how to attract a partner for abandoned and Reo properties

First off, just keep doing what you are doing! If you are good at finding a great deal then money will always follow! You have a few options. You might want to find investors to assign these properties to and just collect a finders fee. That can put some quick cash in your pocket and which also helps you build report with investors to actually partner up on a deal with completely. Also look into how to form deals that are "subject to", "lease option" and/or a "sandwich leases". All these can be a great start for someone with little to no capital and unideal credit.

I've written a post titled a "quick way to build a buyers list" that may be able to help you out. But If you work on building a qualified buyers list just as you do finding good deals then you will be able to make money on almost every good deal you find in some sort of way wether it be you taking control of the property, or an assignment.

Please fill in your bio and let others know about you and where you are located. Tammy

Hi Brandon,
First, as Tammy suggested, you may want to fill out some information on your profile, so that other investors on this site can know a little about you, and where you're from, so that they can network with you.
There are many investors here that look for great deals, so I'm sure that if you have some, you will not have a problem finding a partner or a buyer.
To put a property under contract, you don't need any money or good credit. You make an offer to the seller, and if offer gets accepted, you sign docs, and give seller the earnest money, which can range from $10 to $1000, depending on the seller and how you negotiate it. The EM can come from your buyer, or your partner, or you can borrow it...
Once you have the property under contract, before you offer it to an investor, make sure you do your due diligence, and get your numbers, i.e. ARV, rehab list of items and cost, closing costs, etc....

Wishing you success,

Thank-you for your input. I have followed your advice and filled out my bio and also read lifechitect's post. Thank-you for your advice.

As a coach, I think one of the best things you could be doing at this time is learning to wholesale in order to make yourself some money. To do a double close or to assign a property you do not need to have a partner.

Take advantage of the coach's advisory line. this will keep you going down the right path. Keep active on this site. It will be a great help to rub shoulders with other students.

As you get some deals under your belt, you will then have the cash you need to do other deals.

I wish you the best of luck!

what is the difference between controlling the property and assigning? As far as I understand, in order to be able to assign the contract you have to get the property under contract, at this moment I am in control right?

i found an abandoned home and tracked down the owner who just filed for bankruptcy. I was wondering if you could give me some suggestions on how to make a deal if a home is with an owner who filed bankruptcy. i was thinking of getting his payments up to date
taking over the house (in some way...that is what i am asking of you) then i was thinking i could put it on the market and i could split the deal with him.

He can do all the labor and i can maybe put up the money depending on the situation
(i have not had an official meeting with owner as of this date) hoping to har form him tomorrow.

Tell me pls what the ramifications are to work with a deal under bankruptcy and do i work with owner...the bank... his lawyer...who?????

Pls advise
thanks
donna
ps i go by the name Cosmas in the DG family and i do not have anything written about myself in the blog as i do not believe in putting my business out there...i am not sure if we can send our emails out but if you know that we can pls send me your email or just answer me here.

THnaks
Cosmas

Will stop the sale if on that particular properly the sale date hasn't passed.

Also, now the property would have to be released from the bankruptcy court to be dealt with.

So, has the sale date passed? Are the homeowners still owning?

the owner took off..so i guess the deal is off..i know who he is but do not know now where he is living. left messages on his door..but they are still there. i guess he is not coming back to his home????

We will see

donna

1. find deal and lock it up

2. use rehab/wholesale tool link below, create summary and SHOW them how much they will make and basically how much of an idiot they will be for NOT taking the deal!

"Show me the Money!" is what your buyers need to see...EASY!