How would I locate rehabbers? - Posted by Patrick

Posted by Sean on January 05, 2006 at 13:34:50:

You don’t operate in a slow market I bet, or you pay too much for em before you fix em.

If I know I can get 20k today, or 30k to 40k in 6-12 months, with a monthly carrying cost of 1000/month… You bet your butt, I’m gonna take my 20k and move on to the next one. I give up 4 to 14k, but am out of it immediately and on to the next 20k…

Even if I’m not busting but and only doing 1 rehab at a time and 1 per quarter… on average I’m going to vastly outproduce the guy waiting for top dollar.

Don’t get me wrong, I love top dollar, but if I have a buyer lined up before I even got started ready willing and able to pay $xxx, and I can live with $xxx - my costs… I’ll let the buy and holder keep some equity, and move on to the next one.

How would I locate rehabbers? - Posted by Patrick

Posted by Patrick on January 02, 2006 at 17:11:35:

I am looking to connect with rehabbers that would be interested in selling their properties at a discount as soon as they finish the rehab. Any suggestions?

Re: How would I locate rehabbers? - Posted by Jason

Posted by Jason on January 03, 2006 at 23:31:09:

where do you want to invest? How much discount? Let me know what characteristics in a property you most desire or vice versa?

I am currently seeking persons to notify as I rehab properties in the Rita damaged area of Southeast Texas. I want to unload the properties quickly as I do not want to hold onto any. I will sell less than market value after rehab.

Contact me if interested.

Re: How would I locate rehabbers? - Posted by Sean

Posted by Sean on January 03, 2006 at 07:51:41:

Depends on where you are, and what sort of discount you are looking for. In a slow market a guaranteed sale for X% as soon as done, might attract a few folks.

Really? At a discount? - Posted by Kay Young

Posted by Kay Young on January 02, 2006 at 23:20:36:

First off let me start by saying I have never personally met anyone who would go through the trouble and expense of doing all the rehab work just to sell at a discount. I think you are looking for a needle in a haystack - but I have seen stranger things happen.

That being said. You can try striking up a conversation with some of the employees at your local hardware stores. They tend to get to know their repeat customers (more so in smaller stores) and may be able to connect you with someone. Give them a couple of your cards and ask if they will pass on your info. Of course you should compensate them for their efforts - should you happen to get a deal out of it.

-Kay, REtips.com

Re: How would I locate rehabbers? - Posted by glenn ¶

Posted by glenn ¶ on January 02, 2006 at 20:21:26:

2 ideas:
Find and attend a local RE club
Place and ad in the paper

Re: Really? At a discount? - Posted by DSmith

Posted by DSmith on January 04, 2006 at 11:50:24:

I always offer to sell my rehabbed properties at a discount to buy and hold investors. I?d rather sell at a discount in a day than wait 3 months on a retail buyer. I can?t imagine I?m the only one.

That makes sense - Posted by Kay Young, REtips.com

Posted by Kay Young, REtips.com on January 04, 2006 at 12:10:16:

That makes perfect sense. I read so little on these boards from people wanting to “buy and hold” that it never even crossed my mind. LOL Here I was scratching my head. I just couldn’t phathom someone getting enough of a discount to make buying and selling worth while. :slight_smile:

-Kay Young, REtips.com

Re: That makes sense - Posted by ski

Posted by ski on January 04, 2006 at 19:01:37:

I do a lot of rehabbs and would not even consider discounting them. The reason for rehabbs is to get TOP dollar for your efforts. If you want to discount, don’t do the rehab, just flip.