Investors and fees

Investors and fees

I have called around and spoken to a few investors. Most of whom pointed out that they only invest in properties discounted of at least 40% of the FMV. Is that the norm? Some of the investors even wanted such a discount with the property being in good condition. Now, since I've never done any of these before, am I correct to assume that such deals might be more likely to come from short sales? And since dealing with banks might be a little more difficult (they don't like the assignments), would some investors work with one so as to give a letter confirming the availability of funds? Any ideas or where to find reliable investors would be appreciated. I have been looking up google and my local paper. I am not afraid to talk to people. I just want to at least get viable investors lined up before I did into to the bird dogging thing..

Thanks all..

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Investors and fees

Here are a couple of ideas to find investors to work with. Look for investment clubs in your area and attend one. These are clubs where you can meet people that invest in real estate. Another ideas is to call bandit signs. These are the signs you see around that say "I buy houses" or "Cash for houses". These are typiclly investors looking for deals. Call and see what they are looking for and then start looking.

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tredan

The norm is usually 50%-70%, but in today's market it's a good probability it's 40%. But each investor is different so you may find one anywhere in between 40-70. Well, it sounds like these investors want you to HAND them the contract... LOL! I'd keep looking, the more you have the better off you are. Try putting your own ad on craigslist & backpage. Call bandit signs, go to REI clubs, call all we buy ads, they're even in the phone book, call homevestors, look in smaller papers that circulate weekly. They're everywhere, so consistantly keep looking to build your database of buyers.
Best of luck!

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Cool Elena Cool
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."


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