You spend a lot of time exerting a lot of effort marketing a property for sale. Then, you run into a Buyer who claims (says) you don't need to work so hard.
They're easy. They have all cash and can close real fast!
You think your efforts are finally paying off!
Phew! That was .... Wait!
That was too easy....
And, so it goes. You work so hard to get a fair market value offer for a property listing, and then, all of the sudden, along comes a Buyer with cash. (So, they say.) You think your effort has finally come to fruition? Or, has it?
This is a scenario I have run into for a long time since I obtained the Listing on several Las Vegas Properties. I worked my marketing magic as best I can; and, then out of the blue comes a Buyer (a Flipper), who presents themselves as the key to my success.
(They claim) They are an ALL CASH Buyer who can close easily and quickly -- if the Seller can carry back a 2nd for six months to a year.
Sound familiar?
I've heard this a lot in the last year or so. It's become so redundant, I can recite their pitch in my sleep.
The Seller, who I have known for a long, long time, is a well educated property owner with a lot of experience in owning, buying and selling real estate.
And, yes. He buys low and sells high. (That's the Golden Rule of Real Estate.)
So, when he told me he will NOT carry back a loan, I knew, right from the beginning, he knew the secret of a Flipper. That is because he's a Flipper, too!
But, since I've known him, he's always been the real ALL CASH Buyer type that does pay ALL CASH and he does closes quickly. (Less than 30 days).
He isn't a Buyer who tries to get a carry back from a seller. He pays cash, fixes the property's problems, then re-sells.
Moral of the story, if you are a flipper, and you want to steal equity, you need to do it quietly, quickly and move on to the next property in a blink of the eye. To do that requires ALL CASH.
Get in. Close. Then, Get Out.
Carry backs only keep the Seller's interest in a property. It allows the Seller to keep an eye on what you are doing. And, that creates the problem. Once the Seller knows you are stealing their equity, that's when the Buyer's problems begin.
And ALL of Your Efforts were for not.
Moral of the Story, I will keep marketing and putting my effort into finding a Buyer who wants to own the property rather than someone just looking for a flip.
It really does matter.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
They're easy. They have all cash and can close real fast!
You think your efforts are finally paying off!
Phew! That was .... Wait!
That was too easy....
And, so it goes. You work so hard to get a fair market value offer for a property listing, and then, all of the sudden, along comes a Buyer with cash. (So, they say.) You think your effort has finally come to fruition? Or, has it?
This is a scenario I have run into for a long time since I obtained the Listing on several Las Vegas Properties. I worked my marketing magic as best I can; and, then out of the blue comes a Buyer (a Flipper), who presents themselves as the key to my success.
(They claim) They are an ALL CASH Buyer who can close easily and quickly -- if the Seller can carry back a 2nd for six months to a year.
Sound familiar?
I've heard this a lot in the last year or so. It's become so redundant, I can recite their pitch in my sleep.
The Seller, who I have known for a long, long time, is a well educated property owner with a lot of experience in owning, buying and selling real estate.
And, yes. He buys low and sells high. (That's the Golden Rule of Real Estate.)
So, when he told me he will NOT carry back a loan, I knew, right from the beginning, he knew the secret of a Flipper. That is because he's a Flipper, too!
But, since I've known him, he's always been the real ALL CASH Buyer type that does pay ALL CASH and he does closes quickly. (Less than 30 days).
He isn't a Buyer who tries to get a carry back from a seller. He pays cash, fixes the property's problems, then re-sells.
Moral of the story, if you are a flipper, and you want to steal equity, you need to do it quietly, quickly and move on to the next property in a blink of the eye. To do that requires ALL CASH.
Get in. Close. Then, Get Out.
Carry backs only keep the Seller's interest in a property. It allows the Seller to keep an eye on what you are doing. And, that creates the problem. Once the Seller knows you are stealing their equity, that's when the Buyer's problems begin.
And ALL of Your Efforts were for not.
Moral of the Story, I will keep marketing and putting my effort into finding a Buyer who wants to own the property rather than someone just looking for a flip.
It really does matter.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
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