All Forum Posts by: Michael J.

Quote from @Jack Sweeter:

Hey Michael thank you for the advice. If I may ask, why stick to it for only 90 days? What happens after that if you do not find a property? Should you switch up your strategy?

I'm not saying only do it for 90, be prepared to do it for a minimum of 90 days.  Most people get discouraged after a week if what they are doing doesn't provide results so they will switch to something else for a week or two and then switch to something else.  They don't give it enough time to produce results.  So if you go in with the mindset that you will try it consistently for 90 days then you are going to get some good results.

Cash for keys is definitely a good strategy when trying to get Tenants to leave.  I'd have a conversation with them first and see what their expectations are before you offer anything.   Let them do the talking and see what they say.  You might save some money this way.

Congrats!  on to the next!

You will want to check the specific laws for the state you are doing business in.  But for sure you want to make sure you are not marketing the house as for sale.  You would be marketing your contract you have with the seller as for sale.  It would be good to work on building your buyers list so you can just email them directly without having to put the contract online.

Are you looking to wholesale yourself or are you trying to buy properties? There are multiple avenues to finding off market properties. It's best to pick a strategy and stick with it for at least 90 days. You could drive for dollars, send mailers, cold call, sms blast, run ppc ads, etc. Typically if you are finding distressed properties those won't qualify for traditional financing such as FHA or VA. You may be able to get conventional financing on some of them depending on how much you put down.

What price are you marketing it for? If you truly have a deal then you shouldn't have an issue with finding buyers. Make sure you have joined all the groups on facebook for pittsburgh real estate investors and the local REIA. There should be a fair amount of buyers in those groups and if you post the deal and the numbers are good you should have them reaching out to you to buy.

Do you have a buyer lined up that will buy all 4?  It can get a little hairy if you do them all on one contract and then cant find anyone to purchase all 4.  I would do 4 separate contracts that way if you have to find 4 separate buyers you are good to go. 

Are you looking at properties that are on market?  The best deals you will find are going to be off market properties that you have identified the pain points of the seller and negotiated a way to help them out of the situation that is causing them the pain of owning that property.

I love flipping deals like this!

I live and invest in the upstate of SC.  Happy to connect and answer any questions.