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Replies (4)
- David Cooper-Las Vegas, "LasVegasRents"
- Contributions:281
All cash, "as-is" lots of serious competition, seasoned professional investors with repair crews already in place. You will be getting a smaller commisision because most of the ones that sell need major repair
David Cooper
David Cooper
- Meewan "Kay" Lee, "Realtor Kay Lee"
- Contributions:687
Wow, if he/she only knows what she is getting herself in to.
1. 95% of the sales get postponed / cancelled. A lot of them at the last minute - literally. So if you have a certain property in mind, the chances are that you will have to come back 3 - 4 times.
2. Most flippers have a team at the title company dedicated to check liens up to the last minute.
3. You don't get to see the inside of the property you are buying, so you have to guestimate the repair / remodel costs.
4. You have to deal with the legal issues of evicting the tenant / owner after you acquire the property. (Home owners often file for BK to prolong the stay - before or after the auction.)
5. You are competing with seasoned investors who purchase 10 - 30 properties a month. They are at the auction every single day, in 3 different counties in greater LA area, for example. They will be the one picking up the juicy ones.
6. You client does know that the properties are sold with full cash only, right?
1. 95% of the sales get postponed / cancelled. A lot of them at the last minute - literally. So if you have a certain property in mind, the chances are that you will have to come back 3 - 4 times.
2. Most flippers have a team at the title company dedicated to check liens up to the last minute.
3. You don't get to see the inside of the property you are buying, so you have to guestimate the repair / remodel costs.
4. You have to deal with the legal issues of evicting the tenant / owner after you acquire the property. (Home owners often file for BK to prolong the stay - before or after the auction.)
5. You are competing with seasoned investors who purchase 10 - 30 properties a month. They are at the auction every single day, in 3 different counties in greater LA area, for example. They will be the one picking up the juicy ones.
6. You client does know that the properties are sold with full cash only, right?
- Chris Creed, "Santa Monica Realtor"
- Contributions:30
Yea thanks guys. She is all cash and I have tried to tell her is a long process. But I am willing to give it a try and should be fun. Thanks for the solid advice!
- Sandra Green-Murray, "sgmmgs"
- Contributions:147
I've gdone it with a couple of clients. It is a lot of work, but you learn a lot
and it really is kind of FUN........
and it really is kind of FUN........
Trustee Sale
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- 0.0/5.0
- (no reviews)
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