As the market is heating up, in some places it’s already super hot, the competition for the fewer and fewer “junk house” rehab deals is getting fierce!
For every super Motivated Seller, there are dozens of “kind of” motivated sellers out there. Sellers who just “really, really want to sell” vs “need to sell, and sell now.”
Most Investors, your so-called “Competition”, spend a lot of time, money and effort finding these kind-of-Motivated Sellers, but can’t do anything with them.
And in many markets and especially Hot Markets, there’s a lot of them!
But there is a way to tap in to those 99% of Sellers, and it’s called the “7 Day Method”.
Here’s how it works…
1) The first step is, you need to find some potentially motivated sellers.
If you’ve been in the business long, you probably already have a stack of leads from Sellers who wanted to sell, they were kind of Motivated, but just not motivated to sell at a low enough price to pay all cash.
If you don’t have deals flowing in yet, I’ll tell you in just a moment how you can get my #1 deal finding method ever, and use that to generate all the Seller leads you could ever want.
2) You and the Seller agree on a price at which they would sell.
Once you locate a Seller who is kind of motivated, and the two of you agree to a reduced price (but it doesn’t need to be as low as the Wholesale “All Cash” price), you simply “tie up” the property using a technique I call, “Control Without Ownership”.
Now, you have to do this right, but once you do, you have the right to buy that property at that slightly lower price, as you and the Seller agreed on.
And since you have the right to Buy it, you are a “principal” in the transaction. It conveys that right.
That means you have an equity interest in the property, starting at anything above the amount you have the right to buy it for.
An easy way to think of it is that the Seller has the right to all the equity from your Purchase price down, and you have the right to everything above that.
Make sense? If not, bear with me just a moment, and it will 🙂
Once you control that property, your interest, that right to buy it, gives you the right to sell it.
Again, it’s like you and the Seller are “partners” if you want an easy way to imagine it.
3) Next, you need to market the property and find a Buyer.
Now, if you know me at all, you know I HIGHLY recommend the “7 Day Sale” Method for selling houses quickly and for top dollar, and it’s the very best way to get retail deals sold fast.
One reason I love the “7 Day Sale” Method is that it brings you the highest paying Pre-Approved Buyers with down payments and credit to match in… you guessed it… 7 Days.
So no waiting for Lease Options, no hoping they can qualify, no wondering if the Buyer has the downpayment to close, nothing unusual to explain to a Title or closing company like in a junk house flip, it’s all pretty standard, reasonable, and customary.
The Seller (and you, as their partner) is selling the property directly to the Buyer, and your cut of the profits, everything ABOVE your agreement with the Seller, that part of the equity you have the right to, becomes cash profits to you at closing!
And you make those profits without the usual hassles of landlording or rehabbing, without fixing or cleaning or dealing with Contractors, deadbeats, etc. like the old fashioned “Rentals and Rehabs” Trap (that never really worked very well for anyone, actually).
You can do it without borrowing money of any kind from anyone, so no downpayments, no credit checks, no negotiating with lenders or hard money, because you don’t need to fund the deal.
And, maybe best of all for you guys in those hot, highly competitive markets, you can do this on deals WITHOUT a huge discount, which lets you tap in to the 90+% of Sellers that are NOT super-Motivated!
That means MANY TIMES more deals, and WAY less competiton, which all adds up to some pretty excellent upfront profits for YOU!
If you’d like to know more, and have me explain the “7 Day Method” – both the Buying Method and the Selling Method – to you in detail, I’ve released a full-length training about it that you can have FREE!
Just check it out here.
You’ll see some pretty impressive examples of Student deals, and I’ll send you that training on the “7 Day Sale” Method. You’ll also see how you can get my #1 Deal Finding technique, as a free gift!