What to do with these leads

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@Harry D Johnson, please be aware that landlords/investors will be looking for BETTER value from you than they can find any day of the week on the MLS. If you want to wholesale, your buyers will want you to show them value that they can't easily find themselves. That usually means: offering them property at a significant, provable REAL discount. Having properties under Contract at "close to market value" won't accomplish that, will it?Sometimes you should just say goodbye to (so-called) leads...

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No problem, I just wanted to show you that you don't have to look at it from one perspective. Again, any deal can be a good deal if you look at it the right way.Years ago, I was introduced to a person that had spent over 25k in guru boot camps. He had followed all the instructions and had built himself a sellers list over an inch thick and a buyers (not wholesaler but end buyer) list over an inch thick, but wasn't able to put it all together and hadn't done a single deal.After talking to him, I agreed to work with him. We would use his list, and any deals that we closed we would split the profits.Once we got together, I took the top 18 deals off his sellers list and bought every one of them.We used different scenarios for each one, from cash to lease option, to first-second financing, to subject to, etc... We did not pick and choose and bought all 18 in that first 30 days.We then took his buyers list and sold all 18 in the same 30 days. My reason for not picking and choosing with him was to show him that, as mentioned, any deal can be a good deal if you look at it the right way.And yes, we made money on each deal. (Not all were home runs, but all were at least base hits)As far as your sellers are concerned, they all want to cash out, but why? Use the greatest negotiating tools you have in your possession to find out, your ears!!If you listen long enough, they will tell you their problems and even how to solve them. Find out what they want and determine if it's cheaper for you to give them the money for that thing or that thing itself. Hope this helps.

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I will be the contrarian here. I have built my business on the motto that there are as many ways to make money in real estate as there is real estate. Also, that any deal can be a good deal if you look at it the right way. Also that you should have at least 10 different offers you could make on any given house... But I digress.In the situation where there is not much equity and they are selling it for close to top dollar, if you are looking to make something happen then you must strive for the best terms and the least out of pocket for entry.A full retail house with no payments for the first 2 years then reasonable payments at principal only could be just as lucrative as a 35% discount.If they don't need any of the money now how about using the money and buying them a zero coupon bond at the principal amount of the money they're asking? At 10-20 years out you should be able to buy them at a significant discount.Are they looking to do with the money? buy another place? Another vehicle? By negotiating those options there is profit to be made. Again, if you can get into the property cheap, like 5k down, could you market the home to a family that has good income and a good down payment, (say like 20k) that would be willing to owner finance from you at a higher interest where you could wrap the mtg, make a profit on the down payment and a monthly hit from difference between your payment and theirs. And again, if they don't bring up interest, neither do I. So years down the road when your buyer is ready to pay you off, you will have a pretty wide spread between what you owe and what you are owed.Bottom line, there are a multitude of ways to make a dud into a deal.Hope this helps

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So much gold in these two posts - I can hardly copy and paste it all!Thank you, David! You are in the running for my Most Creativest Contributor™ award.Srsly, you are a great poster, and I hope you never get carpal tunnel. Keep it up!

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@Harry D JohnsonYou are either trained or un trained in creative financingSearch "creative financing brian gibbons" here on BPPm me if you have questionsGood luck!

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@David Dey Zero coupon bond Love it had not thought of that in 30 years.. we used that to sell out a townhouse development in N. CA that was having problemsMy thought on that though is the sellers may or may not know what one is.. and or won't believe it. because they are not finance centric. @Harry D Johnson depends on were these are at.. Maybe Baton Rouge would be worth the risk.. as you have a good chance at some upward movement in value and a very strong rental market.. but generally speaking non equity deals in a flat market or one with little to no history of appreciation is not a good move.. and can lead to a default situation rather rapidly is your not very well cash up to handle tenant default while your paying the sellers mortgage.

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thanks David Dey All three are older and looking to cash out right now. one even told me that they may not have much longer to live. I really would like to help them. Maybe I would have to challenge myself to come up with a way to help them

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But before I go Mr Seller - let me ask you this. If I were to get you your price, would you be able to take it in installments over a short period of time? How short? Not long. 60 months or so. I would at least try @Harry D Johnson. Up to you!

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Thanks guys for the information looking at it that away it would be really hard to get rent at 1% So I guess this would be one of those times I would have to thank them and walk away do to the numbers.

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Thats the right attitude