I have several friends who are agents who let me use their usernames and passwords.

Steph

Are you a licensed real estate broker or agent, because how is it that you have access to the MLS?

Thanks,
Alan

You know, you can always run the numbers by your buyers while you are negotiating with the bank. I do it all the time. If you don’t feel comfortable giving them the exact address, you can just give the street and block and a description of the property and it’s condition. That way you know where you stand before you actually commit to the deal with the bank.

Thanks again for all your help.

Unless I am not understanding you correctly, I don’t think you are using the same approach as I do when making offers. My strategy is to find the active investor/buyers in the area, and then find out what they are willing to pay for properties in that particular neighborhood. Then I go to the MLS and make my offer low enough to give them the numbers they are looking for, and also leave room for my profit. I don’t use percentages of list price, or base my numbers off of list price in any way.

I’ll give you an example…..

I just found a buyer who is willing to pay no more than 30k for duplexes in good condition in a specific neighborhood. So, if I found a duplex listed in that neighborhood in good condition, and I wanted to make 5k on the deal, I would offer no more than 24k on the property (I factored 1k in for closing fees).

Make sense?

I’ve gotten a different realtor since my last question. He is willing to work with me on making offers and he’s is an investor so he is fine with my business partner and I flipping the reo’s. My only semi issue is that my offers may get accepted and he feels that’s a bad thing! He thinks our offers should be lower. Our formula we use to make offers comes from your blog. We look at what investors are paying for in the areas we are making offers on and we look at the listing price. In the nice areas all the properties were listed at 50-65% off and we offered for 10-20k less than the listing price, but our realtor says that’s not low enough. What’s your take on my “dilemma”?

Yeah- that’s pretty much how it works. There are a few wholesalers that I have been doing deals with over the last few years, and quite often we will partner up and sell deals for each other.

There are different ways to structure it, but usually I will put the property under contract (or option) with the wholesaler, and then assign it to my end buyer for a fee.

Make sense?