Lack of cash solds... Deal breaker?

Lack of cash solds... Deal breaker?

Hey guys,

As some of you know, we are starting up out in a new area. After finally getting my Realtor (it was like pulling teeth) to send me a list of cash solds, there are only 22 in the last 90 days, and that's for about five zip codes total.

Now, my gut tells me this is a bad thing and I should invest somewhere else. But do any of you see a silver lining to this?

Thanks

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Dominic

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Your gut knows!
Joseph


HELLO DOMINO

Matt says you only need 5 or 6 good ones.....he just said it his second time with dean last weekend. so call'em and see if you can make some money, what will it hurt to try. call and get there criteria and qualify them. you don't know how serious they are. remember to look at the details of the kinds of houses they bought beds, baths, location, etc. that will give you part of there criteria. heck if you make 5k on one deal it will have all been worth it.

BEST OF LUCK DOM,
WALT


would you get (m)any more

would you get (m)any more comps if you extended the time frame to say, 120 days?

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Thanks.


Yes, give it a try

Just work with the ones you have; I actually think it's not a bad number to start. Don't give up on them without looking!

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Dominic

What was the average DOM? If they are selling in 2 days (example) It could be a very hot area with high demand and no available inventory. If you could get a good property there it would be easy to make money on! Could be. So there is more than one way to look at those numbers. Could be bad, could be great. This is an example of how you must know the local market that you plan to invest in.

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

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Some things to ponder

Your intution is very important, so don't ignore it. But, with the 22 that are there, was it more than one entity that purchased cash? What is the data telling you. For example, where I lived there were 94 cash buyers. But you have to remember that some people had money on the sideline and they knew it was a good time to buy a house to live in. Then there are the corporations who have bought six or seven houses cash. So the actual number isn't as telling as who they are. Are these repeat buyers? Are these buyers the type that are holding a lot of properties? More info will give you a clearer picture. I wouldn't stop there, do a little more research, you already invested some time, I say try it out and see what happens.
Jeremy


22 in 90 days...

thats 1 every 4 days ...

try this since your REA are sluggish:
http://www.deangraziosi.com/real-estate-forums/everything-else/106174/fi...

May find More than what your looking for.

Mike

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Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools


Silver lining????

By looking at the "whole picture" you could see these numbers as (as M Mangham mentioned) good and/or bad. I'd look at them in regards to my needs. If I need only a few sales per given amount of time, these are okay numbers IF the profit potential fits your needs. (What if 1 sale makes your annual income goal? Would it matter that there aren't a lot of solds there?) Then again, if the profit potential is low and there aren't a lot of props being sold, I would keep this as an area of interest but not my sole area. (The good and the bad.) As RE is a numbers game, research the numbers and see where it takes you Eye-wink

Hope this helps...
Andy Sager
DG's AndyS
CFIC member

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Andy Sager
DG's AndyS
CFIC & IE member
2013, 2014, 2015 & 2016 EDGE Alumni Laughing out loud


GETS YOU THINKING THANKS DOMINIC !!!!!!!!!

anyone elses comments


Use other strategies

Rent to own

Lease options

Sell the notes

Everyone Needs a place to live

reply #7 says 1 purchase every 4 days...

Do you or can you come up with a DEAL every 4 days???

IF you can, that's 7 deals a month!!!!!!!

84 DEALS a year- ADD THAT up!

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Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools


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