Rehabbers Vs. Fix & Flippers

In my last blog post titled: What is the difference....

I discussed with you the difference between a Rehabber and a Fix & Flipper. Despite your belief of the difference or if there is one, I'm going to plead my case on why you should keep these two separate on your buyers list and I welcome you to comment below. 

In keeping with my belief between the two I'm going to keept them separate for one main reason. What attracts them to a property. 

As mentioned before each is attracted to the level of work vs. profit scenario. One likes more work and a larger profit potential and the other likes a quick fix for a quick buck. 

As I acquire these properties and determine they are not going to be held by mysef because I'm far from a handyman of any kind. I determine the amount of work that it's going to take to either bring it to retail resale value or possibly just a rental standard. 

The reason in determining this is because as I create the marketing for this, I approach it a certain way. I typically create a postlets page. It's free and it looks great if  you approach it right. 

Normally when you create one of these postlets, you highlight all the great stuff about the property. When I do it, I only highlight some of the work that needs to be done but I also include the numbers that matter to who I'm sending it to. The Rehabber or Fix & Flipper don't care that is has a great view or some other cheesy feature as much as they care about the numbers.

What does it need, how much do you estimate(they usually know this better than you any day of the week though) how much are properties selling for(keep this legitimate!) you want to show them the 3 doors down just sold for X amount in only X many of days. That is what really gets their excitement. You're not trying to sell them something they don't need so don't approach it that way with un-needed info, just give them the meat and potatoes. 

Include the lender information, amount in default(if in default), montly payment, interest rate, balloon date. Anything that will be deemed important information. Of course don't forget to include your assignment fee. 

I send these separately because if I have a property that only needs a few things that will only attract the Fix & Flippers, I'm not going to waste the Rehabbers time and vice versa. 

I hope you got a little ah ha! moment from this. I do this same technique for other buyers on my list as well. It all depends on who I'm sending it too as to what the postlets will include. Get familiar with Postlets and its features. Its free and very useful.

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