locking up deals / assignments only page

it would be better to make a buyers list first right, to find out what the buyer is looking for.

In my opinion, Yes! Your buyers give you direction and focus. Identifying what they want, then giving it to them.

An 'amazing' deal is only an 'amazing' deal if/when you can do something with it.

just my $.02

make it an awesome day.

jen

It is best to learn HOW to find, evaluate and get ACTUAL deals under contract.
What type of houses to offer on. Example: most move in ready houses are a waste of time for the assignment strategy. The owner occupant buyer will always pay more than an investor. You need to find houses that need work that are owned by a MOTIVATED seller.
You need to be able to determine what the property will actually SELL for after rehab. Not what some website says. Websites are ok to get general Comps but they will not tell you there is a liquor store one block away or the neighbor is a junk collector etc etc. Some comps vary street to street!

Then you must know what the rehab will cost to bring the Sell price you determine or make the property rent ready.

Then you need to know how to present the entire deal to your buyer and show him/her how much he can expect to walk away with after HE/SHE closes.
If you can not find, evaluate and present a deal then what good does it do to have multiple buyers??

DON'T get me wrong, ALWAYS build your buyers list, never stop.

AS far as looking for what the investor wants, this is what I have found in my area. TRUE CASH investors will take a deal that the numbers work on in most any decent area, the ugly house in a nice area. 95% will be looking for first time home buyer properties (entry level for the area) 3 bed room 2 bath room and a garage if possible. Or a 2/1 that can be added to. Think about it. Where does most of the buying activity take place? Where are the most financing options available? FIRST TIME HOME BUYERS!! Investors know this is where most of the demand is and it is easiest for their buyers to get financed.

Most new investors trying to use the assignment strategy never learn to evaluate the deal from their buyers perspective. What their buyer will actually put in his/her pocket when he/she closes. You have to show them:
Purchase price
Rehab costs
Holding costs based on average DOM in the area.
Expenses like insurance, utilities, money costs etc.
Selling costs: Commissions, closing costs
Actual ARV. Rental rates if the buyer is a landlord, Cash flow projections.
What is their ROI or cash on cash return??

Hope this helps.
Michael Mangham
MD Home Acquisitions LLC