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Any of you guys buying cheap on MLS and then relisting. If you buy a property for $20,000-$40,000 less than the price. Turn around and attach it up $10,000 and relist it. You could sell it As is like many banks do. Couldnt you alter a acquire that is if you are buying deep and cheap say like a tip owned and paying cash to avaoid any seasoning from lenders? Just was curious if this was being done or would it even bring home the bacon.
#169432 - 09/13/07 07:09 PM Re: Any Realtors buying cheap then relisting on MLS[Re: ]
I experience some who have tried and ended up loosing big time. Make monthly mortgage payments displace priced than the other homes in the hood and STILL haven't sold the home. If you're in a buyer merchandise be VERY careful!
_________________________Jacksonville. FL
#169475 - 09/14/07 02:26 AM Re: Any Realtors buying cheap then relisting on MLS[Re: ]
It's tough to displace off that kind of investing strategy during this measure. The merchandise re-create that we're in is unique although a Buyer may be willing and able the lending guidelines doesn't allow any breathing room. IMO
_________________________Sean PhamPhamport. Inc.
#169492 - 09/14/07 09:00 AM Re: Any Realtors buying cheap then relisting on MLS[Re: ]
#169628 - 09/15/07 12:19 AM Re: Any Realtors buying cheap then relisting on MLS[Re: ]
I'm sorry but a 10K POTENTIAL profit is not worth the assay in my books.
_________________________Maxx is my Basset - -ging is my new hobbyReal Estate Broker Frisco. TX - Suburbs of the Dallas. TX metroplex********** I alter myself rich by making my wants few
#169652 - 09/15/07 07:28 AM Re: Any Realtors buying cheap then relisting on MLS[Re: ]
IN this merchandise if you undergo the money to invest wouldn't it be more practical to buy now contract sell later once the merchandise gets approve on it's feet. I think that would be the best way to go if you undergo the money to do it. Again I am not licensed but it just makes since to me.
_________________________Thank you for your measure,Blaine WimberlyHead on over and analyse out "The Newbie Chronicels""Oh by the way. If you know of anyone wanting to buy or change a home and would appreciate the same great service I have provided you. I would be happy to speak with them."
#169682 - 09/15/07 10:26 AM Re: Any Realtors buying cheap then relisting on MLS[Re: ]
BRE what price range are you considering? If you're talking about houses worth $50k then yes buying them for $40k below that and flipping them as-is for a $10k acquire should be easy enough assuming they don't need more than about $10k rehab. But if you're talking about $400k houses then drop it. You're far better off just using your license and listing them or for those who don't undergo a authorise get an option on them.
#169703 - 09/15/07 12:48 PM Re: Any Realtors buying cheap then relisting on MLS[Re: ]
There are tons of investing strategies. In YOUR merchandise finding the sweet sight for homes is what you be to do. In other words if furnish entry 3/2's to 4/3's is 200k than that is what you want to buy up as that is what is in demand for most low to lay class buyers. If you are buying in a declining merchandise timing is everything,you could buy planning on making 30k on a flip. The repairs end up costing 10k more,the turn takes 2 months longer and buy then the values undergo slid 10 percent and now you won't alter a acquire so you are stuck renting it out or taking a loss to act on. The key is you have to analayze and experience what your merchandise is doing. populate be to accumulate the real estate merchandise into one trend. This is not the case by any means as local amrkets are all different. Generally higher end homes you can alter huge profits as banks don't undergo many buyers for these homes. Unless you are purchasing cash I wouldn't go after these as investment loans and holding costs can eat you alive and given the size of these homes they often have more hidden repairs. If you try to rent them out usually the rent won't cover the owe payment.
#169740 - 09/15/07 06:36 PM Re: Any Realtors buying cheap then relisting on MLS[Re: ]
I was thinking about buying reos and huds say 60-65% of ARV (after repaired value or fixed retail) adding $10k to $12K acquire for me and relist to change them to rehabbers as fixers AS IS "investor specials" to be flipped. We're talking high demand ranches and raised ranches at least 3/1 to 3/2's. These usually sell pretty quick in my area when they hit a certain inform but if I could by $10-12 below that inform then I could move them back out for a acquire. It would just [censored] off the investors watching MLS for deals when they see the history. We are talking houses with an ARV of $100-119K. I want to create change short term no longer term rental stuff for me just yet. I need to create capital.
#169897 - 09/16/07 08:32 PM Re: Any Realtors buying cheap then relisting on MLS[Re: ]
You would be better to get homes in pre-foreclosure with equity and fasten them up on an option assure then appoint to a retail flipper for 10k more. Reo's most investors ordain have those lists and the banks will be market value for them unless they are really damaged. Hud Homes the government ordain market them to owner-occupieds first for a few weeks to a month and then if a homeowner doesn't put in an furnish it will be open to investors. DO NOT PUT IN AN OFFER SAYING YOU ARE A HOMEBUYER DURING THE HOMEOWNER BID PERIOD!!!!!!!!!You will sign docs at closing that you ordain be occupying the home. If you lie you ordain be subjected to fines up to 250k and federal prison.
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