Last month it took me 48 hours to sell a house from the day I got it until the day I signed a contract to sell it. It was another 7 days before I closed and got $10,000 in my hand… plus $450 a month cash flow
The house was a total mess. The carpet even had dog poop on it, there was junk all over the place.
Last week, my kids closed on a wholesale deal and got just shy of $6000. It took 7 days from the day the buyer signed the contract until the day they closed.
This week, I got 50 phone calls from potential buyers for a property I foreclosed on February 1st but did not start marketing until February 5th because the weather was bad…I currently have a bidding war going on about who will pay the most money. I will close on Thursday, February 17th with the highest bidder.
This house is a total mess. The guy I foreclosed on stole the HVAC system, water heater, carpet and dishwasher. Some broken windows. The walls are funky colors and there is junk all over the place… including dirty dishes in the sink and stuff all over the kitchen countertops. The garage is full of junk too but I could not see it all because I didn’t bother to get the utilities turned on.
So…. how did I get these houses sold so fast?
I offered seller financing!
When you sell “as is” ( I mean don’t do anything) the buyer is more likely to perceive that they are getting a heck of a deal if you price it right. Depending on the repairs needed, your sales price should be 20-30% below market value.
The financing is what attracts the buyers and seals the deal FAST!
So… moral of the story. You will sell houses much faster if you STOP doing rehabs and start selling AS IS with seller financing. You’ll get a nice down payment and monthly payments too. So it’s like the house that keeps on paying. If the buyers stops paying you just sell it again and get another down payment.
Even if the financing is for one year only, it will give the buyer a chance to fix up the place and get it refinanced so you can get cashed out later. But you need to be prepared to hold the financing forever because it is harder for people to get a new loan. That’s why offering seller financing is so popular now!!
You can sell a lot of houses very quickly if you don’t do any repairs and offer seller financing.
I’ll have more details about how to find the deals and the buyers in the forum at www.CashFlowDepot.com
Try selling “as is” with seller financing… you’ll be amazed at how fast you can sell houses.
To Your Extreme Success,
Jackie Lange
P.S. Did you know you can sell houses you don’t even own? It’s true. If you have an OPTION you can make a lot of money without owning the house, without cash, without financing. Learn more about Options at WWW.CASHFLOWDEPOT.COM
