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Updated over 5 years ago on . Most recent reply
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Off market investor looking into financing options for buyers
Hey everyone. I'm off market real estate investor, i buy homes for cheap, do some minor repairs and re sell them to contractors and other investors for a profit. Up to this point, I have been selling my investment properties for cash, these are under $50,000 homes and have been lucky enough to find buyers, sometimes quickly, others not so much. I am picking up pace and would like to offer financing for my buyers, this would help me sell the homes quicker as well as broaden my list of potential buyers. Since I am not a realtor, where do I begin? I have been in contact with a local mortgage lender that is eager to work with me, my worry at this point is that most of the leads that I send his way are going to end up being wasted/switched onto other homes, since I only have a couple of houses for sale and dozens of people looking to finance. Am I wrong to assume these leads are worth money? what is the industry etiquette? can a mortgage lender "steal" leads? is it a smart move to connect the lender with all of my potential buyers at once or should I send him more if others fail to qualify? As you can probably tell I am pretty green with this aspect of the industry, any help or advice would be appreciated.