All Forum Posts by: Paul Haughton

@Todd S., congrats! Great work. How actively involved were you during the process? Did you do any of the work yourself? How frequently did you go out to the property supervise / check- in on things?

@Account Closed, nicely done. 

@Jovi Brown, you seem to be on the right track. It seems like your area is not as sought after as the others. That said, it is almost always the case that you will find a cash buyer for any property at the right price. It may just take longer to find those buyers. I have used handwritten bandit signs to market properties and attract cash buyers, with good results...especially when in areas where I didn't have an active buyers list. But the low price was the main draw.

I would suggest giving your strategy a little more time to work and see if you can negotiate lower prices. If results don't improve, you may want to consider redirecting your marketing to the more desirable towns (if it is logistically possible), or perhaps exploring other untapped opportunities in your area. 

Wish you success!

Paul. 

Hi @Julie Doke, I know the feeling. Have you considered mailing the contract to the seller (overnight or priority mail with delivery confirmation)? I would mail 2 copies with a return envelope. Follow-up by phone. Have them sign both copies, keep one for their records and mail you the other.

Once you receive the signed contract, your title company should be able to help you from there with the closing. 

Other things to consider:

What about your cash buyers? Do you have buyers already, or have you thought through the process of finding and qualifying them?

Are you planning to assign the contract or double close? Your title company needs to be familiar with the option you choose. 

Much else doesn't matter, though, if you don't have a signed contract. That's your priority. 😀

Hi @Jovi Brown, 

It would be helpful to know what tactics you have been using to find cash buyers. Can you share? 

Couple things to consider:

1. Depending on your location, there may be fewer cash buyers available. You may want to verify that there are cash transactions happening in your area. There are a number of great articles / posts on the site with useful tips (search: "cash buyers"). Here is a link to a blog post by @Sharon Vornholt that you might find helpful. http://www.biggerpockets.com/renewsblog/2013/11/12...

2. Cash buyers typically have specific buying criteria: they look for specific types of properties in specific locations / zip codes, within a desired price range. It is possible some  of the properties you are getting do not meet the criteria of buyers in your area. 

Best,

Paul. 

@Troy Sheets, great story. Well deserved. 

@Michael Noto, nice work. Well done. 

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Currently reading:

The Book on Flipping Houses

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Modern Real Estate Practice & CT Real Estate Practice and Law