When you first start in this business, you may hear that you need to be submitting at least 100 offers per week on houses that you are trying to flip. After all it is a numbers game right?
I'm here to show you the pros and cons of putting in all those offers.
PROS
You get offers on houses accepted and you make money when you flip a house right? Close multiple deals and build a relationship with an agent and get properties fed to you on a silver platter. The chance to have multiple properties in your pipe line so that if one or two houses dont sell, no biggie. You still have more on the back burner.
to be honest the pros are pretty slim but it can really pay off big with the more offers you get accepted
Now the cons
You could get more homes under contract than you can physically handle. You never know. Sometime the banks accept those super low ball offers You get overwhelmed when some agents are calling you back being nosy wanting to ask about your offer. Imagine getting agent calling you back for properties you dont know the first thing about the offer you submitted? You could look unprofessional if you don't know anything about the house your trying to flip Flipping bank owned houses requires you to put a earnest money deposit (EMD) down. If you get 10 properties accepted and don't already have buyers for them, you've gotta work like heck to find some cash buyers to put the deposits down or lose the properties for not having a deposit in. This is a sure way to get black listed.
The big guns in the biz who submit 100s of offers have assistants and agents that do it for them. Trust and believe they're not sitting at a laptop submitting all these offers. I tried this and after 40, felt over whelmed due to agents calling me back and I wasn't organized the best.
If you want to submit this many offers on houses, have a system in place so that you can stay organized. Not saying don't do it. Just be ready for what ever outcome that my come from submitting so many offers on houses.
Want to get started in real estate with out having too much money? Below is where you need to see.
Don't wait til tomorrow to learn how to flip homes! It's a lot of money to be made in this real estate business and it's not going to wait on you. Go to my Flip a house website and learn everything there is to learn about flipping homes for FREE.... and just so you know, the gurus are charging 1000's for this info but not me...
I'm on Facebook right here Dennis Marshall
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