- Kathy Kennebrook Before we ever go see a house we have spoken to the seller, they have sent us photos and we have made an offer that the seller has pretty much accepted subject to our inspection. When we get responses to our direct mail campaigns they are mostly prescreened for us so we don't even deal with the non motivated sellers.
- Jason Buzi I was just kidding. So who pre-screens them for you? Your personal assistant or a call center or the seller themselves with the questionnaire?
Mark Mynhier I keep telling people that you have to not be afraid of the "No". As a guy, I have been told "No" more times than I can count...in this business getting used to the "No" (whether it is me saying that "No, this isn't a good deal" or "No, I won't sell it at that price") and learning how to overcome it is an asset.
Matt Yates Haha I might be the devil of real estate investing. I put 100% of the deals I find AND like under contract AT asking price BUT then I usually make people mad when I come back with an ugly rehab estimate, and downplay their property...HOWEVER, 68.987% of the time I get the # I am looking for. To each their own right?
Tony Alvarez Matt Yates- That is known as a "Terrorist Offer"- All of us trip over that tactic when new to the business, until we understand the damage we are doing to ourselves long-term. It works well primarily with individuals you never have to deal with again- like absentee owners or owner sellers you deal with directly, or even RE Agents who are desperate or new, or even ones you are dealing with for the first time- However, it will not stand the test of time within a small Target Market where everyone gets to know who you are, or where you are relying on building long-term business relationships to leverage your business /time.- I would not really use the term "Devil" to describe what a person is that chooses to use this tactic long-term, I think inexperienced or maybe just unwise might be more accurate. Best.- Jason Buzi Tony, Matt - I have never had the balls to try it myself, other than once or twice when I really had to. And then it didn't work. But I know investors as or more successful than myself who do this regularly. They buy mostly direct from owners, and it's rare to deal with the same person twice. I have been thinking I should use it more, but I prefer to honor my word when possible. However, sometimes you really do need a price reduction to make a deal work.
Tony Escobedo yea man that's awesome, same here I don't go see any hm's unless they are motivated & the #'s work, awesome- Matt Yates Tony Alvarez I am far from new. Been in institutional and private finance for 10 years. Run one of the largest Transactional Funding companies in the country. (NOT bragging), just stating I am far from new. The WAY we do it, and present our reduced off...See More
Tuesday, November 25, 2014
Nov 25
By the time I go see a house, like I just did, there's probably a 10% to 20% chance I will "buy" it (get it under contract). I've already done my homework to filter out the unmotivated dreamers and BSers and to make sure it's a good fit. I look at 100 leads a month, but less than 10 houses, and "buy" 1 1/2.
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