done.