Suggestions On Finding The Deals.

[giffman]

Originally Posted by HOME$$$RIPOFF

do you present yourself to them as a flipper? do you offer cutbacks? profit sharing? I have been working for several realtors and none of them are willing to throw a deal my way. I even offered a bonus to a guy and he refused it saying its not necessary. what do I do? can you be more specific? thanks.

My realtor knows exactly what I do. I'm not sure why you would offer a realtor a bonus. The commision off the sale should be enough incentive; especially in this soft market. I have a list of criteria that I ask him to keep his eyes open for. Some of them are: corporate owned (forclosures), pre-forclosures, estate sales, fixer uppers, as is sales, homes with unfinished space, homes on large lots that can be subdivided (my last deal netted a home and two building lots). My realtor can usually produce a pile of listings that meet these criteria. From there I whittle the choices down based on the numbers from he provides (i.e. days on the market for the neighborhood, cost per square foot for the neighborhood, average house size for the neighborhood, target asking price in upgraded condition). It also helps to have a handle on the cost of needed repairs. This comes with experience. You can also have a reputable GC give you a ballpark estimate to do the work. Whatever the number is, you can do the work yourself for about half or less. The most important thing is that you have to act quick. Deals are always out there but they don't stay on the market long.