Too Many Deals. What to do?

Question

I'm a buy and hold guy in SF, buying in NC. Lately I've been running across some really good cash flowing deals on the MLS that I'm not in a position to purchase. I don't want to just watch them go by after spending the time to find/analyze them though.

If I had some private lenders lined up, I could just buy them, but I'm not in that position yet either. Would it be difficult to wholesale from distance? Is there another angle I could take?

I also thought of partnering with my agent. He could forgo his fee to get it a little cheaper, in exchange for splitting the wholesale commission with me 50/50. I'd find the deal and the buyer and he could do the boots on the ground work and signing. Does that sound legitimate?

What would you do?

Gabe C. · Answer

@Van Flowers I've had good luck on the MLS so far. If a property cash flows $500 a month, I don't care much about realtor fees. I'm just curious what to do with deals that I can't act on personally.

I will investigate FSBOs though. Thanks for the reply!

Van Flowers · Answer

I personally don't look for properties on the MLS because it usually involves a realtor looking for a commission and money needed up front for the property. If you have a investor friendly realtor who would work with you on some wholesale deals until you build up the cash flow you need to buy and hold yourself then that won't cost you much money at all. You could also find for sale by owners properties through List Source, Craigslist or Zillow which only requires you to get a property under contract and then market it to private lenders for a fee with little or none of your money down.