Start interviewing real estate agents to help you find cash buyers who can also help you make offers for properties on HudHomeStore.com.
To make a bid on a HUD Home, you will need to use a HUD-registered Selling Broker.
To find that type of agent, on HudHomeStore.com look for a link near the top of the page that says “Find a Broker”.
Click on that link and then put the State and City you’re interested in. That will bring up agents in that local for you to choose from including their contact information.
You can use these agents to help you make offers on HUD homes.
They may also be able to help you find active cash buyers on the Multiple Listing Service (MLS).
But if they aren’t interested in doing that for you too, you may want to find a separate agent for that task.
Your target real estate agent that you’re trying to create a relationship with to help you find cash buyers is one that’s new whose hungry and motivated to find you leads.
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CLICK HERE to figure out the low-price threshold HUD is willing to accept in your area so you don’t over pay.
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You’re looking for someone who will appreciate you so you can build a long term relationship.
Agents that have been around a long time and have lots of business aren’t the perfect candidate. You’re looking for someone new and fresh to the business.
Since these agents have access to the Multiple Listing Service (MLS), have them pull CASH transactions that have been recorded in the MLS in the last 90-120 days.
You can get a map of the results, or a copy of the spreadsheet they downloaded using the MLS.
With that information you can begin zeroing in on the price points that properties are selling, along with the hot cash buyer activity areas by zip code.
The reason for this is you’re finding out what the cash buyer market is buying.
That way you can supply the demand. You do that by targeting your marketing to acquire these types of properties.
Then you’ll want to begin separating that list by zip code. You’re looking for the areas that have had the most discounted cash buyer activity.
In the beginning, narrow your focus down to 3-5 zip codes that have the most cash transactions. If you’re finding a lot of zip codes, to help narrow down your search, look for desirable amenities in the area the homes are in that will help sell your properties.
For example: close access to transportation, freeways, shopping, entertainment, parks, good school districts, lower crime, etc. This criteria will help you find more desirable areas that people want to buy and live in.
Have your real estate agent or investor friendly title company help you find out information on the particular cash transactions that are discounted and appear to be investors.
You’re trying to track down who bought the property.
Check property tax records if necessary to find buyer information on these deals.
Once you’ve got contact information for these people and businesses, contact them and let them know you saw that they bought the property at 123 Main Street and wondered if they were in the market of buying more.
If so, find out exactly what they’re looking for and ask if they would like you to put them on your buyers list and be alerted the next time you have a property available that they might be interested in.
Also Google “wholesale properties” and “I buy houses” to find cash buyers as well. People who place these ads online, in newspapers, on bandit signs you see on corners, are investors.
Call them up and see what they are buying. Ask if you can put them on your buyers list.
CLICK HERE to figure out the low-price threshold HUD is willing to accept in your area so you don’t over pay.
I hope this helps!
Mark~
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