Hi guys. Recently I invested in some signs around my local area for 180 dollars. I returned about 7 calls that were people willing to let me buy their houses for whats owed but they owed more than the house was worth therefore making it not marketable.
I bought 50 signs and put 25 out. I have 25 more I'm looking to put in a neighboring city with a higher value of properties so I'm hoping this more residential area will have some people with equity in their homes.
So far this seems to be a huge issue. Just wondering if anyone out there has any advice on how to find sellrs with enough difference between what's owed and what the house is selling for to be able to flip.
By the way, I'm doing assignments. I'm putting the house under contract and doing owner financing into a lease purchase situation.
I'm partnering with an experienced investor but all he really said was, "these houses don't have enough spread to purchase, but Good.. You're getting leads."
I'm quite frustrated and feeling like I'm more of a bird dog than someone being mentored. This doesn't look promising at all. I've also been handing out business cards and posting lots of flyers. Any help as far as finding marketable houses is appreciated. Thanks.