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My House Deals

Your first tip regarding the legitimacy of such a buyer will be the company's sign. Does it bear a company name or just a phone number? A phone number without a company sign or logo is a red flag, as most businesses would want to advertise their name. Any fast-cash buyer who is even halfway legitimate will almost certainly have a website. Go online and look for it. You can try to trace the posted phone number to a name, but you might not have much success.

2. Be the first . . . or the last.

Many of these buyers route phone calls through services so they're untraceable. You might be surprised by what you find if you are able to find a name. Some of these buyers are real estate firms masquerading as opportunity investors—at least on their signs or in their advertising. They're just trying to lure you in to get your listing.

MyHouseDeals Postings

But even that might be preferable to a real fast-cash buyer. Look for a Better Business Bureau review if you're able to pin down a company name, as well as other customer reviews. You might want to consider listing your home for sale with a reputable, full-service brokerage if you aren't truly desperate. Fast-cash buyers don't care about the finer details of the transaction, and selling a home involves so many potential legal pitfalls that you could be leaving yourself wide open for disaster if they go unattended because you didn't use a reputable broker.

Getting a more traditional, solid, and lucrative deal can involve as little as finding the right real estate agent and making some minor repairs and cosmetic adjustments to your home. You'll receive cash either way, whether you sell to a fast-cash buyer or to a conventional buyer.

The difference is that a conventional buyer will probably pay more for your home and will also take out financing that will pay off your existing loan. In cases where you're truly struggling to sell, you might want to consider other alternatives to home selling. You might want to rent your home for enough to cover your mortgage payments or offer a lease-to-own option. A fast-cash buyer is not your only choice.

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  1. An Investor’s Guide to Wholesaling Real Estate.
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A professional photographer, with a strong portfolio, knows how to make rooms appear bigger, brighter and more attractive. The same goes for your lawn and outdoor area. Dimly lit online photos can turn off home buyers before they even have a chance to read about the lovely bike path nearby or the new roof you just installed. If a speedy sale is your goal, here are tips to get it market-ready and attract buyers:. Make yourself scarce when potential buyers come to view your home. Let them imagine themselves in the space, free from the distraction of meeting and talking to you. Generally, buyers are accompanied by their own real estate agent to view your home, or you can ask your own agent to be present at showings.

These are data sheets about recently sold properties in a specific area. At a glance, you can get an idea of what houses are going for around you. Homes that are priced too high will turn off potential buyers who may not even consider looking at the property. Tracking actual sales prices may give you a better picture than asking prices. After your home officially hits the market and buyers have seen it, the offers may start rolling in. This is where your real estate agent or attorney is your best advocate and go-to source for advice.

When you receive an offer, you have a few choices: accept the offer as it is, make a counteroffer or reject the offer. A counteroffer is a response to an offer, where you negotiate on terms and price. They should always be made in writing and have a short timeframe 48 hours or less for the buyer to respond. You can offer a credit for paint and carpet, but insist on keeping your original asking price in place, for example, or offer to leave behind certain appliances to sweeten the deal.

While your real estate agent may recommend you take the highest offer, look closely at other aspects of the offer, such as:. Any shortfall between the purchase price and appraised value will have to be made up somewhere, or the deal could fall apart.

1. Hire an agent who knows the market

From what I have seen, this site has people posting deals with phony or incorrect numbers in the ARV 's and rehab figures. Proceed with caution. Any good deal need not be posted on a paid ad site, a simple post on BP or an email blast to a buyers list would do the trick. If a BP member signs up for myhousedeals. I recently bought 2 properties off the site myself, so I know for certain that there are some good deals to be had. Plus we interview about 2 people a month who have bought properties and post them on our Success Stories page. We're a little behind on actually uploading those interviews, but we're working to catch up.

One good strategy is to connect with all of the wholesalers who post deals and get on their private email lists. That way, if they do email a solid deal to their own list before posting to myhousedeals, you'll be able to jump on it. Hope that helps. Most properties posted to myhousedeals.

That's why you have to analyze a number of them, look at a few, make some offers, and get some accepted. It's a numbers game and can be time consuming but worthwhile. All of the wholesalers who I've recently bought properties from have posted properties to myhousedeals at one point or another and all have their own email lists that they blast deals to.

Some of these wholesalers have started blasting deals to their own lists first, and if they can't sell it there, then they post to myhousedeals. So that's why you want to be on their email lists But again, you can meet all these wholesalers on myhousedeals, even with a free account. If you don't feel the deals are good enough or like working with wholesalers, there are plenty of other reasons to join the site Will, you were a member in the LA area at one point. Maybe the deals there weren't as solid when compared to other markets for one reason or another. Im a little confused Doug, I thought that by upgrading to 'premium' gives you dibs on houses 14 days in advance over the free members?

But now you say you need to be on an email list to get 'first dibs'. Does it cost more money?

If so, that will lead me to become dissatisfied with the website. A free membership gives you a day delay, so it's really tough to get deals that way. Good ones go within the first day or two.

How To Sell Your House: A Complete Guide |

A premium membership allows you to get access to the deals in that time frame, so the odds are much higher that you can pursue and purchase a property that meets your criteria before it's sold. But regardless of whether you stick with a free membership or upgrade to premium, you should reach out to the wholesalers individually so that if they do have their own email list, you can get on it.

This allows you to access deals that might never even get posted to the site. Doing that is free. That may be true and after seeing lots of falsified info, I left and did not return. If you truly have those and they ended up being that, after sale records, then congrats, those are real deals and great ones in my opinion. I had the exact same experience as Will did on this site and I was a premium member for a short time. The numbers on all the deals I looked at were hugely fudged. I think the concept of the site is solid and it would be awesome if it worked the way it is intended.

The issue comes down to a very common and age old problem, the credibility of wholesalers. Very simply, on the whole, they have little. I would like to hear positive experiences from someone other than the owner of the site, Doug Smith. In a few threads about this site I haven't heard anyone finding a good deal there. You're right. Wholesalers post ARV and repair estimates that are way off on most deals, and we're open about that on the website.

That's why the best strategy is to ignore those values and focus on the asking price. And then to offer a few thousand less than the asking price.