I sent 200 letters to owners in one part of a town that I think is on the up. Did two successful flips there recently. I got 20 calls back. I was surprised. All of these sellers want to sell and we had good conversations but only a couple have flip opportunities...just not enough meat on the bones. But all the others I think I could get a good 10%-20% below market value. They don't want to deal with cleaning, prepping or dealing with agents. They also like having time and security of knowing they have a buyer. Feel like I should take advantage of these direct connections and owners who want to sell to me in some way. Buy and hold? Taxes are very very high so cash flow not the best. I can't finance all of these solo. Thoughts on finding an investor or two to pick up ten properties or so in the next year?
I would take them all under option. I would flip a few out to other investors. Then you can choose which ones to keep as buy and holds and which ones to rehab and flip. My goal in this situation would be control rather than ownership. It would be ashame to waste any of these leads. With limited capital and time, I feel that taking them all under option would be my best chance of cashing in on them all.
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