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Updated about 14 years ago on . Most recent reply

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Sharad M.
  • Carlsbad, CA
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How are you buying your properties?

Sharad M.
  • Carlsbad, CA
Posted

For all the rehabbers:

1) Where are you buying your rehab properties from? MLS, Wholesalers, etc.?
2) If you buy from multiple sources, can you please list those sources and what percentage you buy from each?
3) For those buying from MLS, how many offers you usually make before one is accepted?
4) Follow up to # 3 above, do you usually go look at each property you make an offer on or make multiple low ball offers with some contingency?

Thank you in advance for all the responses.

Most Popular Reply

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J Scott
  • Investor
  • Sarasota, FL
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J Scott
  • Investor
  • Sarasota, FL
ModeratorReplied

95%+ off the MLS...all REOs...

I was averaging an accepted offer for every 3-4 offers I was making (back when I was more picky), but these days it's probably an accepted offer on every 6-8 properties.

We generally call the listing agent prior to putting in our offer, and since we have good relationships with many of them, they'll often give us the information we need to know if we should bother putting in an offer or not (for example, how many other offers are there, are they owner occupants and how close to full price).

So, this probably helps our numbers somewhat, since we don't put in offers if we already know we likely won't get the property...

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