Home Selling in Saint Paul>Question Details

Jackie Kujak, Both Buyer and Seller in Saint Paul Park, MN

How do you find an investor who would like a low cost property for fixing up?

Asked by Jackie Kujak, Saint Paul Park, MN Fri May 7, 2010

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Go to your local real estate investment club and announce it. Here's a link to clubs in Minnessota: http://www.creonline.com/real-estate-clubs/mn.html

What investors will want to know is:
-->What is the ARV (after-repair value) of the property?
-->What repairs (dollar amount and list of the major ticket items) does the property need?
-->What would the property rent for?
-->What's the least you would accept for the property?

Hope that helps.
0 votes Thank Flag Link Fri May 7, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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Jackie
I would recommend talking with three Realtors. Have them analyze your situation, both the buy and sell sides, then compare their proposals.

In most case investors have a goal of buying a property for 20-25% BELOW market. Why would you want to sell 20-25% BELOW market?

I'd sell it for the HIGHEST price possible, if it were me. LISTING it 20-25% below market will ATTRACT the investors you are trying to contact. Most investors have REALTORS as part of their team, so if there is a "good deal", they will find out about it.
0 votes Thank Flag Link Sat May 8, 2010
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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Jackie, one of my clients is Homevestors (we buy ugly houses people). I could possibly help you get an offer on your property. Let me know. Thanks.
Web Reference: http://www.lennyfrolov.com
0 votes Thank Flag Link Sat May 8, 2010
Find a Realtor that works with investors. If you need help let me know. I work with some investors, and I know agents that work with them also.
0 votes Thank Flag Link Sat May 8, 2010
I work with a number of investors and belong to the Minnesota Real Estate Investors Association (MNREIA).

What do you have in mind?

Steele V. Propp
Certified Distressed Property Expert
Schatz Real Estate Group
steelep@aol.com
0 votes Thank Flag Link Fri May 7, 2010
A lot of real estate agents work with investors and have huge databases of investor buyers looking to buy property as an investment to either rent out, or fix and flip. Try contacting some local agents to see if they can help you out.

Good luck,

Richard Schulman
Keller Williams Realty
0 votes Thank Flag Link Fri May 7, 2010
GREAT QUESTION Jackie!

The best thing to do is find a reputable Realtor in your area or the area where the property is located, who not only works with buyers and sellers but also works with investors as not all real estate agents do. They will have a large data base of all different client types which will most likely give your property maximum exposure to potential buyers. . If you have further questions please feel free to contact me by e-mail at azlynbeck@kw.com.
0 votes Thank Flag Link Fri May 7, 2010
One additional thought:

E-mail me the answers to those questions, and I'll see what I can do.
0 votes Thank Flag Link Fri May 7, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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