Finding Buyers in Michigan (Frustration Mounts)

Finding Buyers in Michigan (Frustration Mounts)

Hello everyone

Im still working on getting my first deal and its driving me crazy. I discovered a way of finding other investors by going to our states website and it lists all investors that offer section 8 housing with their name and phone number. Now in Michigan there is a foreclosure on every block because of all the job losses. So as I call all these people and ask about selling their properties and or buying more properties i get the majority of them saying "Why do I need a middle man when I can just search for the deals myself because the foreclosures are so many". I explain to them the more resources the better. But in this area of Ann Arbor and Ypsilanti, Mi. Wholesaling seems to be very hard because the foreclosures are many. Maybe i need to change my strategy to lease options. I like the idea of wholesaling because their is no responsibility, once the deal is done, its done. lease option you have responsibilities as a property manager to the current owner and the lessees.

I have a good credit score myself but I bought four rental properties a few years back with a sub prime loan in bad areas in Detroit, which turned out to be a horrible Idea and had them all foreclosed on. So me going to a bank and getting money for a cheap foreclosure would be non-existent. I will try it anyway, all they can do is say no.

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Joel Thomason
Thomasoninvestments.com


That is a good question, I

That is a good question, I actually had the same problem while explaining to my friends and family what wholesaling/assigning contracts was. I couldn't really think of a good answer as to why anyone would need a middle man, other than finding better deals than they could find themselves.

I am looking forward to any answers you receive!

Thanks

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Dominic

Are you new? Check out my NEW and IMPROVED Guide for Beginners! http://deangraziosi.com/real-estate-forums/everything-else/128413/domini...


Joel

The deals you find have to be KILLER deals, thats why they would pay you to find them. Dean just talked about it last night, everyone can find good deals but with his strategies and techniques when you start finding the KILLER deals the buyers will come. That's what you need to be looking for.

Cathy

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Cathy B

Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...


How About if

you ask them if you can help them find even more great deals? I don't think serious investors leave any doors closed. Here in our area the majority of homes that are selling are foreclosures being bought by cash investors. So some investors aren't even getting into foreclosures anymore because the competition is fierce and they are outbid. Others know someone on the 'inside' to help them.

Lea
SPR Property Solutions, LLC


Buyers List Source

You might also want to check into different ways on finding your Buyers. You can use more than just that list to find cash buyers. Try looking on Craigslist for people that are looking to buy houses (preferably cash buyers [investors] if you plan on assigning).

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Dominic

Are you new? Check out my NEW and IMPROVED Guide for Beginners! http://deangraziosi.com/real-estate-forums/everything-else/128413/domini...


Finding Buyers in Michigan (Frustration Mounts)

jthom71,
Hi, I dnot know how much this will help you but you might try http://**** its a website for investors. I know that in my area, Virginia, I was able to find a cash buyer listed. Hope this helps.


Finding Buyers in Michigan

We are finding the same situation in the Lansing area. We need to try different tactics until we find something that works. REI clubs have not produced any leads for buyers so we are off to the auction. Housing is bad enough, but when you travel the business district, they are closing doors as much as foreclosures in the area. Makes it kind of difficult to promote good shopping... however, there is plenty of good parking (lol). I have responded to other posts from DG members in MI who were looking to brainstorm and share knowledge and had no response. PM us with contact information if you are interested.


Strategy's for michigan

I'm wondering what will be the best avenue/technique to use in SW michigan for a newbee with no money or credit.I've read allot on this site and just when i think i have a strategy that will work. I read something that sounds reasonable that points to it not being so successful. Any ideas?

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"Every failure brings with it the seed of an equivalent success"
Napoleon Hill

http://www.deangraziosi.com/real-estate-forums/investing-journals/42379/...

Mike
Kalamazoo,MI