Finally contracted

6 Replies

I Finally got my first property under contract. I have been feeling good about it all day. I took the contract to the title company and now I am waiting on a end buyer and the lien search.  Its a 3/1.5 in a community right by the high school where rent is going for $900 monthly easily. It doesn't need much work. The seller even through in the stainless steel appliances! I am so stoked. Any advice on getting a end buyer.  Of course I am limited on cash so I posted it on craigslist already.

@Everett Marshall

You should have a number of buyers lined up before you even buy. Start building your buyer list by building relationships at local REI groups, MeetUp's, etc. If you're NOT networking like a madman, you'll be very sorry very soon.

my local rei meetings are held in Jackson at 12pm, and I live about 2 hours from there. Plus its held on a Thursday. I haven't quit my job yet so I cant make it to them. However I have put ghost homes on craigslist to get a hit. Any other avenues you got I will be more than happy to explore.

Congrats Everett!! I'd be stoked to bro. I can't wait to close on my first contract. Hopefully soon. But it sounds like you already have an exit strategy by renting it out if you're unable to sell it, so that's good start. Just keep posting adds and networking on BP and you should be fine.

@Everett Marshall

Looks like you need to start your own evening MeetUp group for your area. I doubt you're the only one who is wanting to invest in that area and you would quickly become the go-to guy since you're hosting a monthly MeetUp.  What say you Everett?

You can also use a money partner on deals.  Sure, you don't get to keep all the profit but you also don't have to worry about finding money. If they deals you get stand on their own merit, the money will find you.

CONGRATS!  Have you looked up your local Section 8 listings for current rental owners' contact info?  Might be a buyer or two listed there, free info just trying to help.  

thanks.  That is good info.  Hey @Guy Gimenez that's a great idea.  How would I go about doing that? 

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