I go meet with a seller today

[Johnny Brown]

So I meet with a seller today after talking on the phone for about 2 days.

His asking price was $73,200

The comps in the area are between $120,000-$125,000 ARV

After talking on the phone I got him down to 56k 

Today we put the house under contract

Now I told him I was buying cash 

The thing is I have not talked to a hml yet 

Should I have done this before making that kind of offer. 

This is my first true deal. I took some time off to learn. This lead came from tons of signs I put up in my local area. 

Can someone please give some input. 

When should I seek hml or pl? Before or after searching for deals? 

[Russell Ponce]

@Johnny Brown Good work, get property under contract and sell (assign) the contract. Any contract is assignable unless it specifically states otherwise, although its good to mention something about it in the agreement.

Once agreement is signed go find a buyer to fund the transaction and give you an assignment fee. Ask an HML if they know anyone who might be interested, put signs out, something like: Fixer upper MUST SELL $170k Cash buyers only! 555-1234

Also, go to listsource.com and buy a list of all the absentee owners in the area in the last 6 months. Write to these folks something like: I have a property in Rio Linda under contract and im looking to assign it by Aug 4th. The property is at 123 Main St and the price is $170k + closing costs for both sides (if that applies). PLEASE DO NOT DISTURB OCCUPANTS. Cash offers only,

Thank you,

Johnny Brown

555-1234

[email protected]

You can also google "We buy houses" and submit the property to local investors. Some people like craigslist but I only like it as last resort.

Good luck!