For more details, fill out the Non Circumvent Agreement at http://www.honestdeals4u.com/non-circumvent-agreemen/. You will get an email with the complete details on the house.
Investors look for a good cheap deal when they buy a house to flip. With tight inventory, fixer upper deals have loads of multiple offers within a few days of being on the MLS. Many first time home buyers also are buying fixer upper properties and putting in their own “sweat equity.” First time home buyers can “afford” to pay more for the fixer upper house since they will be living in it and paying the mortgage. Investors need a large spread between the buy price and the sell price to make money on the deal. With tight inventory and competition from first time home buyers, investors who flip find it hard to land a deal.
If you find a realtor who knows rehab, they can find you a property if you put in your offer right away. You and your realtor need to know the comps in the neighborhood to make an offer at a price that will make you money. Gerry Klassen searches for distressed properties and fixer uppers in San Diego every day so you, the investor, can focus on getting the deal and doing the remodel. Watch the video and give him a call.
Many things can be hidden from view when you buy a fixer upper. Fixing these items may cost more than you bargained for. Your best strategy to buy a fixer upper home is to consult with experienced investors and rehabbers. If you buy a fixer upper from an experienced wholesaler, often you can find out what needs to be fixed before you buy. At HonestDeals4u.com we find the best fixer upper properties so you can make money. At WiseWealthUniversity we have detailed investor education, training and coaching to make your next fixer upper investment profitable. Email our office for info on our investor training or go to our wholesale site to buy a fixer from us. HonestDeals4u.com
I have funded my deals with every method known to man: conventional loans, seller financing, 1031 exchanges, credit card checks, refinance one to buy another, partners, wholesaling, hard money, private money. Each has its place in certain situations. The one that will skyrocket your success as a real estate investor is Private Lending. The reason for this is simple. Private Lending is FAST, EASY and can be used in any situation and any property. AND it is unlimited. Let me take that back. Your sources and amounts of private money are limited ONLY by your efforts. Why you may ask is private lending even MORE IMPORTANT NOW than when I started full time as an investor?
If you have not been under a rock for the last 4 years you know….
The Lending World Has Changed
Not only are the banks requiring 20-25% down, good credit scores and full documents, you are limited on the number of mortgages you can hold. And the government is trying to regulate areas that were once the domains of real estate investors, like seller financing. As if seller financing was the cause of the current financial crisis and not Option ARM, No income, No doc loans.
Private lending seems unusual to new real estate investors, but other small business owners use private lending to raise capital to start or expand their business. You can too. You see, individuals who know and trust you will take a chance on your business when a bank will not. So start ups will use private lending to start up a business and not go through the requirements and restrictions of the bank. Your private lenders are even better protected since their investment is secured by a property and not just the hard work of the standard business owner.
How can you get started finding private lenders for your deals?
I offer a Free ebook called Finding Private Lenders which explains how to develop your contacts and talk with private lenders.
At the end of the ebook, I provide a spreadsheet using a typical single family residence purchase so you can explain private lending to your potential lenders.
Click this link to get my e-book and I will email it to you.
In my training courses and coaching, I teach you how to overcome your fears when talking with your private lenders and how to take care of them so they keep coming back. And I provide a letter for you to send to the seller with the bank statements of your private lenders when you make purchase offers.
Saturday October 1, 2011 1-3 PM
What you will learn:
How to choose the right house.
ANALYZING the deal.
How much rehab to do – estimating your repairs.
Proposed budget for the rehab.
How to change layout and flow.
Exit Strategy? Comps for the Property.
Managing your contractors and costs.
Receive a Copy of the New Floor Plan.
Janice Bell (Energywise Properties, Inc.) and her partners share their broad experience with numerous rehabs in a variety of markets, so you can profit today. Their hands on “lab” approach builds confidence and propels you into your next profitable deal.
To sign up for the FREE Scope of Work CLASS click here.
And we will send the details including address and directions.
Join us on our Wise Wealth University Facebook Page for pictures of students at the last class
Attendees of our classes and tours have said:
Deb S: “Very informative and everyone was engaged. We were really surprised with the
amount of information.”
Denise V: “So much practical info! You are extremely knowledgeable!”
Steve S: “I‘ve never been to any training quite like it.”
Here is a picture of the kitchen in our rehab house in Poway. We sold this in late July. Put money into the kitchen and bath. Women make the tipping point decision and this is where they see value.