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Updated over 17 years ago on . Most recent reply
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Buying deep discounted then reselling below FMV
I have learned more in depth in regards to double closing and the benefit of it. So I realized the possibility of double closing from a motivated seller to an 'Average Joe' consumer. I am going to do bandit marketing and get some possible deals come my way. I am going to focus on properties that are in need of rehab and wholesale it to an investor, but I would like to be prepared for any deals that might come to the table.
My questions are directed towards this scenario:
Motivated seller comes and wants to sell house at 70% FMV. House is good condition. No repairs need to be made.
1.) No repairs need to be made, so no need for a rehab investor to intervene and bring the property to livable conditions. If I choose to do a simultaneous close with the end buyer being an 'Average Joe' consumer, what are some unforeseen challenges that need to be taken into consideration?
-My first concern is possible traffic of 'Average Joe' consumer traffic through a house that might possibly be non-vacant and disturb the owner.
-Second concern is how to efficiently market the property without a realtor in an effort to emit fee? Smart decision?
2.) Is it better to sell to an investor?