Has anyone wholesaled FSBO homes?

Question

Curious to know what strategy you might have used to flip FSBO homes you might have come across either directly or via the FSBO site?

Bill Gulley · Answer

Yes, I've done FSBOs, retailed them, threw them to investors, etc. but;

Problems with FSBOs;

Why are they FSBOs? They lack equity and can't pay RE commissions, or, they have equity and actually have RE knowledge, or, they may have some equity based on unrealistic pricing, or, it could be they are not motivated to sell, but at thier price, it's for sale.

All of those issues, any one of them, can make doing a wholesale deals pretty tuff.

Can you do one, sure you can, you can find that one seller who has equity, is motivated to sell, perhaps couldn't sell due to repairs needed and no money to do them, can't accurately value thier property and not having a great deal of RE knowledge. You need some or all of these aspects to be able to buy at a price that allows you to sell to another investor who wants a good deal and make money.

Which sounds like the more likely in reality?

Arktavious Sally · Answer

Rob Pene I perfer fsbo.. As long as seller is motivated and I can put property under contract at a price, I need it at, in order to turn a profit. A deal is a deal..

David Beard · Answer

Just reinforce to the seller the reasons why they should work with you:

* You'll buy as-is, no work needed whatsoever
* Close in weeks (versus mths with financing)
* Close in cash, no buyer financing issues to kill the deal
* No commissions to some buyers agent
* No more dealing with strangers tromping through the house and criticizing stuff
* Unlike a typical buyer, won't hit you up doing repairs following the inspection

Rob Pene · Answer

David this list is perfect :)

Thanks!!!!

Rob Pene · Answer

Thanks Ty.

Thanks Bill, this gives me a good framework to start with in terms of constructing my approach when I make my calls to FSBO homes :)

Ty Burns · Answer

FSBO homes are nice because you can use your own contracts. You wholesale them just like any other property. Just work your assignment fee into the offer price.

Has anyone wholesaled FSBO homes?

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