We had a home that we were going to rehab. We decided that the location/profit was a little thin. I'm kind of a stubborn 65% - Repairs kind of guy.
We decided we might as well try to wholesale it and just rehab it if we couldn't move it.
I like to post rather vague Craigs List ads. Something like "Tremendous investment opportunity" The zip code, asking price, and pictures. We had a guy get in touch with us asking if he could run it by a few of his buyers. He sent us an option to purchase with a contingency that if we sold the property on our own the agreement was void.
Basically a "let me see if I can sell it first". Well I think we'll use this guy again.
We had the property under contract for under 3 hours. My business partner met him and two of his buyers at the home. One of them agreed to purchase it for our asking price (plus this guys 2k bird dog fee).
I can't complain about 10k in 3 hours.
Dont jump the gun just yet. If its not closed then no one has made any money yet.
Craigslist buyers are usually the most sketchy. Keep us posted if it closes and if so congrats!!
You're absolutely right. Obviously its not over till closing. However I know that a lot of guys are hesitant to "co wholesale" or work with bird dogs. All I can say is if this guy's buyer actually closes I will use him again.
Boom! Funds deposited. Deal # (I've lost count) completed.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!