RBBP WORKING LIKE A CHARM

RBBP WORKING LIKE A CHARM

little proplem.I just received info from my agent that there was 53 homes sold in my target area and only 3 THREE investors in all. now that creates a bit of a problem with my buyers list short term going forward to page three in the rbbp program. yes or no?

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Glad to hear that.

Well, that may be a good thing, you may be looking at the only SERIOUS investors in your area. The other thing is that probably isn't the only investors in your area. Some may just not deal in residential properties. If you think you can handle commercial and multifamily properties, you could target those investors. The difference between buying residential and other property types is really only that there are more zeros, that the numbers are run slightly differently, and that your lender may require some more qualifications or info.
If you don't have much competition going on in your town, maybe you should 'make' some investors. Hold an investor lunch and pitch those interested in investing in real estate(doctors, lawyers, CPAs, real estate agents?) on your services(wholesaling)
I wouldn't jump ahead on the RBBP, just keep looking for more investors.
Good luck!

RENinja

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"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee


I always say ...

A little bit of something is better than a whole lot of nothing. Eye-wink

I too have been following the RBBP with the same results (limited number of investors per target area). However, you can still go through the plan with a limited number of buyers because it only takes 1 to buy and 2 to start a bidding war. The suggestion for multiple buyers is to give you more leverage to possibly demand higher fees and/or quicker responses from your buyers. That being said, your list only includes buyers from a particular time frame. Nothing says that 2 or 3 months from now, more investors will be on a then current list. Just keep getting updated lists.

You can also start calling for rent signs/ads and talking with the owners to add them to your buyer's list as well as posting ads on your own looking for more buyers. The more the merrier Smiling

Hope this helps...

Andy Sager
DG's AndyS

Former New Jerseyite! GO GREEN WAVE!!!!! Eye-wink

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


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