Consider asking the seller to provide owner financing for you to acquire their property. Whether you are doing a wholesale flip or a buy, fix and sell. While sellers may not be willing to make a thirty year amortizing loan like a mortgage company would, they may be willing to provide a two to three year loan with small payments or interest only for that term. That would give the investor plenty of time to resell or rehab and resell. Some good selling points would be that the property owner gets immediate income, if they were going to invest the sale proceeds, a short term deposit from local banks pays less than two percent interest. Offer them six percent and emphasize you tripled their interest income.
The advantage for the buyer/investor is a minimal amount of paperwork. There is no absolute requirement for credit scores or down payment, no pre-payment penalties, no documentation or appraisal fees and quick closes. Not every seller will be willing to work with owner financing, it is an alternative that can be mutually beneficial.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125