New York City- Money to be Made...Need Advice

I am not quite sure I understand you. it sounds like both buyers are end users and are not going to turn and flip for a profit. Also understand that if the two buyers do not have representation, you cannot represent them as a buyers agent unless you are licensed.
The way that I have always understood wholesaling, you are assigning contracts to other investors, not to end users.
please let me if I am completely off base. by the way I am NYC myself and always looking for good deals.

Welcome to the DG family, we're glad to have you here. What you need to find are houses that are for sale by owner. NO Realtors involved. Since your buyers were blown off by them I'm sure they have no problem with that. Deal with the seller directly, it's much better in the long run for all parties involved. Once you find a house, you have to lock up the contract, that gives you control of the property, you can do this with as little as $50 if you negotiate it right. Then you can assign the contract to your buyer with your fee included in the sales price. Most Realtors won't do that because they want that 6% for themselves. At least in my experience that's been the case. I chose NOT to share my profits with Realtors anyway, but again that's just my preference. So start looking for FSBO with motivated sellers.

Hi Elena,

I have been checking Craigslist for properties that are FSBO, but each time it turns out that an agent is representing the seller or the seller is an investor themselves. I have seen ads that say "no realtors" and things like that because like I said, as it turns out, they are realtors themselves. I have tried to screen out these ads but I am not finding sucess. Do you know of a way or a sight where I can find owners who are selling their homes without an agent? It seems difficult to find them.

Thanks.

Hello Nick,

Nice to know there is someone on here from my area. I always feel like the oddball.

But anyway, I have 2 families that are looking for homes. I am focusing mainly on 1 buyer at the moment because she has wants something like yesterday. I think what I am going to have to do in order to make money off this opportunity-she wants to spend 650,000- is what Elena and others have suggested. Once I find a property, and I think I have something they will love, I will lock up the property on paper with the owner and then I will assign that contract over to them. Elena suggested that I include my assignment fee in the purchase price. But then my question is how and when do I get paid? I always thought that when you assign a contract the investor pays you upfront for the contract at an agreed upon price of the assigment. Since in this case the person I am assigning the contract to is actually the buyer, so ok I include my fee in the purchase price and then what? I would not want the seller to know that I upsold their home, I thought the buyer and/or investor still pays the agreed upon price in the locked up contract, and they are just paying a fee to take over the deal. Did I miss something, please explain? I am still learning sorry.

They're not difficult to find, just keep your eyes focused on them so you will start to notice them... Go to google, search free for sale by owner or fsbo, see what comes up. Did you do that with your craigslist search too? Just helps to weed out those Realtor adds... Also try backpage.com, myspace, yahoo real estate, even youtube, everyone's utilizing the web nowadays. Do you have little papers like the shopper, dandy dime, thrifty nickel, something like that? They're are ads in there as well, also walking or driving through neighborhoods is another great way to find them. I found my last house that way. Where there's a will there's a way, keep looking because it sounds like you have buyers lined up waiting. If you look for the solution to their problem you'll get paid as a result of it.
Good Luck!