Let's say you are looking at a REO for which they want 25k and they have just come down from 29k. The bank apparently did not really look at the property because it isn't worth the asking price. The only good part of the house is the structure; the house would have to be gutted to rehab. You don't want to do it yourself but you would buy it to flip if your low ball offer on it got accepted.
You would not be interested otherwise, but you don't want to let this property go just yet. The interesting part is a realtor who listed it didn't put a sign in the yard. No one knows the house is even available. Besides, sales comparables are 45-106k after rehab.
So why indeed there is no sign in the yard? It could be one of two reasons. One reason could be is the realtor is lazy.
Reason two. If a realtor knows what he is doing, it means he has investors or friends he is trying to hold the house for. Then they may hope no one notices the property and they will get to sell it to their buyer who buys all the time from them and closes all the time. They may know it needs to get to a certain price range in order for their buyer to pick it up.
Well, it happens all the time, and quite frankly that is just business and building relationships. You eventually want to be that person. This kind of relationships is the reason one has a success in real estate business. They are not hard to build but they do take a little skill. - 16003
You would not be interested otherwise, but you don't want to let this property go just yet. The interesting part is a realtor who listed it didn't put a sign in the yard. No one knows the house is even available. Besides, sales comparables are 45-106k after rehab.
So why indeed there is no sign in the yard? It could be one of two reasons. One reason could be is the realtor is lazy.
Reason two. If a realtor knows what he is doing, it means he has investors or friends he is trying to hold the house for. Then they may hope no one notices the property and they will get to sell it to their buyer who buys all the time from them and closes all the time. They may know it needs to get to a certain price range in order for their buyer to pick it up.
Well, it happens all the time, and quite frankly that is just business and building relationships. You eventually want to be that person. This kind of relationships is the reason one has a success in real estate business. They are not hard to build but they do take a little skill. - 16003
About the Author:
About the author: Jesse Davis is an experienced wholesaler in the Jackson, Mississippi, Real Estate market. He has wholesaled over 80 properties this year alone, and he teaches a seminar on how to really be successful in today's market. Go here to learn how to find all the buyers you will ever need to build a massive monthly income in Real Estate today
