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How to Buy at or Near Wholesale
| | Thursday, December 07, 2006 @ 09:15 AM EST
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Contributed by: Joseph Beauvais
Joseph Beauvais Properties
Read more archived articles about Buying
Wow! all of these TV ads to buy wholesale and make a fortune.
Do they really work? How much time is involved? How to start? I have little money but good credit, can I buy?
Answers;
1. You can do all of this yourself. If you have tons of spare time and want to compete with hundreds of others doing the same. Remember time is money. Spend it wisely.
2.Yes, you can really make a fortune.
3. Yes, you can start with little money.
*Now let me tell you the real ins and outs.
Investors know when to buy. Down stock market is prime time. Watch the stock market. High, buy, Low, sell. (Unless you want an income property). High stock market indicates investors are not buying Real Estate for investments. Great opportunity to buy and save distressed sellers from foreclosures.
*How to find them? Banks now list these with R.E. agents. You must find a good R.E. Buyers agent that is not lazy.
+ The best way to find these steals is to find an agent that works with companies that have many crews making offers on forclosed, Preforclosure, bank owned, mls and fisbo properties wholesale. You alone cannot possibly do all that they can do. Plus, if you try to do it yourself, you will get eventually emotionally attached or tired and pay too much. They add a little and sell at 20-30% below market. You need to buy their contract from them for cash. First you need to make absolutely sure you get a loan guarantee first. Do all the work with the lender first to make sure you pre-qualify (good for 2mts only). Choose your lender carefully and shop. This is not for the buyer with little money down. Sellers have lowered their prices so much that you would have to increase the sales price to cover the closing cost and have the cash to buy the assignment contract. The sellers will not and cannot do this. These are distressed sellers.
If you have good credit (620 or above) with little money. You must shop fisbos or Mls. To do this you need to find a Buyers agent that will show you more that a few homes and is energetic. Some are lazy.
I have the lender in hand that has so many programs to satisfy residential, investor or commercial buyers at very low rates. I have been working with all the above for 19 years.
If you want to buy in S.W. Florida, Lee County, I am a buyers’ agent that owns his own company. Go to my site and look at the wholesale properties. They sell in less than a month. These are assignments. Read about buyers’ agent on my web site. This site is only for buyers. http://www.sunnyspotrealty.net/ Joseph Beauvais
Note: Visit me at http://www.sunnyspotrealty.net/
Joseph Beauvais Owner/Agent
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