Where are those asset managers!

[JOHN KRAJEWSKI]

Yeah, I saw the full page ad in the newspaper. I have almost given up hope of getting back into real estate. I made money, done all type of deals that you read about in the books; but I was reeling from five investment property foreclosures. Even the last rental exit strategy finally bellied up on us (My family was working with me). Here it said in large print. Buy foreclosures 65% under market value with no credit and none or your own money! Whoa, 65% yeah right. My credit is shot to he%$. I read on with extreme amount of skepticism. Joe “shmoo” says “I am a seasoned investor and these guys show me the way to make the dough right away. After reading three or four more testimonials I began to scratch my chin..hmm. See all the foreclosures I was looking at had no margins. The guys getting most of all the deals I saw were groups of investors who pooled their money. They hire a guy to go to the auctions and with cash, barter for the house. Even they would walk away with small margin. I felt pretty much out of the game. With a credit score of 560 who is going to give me a look. Well I bought the seminar and whole enchilada. If anything the program has reinvigorated me to get back into the game. Ah, I see the seasoned vets out there starting to smile. One part of the hook was the 65%. This they showed through various slides, how they tied up the properties and flipped them for nice tidy profit (mid to high 5 figures). Sold them within 30 to sixty days and did this without using their cash! The way they got the bargains was by going to the asset managers. Have any of you heard of this before? If you have what is your take on this. Some say it’s about as easy as finding a needle in haystack! I would like to hear what our fellow investors say about this. I know few agents I talked to said they can’t even get close to asset managers. I would assume because the banks want them to be their retailers, which most of the foreclosures out there are. My intention is I am going to do this. I need to flip for cash flow right now. I will learn how to find the bargains .What works for you? Get the money and sell that deal now. No holding.. Right now I am focusing on how to access the asset managers. I have my daughter working on it also and a friend working on looking up properties. I told my team once we put the hard work into the three essentials 1) finding the good deal 2) getting the money at best terms 3) Finding the people and process to sell quickly. Then we have a system that can generate a bountiful income for all of us.