Frequently Asked Questions
- How are the properties on this website different from those on other sites?
- How do I profit from the deals on this website?
- Can I buy the properties on this website even if I have bad credit or no money?
- Do I need a real estate license to buy and sell these properties?
- Why would an investor wholesale a property when they could fix it up and sell it themselves?
- Are the wholesalers truthful about the cost of repairs and the after-repaired value (ARV)?
The wholesale deals on this site come from other local investors. Typically, these properties cannot be found on other websites, the MLS, newspapers, or foreclosure lists. Seeing that these properties get less exposure, there is less competition for you. This allows you to buy them at a greater discount. In addition, a wholesale deal must have room for at least a $15,000 profit for it to be listed here.
The motivated seller leads on this site typically cannot be found on other websites, the MLS, newspapers, or foreclosure lists either. They are “under the radar,” so to speak. These are pre-foreclosure deals that you can fix and flip, fix and rent, short sale, or wholesale for large profits. These sellers need to sell fast and are typically willing to accept a low offer.
Investor-ready foreclosures are not your typical foreclosures. These properties weren’t purchased at a foreclosure auction, and are now bank-owned, similar to REOs.
Hyperion Bnb helps you avoid the auctions and competition by compiling a list of all these properties and filtering out the ones that do not have room for profit, so you only see the good deals that are for sale at a significant discount. That’s what makes them investor-ready.
Step 1: When you see a property that you like, call the seller to ask questions about the property and to schedule a time to view it. The seller’s phone number is listed next to each property.
Step 2: You negotiate directly with the seller and close to buy the property. You don’t have to go through us. We are not middlemen. Our job is to round up information on these bargain-priced properties and deliver them right to your computer screen.
Step 3: You fix and re-sell, fix and rent, wholesale, or short sale the property. You keep all of your profits. We do not get a percentage or other fee when you buy or sell.
You have several options:
- No Money Needed: If you primarily pursue motivated seller leads and your plan is to wholesale those properties, then you don’t need cash or financing. Information on how to do this is contained in the wealth-building course on wholesaling that comes with a Premium membership. This is how many investors get started in the business.
- Private Money: Borrow money from a private lender. Each private lender is different, but many do not require good credit or a down payment. Some even allow you to walk away from closing with cash and/or defer all interest payments until you sell the property. You’ll find a list of private lenders in our Resources section.
- Hard Money: Borrow money from a hard money lender. Premium members have access to our Hard Money Lender Guide. These lenders are less concerned about your credit or income. They’re much more interested in whether you’re buying at a discount. Hard money often has higher rates and fees than private money.
- Someone Else’s Cash: Bring a partner into the deal. They receive a portion of the profits for providing the funding. You receive a portion for doing the legwork.
- Take Over Payments: Take over the existing mortgage “Subject To” the existing financing. This technique is much more likely to be effective for motivated seller leads as opposed to wholesale deals.
If you’re buying and reselling or leasing properties for yourself or your company, you do not need a license. You only need a license when you’re representing a buyer or seller in a transaction, which is what real estate agents do, not investors.
Investors who post discounted properties for sale on this website want to focus on what they do best: finding properties at huge discounts.
They save time and energy by selling to you AS IS quickly and easily and then moving on to the next deal. Some wholesalers have gotten so good at wholesaling that they prefer it over rehabbing (fixing and reselling). Many investors rehab some properties and wholesale others.
This listing of bargain-priced properties is not perfect, mainly because some wholesalers aren’t truthful about repair costs and ARVs. Wholesalers naturally want to make their properties seem appealing. Some of them do this by underestimating the cost of repairs and by overestimating the ARV.
You should do your own due diligence by pulling your own comps and doing your own estimate of repairs as opposed to accepting the seller’s numbers. The best strategy is to ignore their repair and ARV estimates and make offers based on your numbers. Many wholesalers will accept an offer price up to $10,000 below their asking price. So be sure to make an offer!