I have not yet created an LLC, which leads me to question 1.

Originally posted by Al Elliott:well i know targeting buyers that don't search the mls is kinda rough since most savvy investor with deep pockets have access directly or indirectly so how do i alleviate this situation, especially if its a cash buyer that is an agent as well If your target buyer is an agent (or otherwise has MLS access), you're not going to be very successful wholesaling REOs.As an example, I'm an investor with my license (I have MLS access), and while I've gotten lots of "leads" from wholesalers on REOs, I've never had a lead that:1.

It's based on too many assumptions that may or may not be true, and can lead to both overpaying on a property (to the point of not being able to generate a profit) or under-bidding on a property (to the point of not being competitive and not getting any deals).I much prefer to use analysis techniques that take into account the actual cost of capital for the individual investor (are you using your own cash, borrowing hard money or something in-between), the actual cost of commissions and closing in a given demographic (sometimes the seller will pay buyer closing costs, sometimes not), the actual time you expect a rehab to take (a six month project has vastly different holding costs than a two month project), and the risk on the project (is 15% return enough or do you want 20-25% returns on more risky/costly projects), etc.70% rule is lazy (IMO) and while it's fine for a first-pass analysis, if you use it to make buying decisions, you may find it impeding your success.

you could raise rent to cover it, but that may get you fewer leads.

Even though usually the possibility of a short sale will lead the lender to postpone the foreclosure date.

it will also lead to more investors jumping in;albiet haphazardly...but could impact prices.

I ordered 250 postcards that I'll be mailing out to multifamily owners that will hopefully generate refinance leads.

Just curious where did those leads come from?

Try not to lead with your questions - this is a skill.

That tells me that the buyer is in fantasy land.The odds of finding that deal and closing it and me getting paid is slim to none.Real brokers and agents aren't in the charity business.You might get a new agent to help a new investor and that can be the blind leading the blind.So is the buyer serious and realistic for the market is the key.There is a difference between a loser deal,marginal,good,great,and insane deal.If as an investor you can get into a good to great deal for an area you are realistic.If you are looking for an insane deal shotgunning all kinds of unrealistic offers you are not only wasting the broker/agents time but also yours as well.So do not always blame the broker/agent for not getting the deal you want.It could be you are unrealistic in your goals for the area.If investors are gobbling up properties at 50k and you want at 30k then you need to change to an area to find 30k properties or come up closer to 50k to compete.