Spoke with a guy tonight and he wants me to find him homes that he can buy no more then 60% of market value after repairs, Is this the normal what investors are looking for? He is looking for homes he can buy then sell on lease options or land contracts to people with bad credit.

He gave me a price range and type of homes he was now looking for and the area he wants I'm not having any luck, How can I find what he is looking for?

Where are you looking for these properties?

If you're not careful, you'll get "played" by many of these people. Don't give them any specific information until you get a signed commission agreement. If they won't give you that much, you're wasting your time.

In my experience it is rare that an owner will "advertise" that they are willing to sell at 60% or less.

As an investor what I normally do is make offers on homes where the keywords might indicate some type of motivation (vacant, fixer-upper, MUST SELL, relocating, estate sale, etc.). I also look at DOM.

It's a strategy that takes LOTS of offers! I am not saying this is the way everyone should do this, it is simply what has worked for me in my experience.

Chris
http://www.REIforNewbies.com

Thanks for the input gang.

In my experience, most investor's want to purchase between 60% - 70% with 70 being the max amount.