All Forum Posts by: Jason Boice

@Andrew Postell thanks for the response. The POF requests I have been getting require the letter/statement to be less than 30 days old. Perhaps The answer is I just have to get it from them monthly. I know I am not the first person to run into this, so seeking to find out what other people have done. Thanks.

I currently have two private lenders that I work with. I make all cash offers and then obtain the funds from my private lenders to complete the deal. Recently I have been getting Proof of Funds requests from listing agents when making offers. Both of my private lenders lend because they don't want to be involved in the day to day, other than providing the money and collecting their interest payments. However, I find I am constantly asking them for POF info. Anyone deal with this before? Has anyone come up with a way to satisfy the POF requirement without having to constantly go back to your private lenders for bank statements or if they want to remain anonymous, sending it to an attorney who then drafts a POF letter?

@Daniel Hyman thanks for the info. Looks like I’m going with quickbooks.

@John Thedford does quickbooks connect directly to your bank account electronically? I too am looking for the best software to use for my flipping and rental investment business. Would love to find a software that connects to my bank account and tracks transactions, that way I just have to sort which account they go into. Thanks.

I am new to this too and only have had two appointments thus far. But based on what I have read, I would recommend finding out the following information:

1) Why she is selling the property and what she hopes to accomplish by selling. This will allow you to tailor your offer to help her meet her needs.

2) If she still has a mortgage on the property and how much she still owes if she does.

3) If she has any existing liens on the property. If she does, you will have to bring those liens current to complete the sale.

4) Walk the property and get a good idea of what the rehab costs would be. 

Let us know how the meeting goes. My first two appointment so far crashed and burned. The first one needed $85k in renovations, so I could only offer $20k cash. The guy was offended and that was that.

The second one I decided to take a gentler approach and asked the guy what his goals were in selling the property. He responded by saying that his goals should have no impact on the value. 

I am still trying to figure out how to have successful meetings and find out what people want so I can make an offer that attempts to meet their needs. From what I have heard on BP podcasts, making your offer based on what they are trying to accomplish will improve your success. However, I cannot confirm this as I have not completed it myself.

@Steven Clark good question. @Scott Hollister do you have a mailing list about your meetings. If so Could you add me to it. Thanks.

@Craig Bellot where do you set up alerts? On Zillow or with your agent?

@Mat O'Grady thank you very much.

@Scott Hollister do you ever make offers on property not listed on the MLS? If so what contract do you use to make the offer?

@Mat O'Grady If I’m going through a realtor they make the offer using their contract. If I make a private offer on an unlisted property, what type of contract do you use?