Posted by Truth Teller on November 19, 2008 at 16:14:12:
In Reply to: What is your favorite strategy right now? posted by Kenneth Hocking on November 18, 2008 at 20:01:30:
We are mostly wholesaling to other long term players who want rentals not retail flips.
We target to make 5-8 a home and leave enough on the table that the landlord is in the deal at 75% ltv when rehabbed and closed into their refi.
We would hold more ourselves but credit is tight and deals are a plenty so we are wholesaling as a pimary strategy..
One thing we do differently is we put down $500 Earnest and then ask for permission to clean the place up at our costs 3 day labor guys and a trailer adn we usually are getting closer to 8K on the wholesales but we buy them right.