All Forum Posts by: Joe Barty-King

Do not count on anyone to get the contract assigned to them until you have had multiple conversations with them and you have built rapport. Everyone is always interested until you actually have to do it, this is true with everything.

I've had multiple in-depth conversations (email and phone) with about four of them; one was a brief back and forth about the property. Was able to build great rapport with them as well... That last line you wrote is great advice to keep in mind, so thank you!

0 Votes

Quote from @Lydia R.:

Congrats on getting a property under contract! There is nothing wrong with putting a property under contract and having no buyers. Just be prepared to work your butt off to get the deal in front of as many investors as possible.

It sounds like you might have put the deal in front of some wholesalers pretending to be buyers. They are now shopping your deal and trying to find a real buyer before coming back to you and signing your assignment. Make sure you are clear about how much EMD you want. My min is 5K. This is enough to keep wholesalers from trying to get your deal tied up and daisy chained.

Put this deal everywhere. FB marketplace, join all the real estate FB groups for your area, REIA meetings, real estate meetups, talk to agents, get on Zillow and look for properties that look rehabbed/flipped and find out who sold it (the seller will be the investor you're looking for) and ask them if they want another hot deal in the same area. Do the same thing with rental properties. Get on Zillow and find for rent by owner properties and reach out about your property. Call property management companies and ask them if they have any investors that want to add to their portfolio. Call local hard money lenders. They have a database full of qualified investors that they have made loans to already. They will be able to push your deal out to their contacts and find someone who will be interested. Title companies are another great resource. investor friendly title companies work with investors daily. They can put your deal in front of clients who may be interested. If you start doing all these things Ive named and still no one is signing your assignment then its possible your deal is not a deal. Whenever I have an investor pass on one of my deals I always follow up and ask why. It could be something that I overlooked. Good luck!

Hi, thanks so much for your in-depth reply! I've been frantically trying to get this deal in front of as many potential buyers as possible, not only for higher odds of assignment, but because the deadline for the EMD is approaching which could render the contract null and void. I'd also feel bad for the seller if at the end of this long process there wasn't a deal reached.

Thank you for the other suggestions! These are fantastic methods that I never would have thought of, especially the hard money lender method. Going to try all of these.

0 Votes

Quote from @Hamp Lee III:

Welcome to BP!

Congrats on getting your first deal under contract!

Without seeing the specifics, something might be going on with the numbers of the property. Maybe the work is so extensive that it won't make them a profit? Maybe the assignment fee is too high?

Have you run the numbers to ensure they work for potential buyers?

If possible, reach out to the five people you spoke with and ask their opinion on why they didn't want to proceed. There may be a wealth of information you learn in those conversations.

Also, take your deal to a local real estate investing association and ask for their advice. I've found many to provide helpful information moving forward...and maybe an assignment!

Like in life, real estate investing is about exposure and experience. You're receiving both right now. You've taken action and this experience will grow you exponentially. Keep pushing forward.

I wish you all the best!

Hi, thank you so much for your response and the suggestions, this is really helpful. The idea of following up with the people I spoke with and asking why they didn't want to proceed with the deal is a great idea! Going to try that and see what I can find out.

0 Votes

Hello, first post here. I've got my first deal under contract, but I'm struggling to find committed cash buyers/investors. I've been in touch with five people who have all seemed exceedingly interested ("Looking to buy this ASAP.", "I'm very interested in this deal.", etc...), but when it comes to sending over the assignment contract, I hear nothing back despite repeatedly following up with them.

I thought my deal would be very enticing for investors out there (potential for at least $75,000 to $100,000 profit after rehab), so I'm not sure what I'm doing wrong. At this point, I'm just looking for a small assignment fee so I can close my first deal and move on to the next one.

I did make the newbie error of getting the deal under contract before finding a cash buyer list, so perhaps that was my big mistake. How do you guys find reliable cash buyers for your deals? I've posted on Craigslist, Facebook groups, HouseCashin, LinkedIn, 'buy my house for cash' websites, etc...

Would love some feedback! Thank you very much.

0 Votes

All Forum Posts by: Joe Barty-King

Joe Barty-King has started 1 posts and replied 4 times.

Post: What are the best ways to find cash buyers/investors?

Post: What are the best ways to find cash buyers/investors?

Post: What are the best ways to find cash buyers/investors?

Post: What are the best ways to find cash buyers/investors?