When I do a "fast cash" deal, I have to be able to offer it in a way that attracts buyers FAST. If I am simply looking to resell it for cash, I have to get enough of a discount to be able to offer it at a good enough discount to attract someone else to buy it fast.

For example, if I am paying $175,000 for a house appraised at $235,000, I can turn around and advertise it by saying "4 bedroom, 2 bathroom home in a beautiful neighborhood. Asking $40,000 BELOW APPRAISED VALUE!!!!" This will attract a lot of buyers fast.

Now in the example I used in my last post, I was offering the property at full market value, BUT with owner financing. This means that people with less than perfect credit would be encouraged to take a look at the property. I had a TON of calls on that property, but ended up selling it for a lower cash price.

In the case where I am doing a lease option and offering to "take over payments", I negotiate 2 to 3 months before I have to make a payment. Now because I am turning around and offering the property on a rent to own, I still get a ton of buyers interested very quickly. In most cases, it only takes me about 2 weeks at most to get a tenant/buyer in these properties. However, I want to make sure that there is little to no chance that I will ever have to take money out of my pocket to cover a payment. If I do indeed get someone in there in 2 weeks, the next 2 months' worth of payments are mine and are profit!

As I said, the properties I pick up must be offered in a way to get buyers fast. That may involve a low cash price or special terms. This is how I get these closed FAST!

Matt Bowman
Related link: www.REItoolbox.com