What areas is she looking? This is a big indicator as there are a few areas where 350k MFH don’t have much traffic, it’s just not the hot & booming areas. She can pick a MFH that cash flows well in an area that doesn’t have the most to offer or she can wait for the one day that cash investors don’t have their eyes glued on the hot miami markets (good luck).
Is she using a big bank or direct lender? I personally don’t work with buyers using a bank if they are trying to capture a great deal in a hot market. They’ll be on the market forever because no seller or realtor will want to work with a bank’s meticulous underwriting when there are other competitive buyers with less stringent lenders.
Next i have to ask what her inspection period looks like? If it is 10 days or more, you are placing your self in the same space as a retail buyer. Investors want to sell to serious investors. I can get an inspector on the property within 48hrs. More than often my inspection periods are between 5-7 days if we are looking to seriously compete with cash offers.
What is her deposit looking like? If it is anything less than 5% again, you are placing yourself in the same realm of seriousness as a retail buyer.
I prefer my buyers to leave money in escrow prior to even finding the property that way I can draft a contract that comes with a deposit already. Would you prefer a buyer who will wait 3 days to put a deposit or one who already has their eggs in place?
The minute the property pops on the market I am scheduling a showing and drafting a contract so that seller sees my buyer has been waiting for a deal and is desperate to close with escrow and contract within first few days property is on the market. That’s a buyer that knows what they want and is serious.
Hope this provides some insight! There are other strategies and techniques I use but many are not available to unlicensed personnel so the above are the best strategies for her to utilize.
Happy investing!
