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Updated about 9 years ago on . Most recent reply

User Stats

142
Posts
44
Votes
Jamie Wooley
  • Investor
  • Dallas, TX
44
Votes |
142
Posts

Random...Either a great idea or a BUST! What do you think?

Jamie Wooley
  • Investor
  • Dallas, TX
Posted

First off, I am sure I am not the first to think about this and it may be being done everyday.  

I have thought about this many times and would like you to chime in on whether you feel it would work or be a complete waste of time.

Expired Listings: I have access to these as an agent.

My thought was to knock on these property owners doors or send them a letter with the following....I will purchase their property Cash and pay to fix it up to get the highest market value. Then once the property was rehabbed and sold compensate them in some way. I don't know if a JV 50-50 split would work well or if their is a better option as in a percentage of the sales price.

All comments would be helpful, thanks!

  • Jamie Wooley
  • Most Popular Reply

    User Stats

    404
    Posts
    315
    Votes
    Mark Holencik
    • Investor
    • Coplay, PA
    315
    Votes |
    404
    Posts
    Mark Holencik
    • Investor
    • Coplay, PA
    Replied
    Originally posted by @Jamie Wooley:

    First off, I am sure I am not the first to think about this and it may be being done everyday.  

    I have thought about this many times and would like you to chime in on whether you feel it would work or be a complete waste of time.

    Expired Listings: I have access to these as an agent.

    My thought was to knock on these property owners doors or send them a letter with the following....I will purchase their property Cash and pay to fix it up to get the highest market value. Then once the property was rehabbed and sold compensate them in some way. I don't know if a JV 50-50 split would work well or if their is a better option as in a percentage of the sales price.

    All comments would be helpful, thanks!

     Why would you give them any part of the profit? You are buying the house and fixing it. What are they doing to earn part of the profit?

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