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Hi! So I’m LOVING the information on the site, so much to take in and start applying! What drew me to the site originally were all the creative solutions as i’m looking for ways to solve more homeowner problems. I’ve been wholesaling for a little over the past year here in Miami and I’d like to hear what others might do when the lead doesn’t fit the “wholesale” box?
Example: The homeowner owes $190k and for it to be a wholesale I’d have to be in the $160’s. It’s currently rented month to month and the homeowner is motivated. What are my options here other than just listing the house?
Example: The homeowner has a property free and clear here in Miami but lives in New Jersey. He’s motivated and enjoys the monthly cash flow but is a tired landlord. He’s tired of trying to manage the house from Jersey. Lease for tenant is expiring in a month What can I do here?
I’m still trying to really wrap my head around Options, Master Leasing, and Seller Financing. It feels like the first time I heard about wholesaling, lack of confidence and a lot of question marks lol. I got over that hump so I know I can conquer these more creative solutions just hoping for a little guidance!
Thank you!
HI William
Welcome to the CashFlowDepot family. I’m so glad you are enjoying the training!
While wholesaling is a great way to get started, it is important to learn other techniques and strategies so you can solve more home owner problems
A wholesale strategy is not a good fit for about 90% of real estate transactions.
When the numbers don’t work for wholesaling, then you need to know about Options, Highest Bidder Sales, Master Leasing, and Seller Financing. Luckily, we have training for all this, and much more, at CashFlowDepot.com
Just like wholesaling, if you structure an Option, Highest Bidder Sale, etc correctly, you can reduce the risks.
When you get a particular seller situation that you’re not sure how to handle, get on the Community Forum to ask for help! We’ll be right here for you.
The homeowner owes $190k and for it to be a wholesale I’d have to be in the $160’s. It’s currently rented month to month and the homeowner is motivated. What are my options here other than just listing the house?
not enough information
what’s it worth?
when is the lease up?
what is it rented for?
what are the mortgage payments? is that fixed interest rate? does it include Interest and taxes
What is the condition of the propertyNeed a lot more info to make an intelligent evaluation for this one and the other one.
Welcome William
There are a lot of different ways you can make money on house you cant Flip. 1) Highest bidder. You can have a highest bidder sale for the most down on an owner finance or lease option. 2) Owner Finance. You could owner finance the deal from the seller and then rent or wrap it. 3) Lease option. You can set the home owner up with a lease option buyer. If there is not enough room to stay in the deal. And a lot more. but we need more information to give you solid advice.It is great that you are starting to expand your horizons.
Remember each method of buying and selling is a new tool in your tool belt. The more tools the more work you can do.
TK
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