THE EASIEST AND FASTEST WAY TO FLIP A PROPERTY…
The Key is to…tie up and control the contract!
If you are just starting on real estate investment or a seasoned investor the fastest way to make money and move a property is WHOLESALING. This will allow you to continue getting fast cash income to get other properties with a bigger payout for you. As you know, buy now or go through this site and read the different articles you’ll find out that the secret is in the numbers.
As a wholesaler, your job is the most valuable for any investor. You are the master of a deal evaluation and the savvy investor that makes sure the rehabber or flipper whether flip it or lease it has meat on the bone.
If you, like seasoned professional investors-wholesalers do your due diligence, you’ll evaluate a deal with a property acquisition evaluation software. Using the right tools allow you to know the inside-out of a deal and make sure you do not over pay for the property creating and offer to a rehabber/flipper hard to resist.
When you work the numbers right, you’ll be able to negotiate your deal with solid facts, demonstrating the seller you cannot pay more than your MAO. Unless, you evaluate your deal right, you will not create a hard to resist offer to your investor.
When you properly evaluate the deal and provide your investors a report they can take to their banker or private money source, you’ll lower your days on the market for you will be cashing out of properties faster. You want to make sure your investors come back for more–because they know you do their leg work for them.
You want the investor to spend the least of time verifying and evaluating your data. When you market your property make sure you provide–
The 7 Must of How to Present a Real Deal…
- Have fresh like comps on the deal, preferable, within 3 months and within 1/4 of a mile for subdivision and radius
- Make sure your flyer includes important information about the deal such as:
- Acquisition cost (depending on the type of acquisition structure)
- Holding cost expenses
- Rehab expenses
- Exit expenses
- Net Return on Investment (ROI)
- Rental Analysis
- Acquisition Analysis with pictures
- Real Estate Risk/Return Metrics, such as BER, DSR, COC,NPV, IRR, etc
- Cash Flow Analysis
Unfortunately, most wholesalers provide minimal information that goes like this:
Ask Price: $60k
Comps between $100k-$105k or they might say To Be Determined (TBD) How can you say it is a deal when you don’t even show a real conservative ARV ? (Unfortunately, comps go as far as 12 months and up to 1 mile radius but they don’t tell you the criteria used)
Do you really think this is a deal? For some or many maybe. There is not meat on this bone. You want to always put yourself on the eyes of your investors as having their best interest in mind. They are your repeat customers. You want to make sure you build trust!
For a $100k deal with $25k in repairs you should never pay more than $43,000 minus your assignment fee. These numbers are based on my buying criteria, which I do not deviate from. Some people might argue that they can pay more and that’s fine for every deal is different for every investor.
I stick to what my property acquisition evaluation software (PAES Plus © ) indicates. I already paid the price for going against fundamentals and it cost me $10,000 to learn the lesson to stick to fundamentals and my buying criteria.
Related Article :- Cash Flow Calculator, What Do You Need To Buy A House, Avoid Foreclosure Options, Cash Flow Analysis, How To Flip Houses With No Money, What Do You Need To Buy A House, Homes For Sale In, Homes Rent To Own, Real Estate Valuation Software
EVALUATE YOUR DEALS RIGHT AND MAKE A HARD TO RESIST OFFER FOR YOUR INVESTORS NOW!