COMPETING FOR PROPERTIES

[Deanna Skelcy]

We have been seriously looking at properties for the last 6 weeks and have offered on 7 so far. I know it is a competitive market and we are making offers at or above asking in most cases but will need to finance with a conventional mortgage which we have preapproval. There are multiple offers on these properties and in many cases, cash offers. We have some cash but have found that the properties we could pay cash for are in locations we would not really want to invest in. While we are getting to look at and make offers on some of these properties as soon as they hit the MLS I feel like we are losing out to other buyers. What are we doing wrong? How do we compete with other investers and home buyers??

[Joe Villeneuve]

Originally posted by @Deanna Skelcy:

@Joe Villeneuve. As for different strategies, do you mean working with HML or securing a partner to bring cash to the deal?

Yes and no. The idea of different strategies is to use ones that are better than the ones you are attempting to use now. HML's are most definitely NOT better, but partners can be better...depending on the deal itself.

Here are some examples:

1 - Lease Options and Sandwich LO
2 - LAnd Contracts
3 - Stand alone Options
4 - Private lending
5 - Selle Financing (this is an entire list in itself)
6 - Cash Partner exchange
7 - Use of Non-collateralized Loans (properly used, this is free money)
8 - Use of Cash Reserves (not the kind where you squirrel away part of your cash flow)
9 - Use of Escrow accounts
10 - Use of LLC's instead of buying in personal name
...that's just a short list.