Thanks for taking the time to read my post.
I am a first time real estate investor that is looking to get in the flipping game. I have been following property radar and zillow for good leads. However, I cannot find anything that is penciling out. All the good deals I am not being greedy either, I will be fine with a 20-30k profit on my first flip. I am asking for referrals of agents that specialize in finding foreclosure and short sales. I have 500k in cash to invest and its burning a hole in my pocket.
I'm a licensed Texas Realtor so I can't help you with finding property in Portland but I can however find you an agent in Portland that specializes or has lots of experience with short sales and foreclosures. Just let me know if you would like my help. Keep in mind that not all short sales and foreclosures are a good deal!
I would really appreciate it Robert.
Neil, why dont you try what i did and work with a company to do a marketing campaign for the areas you are looking to invest in. this can be a great way to get GOOD deals that your wouldnt get otherwise, down side to that is that many people are sending letters and post cards and what not, so if the area you are looking at is saturated with those already your response may not be as good. but if you pick a good area you will do great, my partner and i picked up 3 properties in 1 month.
also if you are having a hard time finding deals, you can always find the people with the deals and help them finance it, you would make money and you would get to see how the process works a bit before you have to do it yourself. private money lending can be very profitable. and there are several ways to structure the deal to make it work for you and the person your lending it to.
hope this gives you more ideas... PM if you have any questions or want to chat!
Hey @Neil Buchan . I am a realtor in the Portland area. I wouldn't say I "specialize" in foreclosures or short sales, but I have helped clients purchase a few of both. In fact, my first rental was a foreclosure purchase. Maybe we could get together for coffee and I could learn more about what your looking for.
Take care man,
500,000 in cash and no deal flow, I'd be highly considering putting together a campaign to find some off market deals. One good deal with healthy margins will make it worthwhile.
I specialize in short sales, homes in foreclosure, and other niche sales in the Los Angeles Area. I help a few investors with campaigns, closing leads, etc in the LA area and agents with short sales in many different states.
Here to help how I can.
Neil: I am using Nancy Shropshire of Mal and Seitz in Portland. Nancy focuses on west-side properties. They have other realtors that focus on east-side. They don't focus on short sales or foreclosures but focus on investor properties. I know three other realtors who specialize in investor properties, one of which will do short sales but doesn't focus on them.
In my experience its hard to find a deal that pencils with a realtor commission involved. I also find that the PDX market is very competitive, so that huge profits on a single deal are pretty hard to find. I, myself, do direct mail, Craigslist and website advertising. I find leads pretty routinely. I'd love to find a partner as I am short on cash and hard money costs too much. If interested you can get my contact information from BP.
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