Wanting to pursue REO flips!! I read the entire forum!! Still need insight...

[David Sirmons]

I've read and re-read this entire REO forum, and the entire wholesale forum. I've picked up some amazing information, some cool approaches and techniques of the trade. I understand the general approach of REO wholesales, and closing methods. However, I feel that I may not have enough contacts of both potential buyers and REO agents themselves. I guess the true hardest part is finding a good deal that will 'sell itself' to an end buyer. Some buyers only consider deals that are so low in cost, they leave precious little room for myself as the wholesaler, if any.

Maybe this question has an obvious answer, but how does one find a truly good deal to contract on? I know condition, current estimated value, ARV, price per foot, costs of repairs will all contribute to the top price I can bid. Is there some other thing I should add in to this overall method?

I can't shake the feeling that there's something else I could do to maximize my deals, and I don't want to alienate any reliable suppliers or buyers by not being able to either acquire or close, for certain! Any guidance would be amazingly appreciated!! I know Steph and Everlasting are both phenoms with this branch of RE, and I'd love to learn from either one of you if at all possible!

Barring that, should I simply contact my 'potential buyers' and tell them I'm going to be supplied with low cost homes, then get in bids on some REO's and hope they are there to close? Or should I get contracts first and then look for buyers? I'd prefer to maximize a buyer list first, but that all begins with relationships and trust, both of which are hard to establish at first. All insights welcome!!