All Forum Posts by: Jeff Fairchild

What are the main methods you use to negotiate with the seller and what are the main objections that they usually have? How do you overcome those?

When do you want to to assign and when do you want to double close?

I've heard that double closings are difficult, is this true? Do certain title companies not like them?

What else is there to know?

What have you guys found is the most efficient way of making offers?

Is it better to set an appointment to meet with a seller and negotiate the price down and try to fill out the contract right then and there?

Is it better to just tell them you are going to send them a letter of intent and make a lowball offer that way?

Is it better to negotiate the price over the phone?

What is the exact method that you have refined and turns out works the best?

Since I'm assuming you're trying to sell us your system, go ahead and write up a contract stating that I will pay you the money for the course after I do my first deal, then I'll buy it. Otherwise, nah.

There are many ways to find profitable deals without a realtor.

Place "I buy houses" signs
Direct mail
Place Classified ad in newspaper
Craigslist
Call on ads in newspaper in for sale section
Drive around looking for vacant homes, find owner, ask if he wants to sell
Place flyers
Place business cards everywhere you go
Networking
Offer $500 for whoever gives you a lead where you buy the house
Ask a probate or divorce lawyer for leads
etc.

I've heard that it is really hard to find good contractors. What are some things that you guys have done to end up with one that you use over and over?

Recently I emailed the montelongos at their website asking them for advice on how they avoid paying a ton of taxes on their flips. Instead of answering my question quickly and getting on with their lives they added my email address to their newsletter list without permission and deleted my email.

Lets say you find a 4 bedroom house. Would it be better to find 4 different renters and treat it like a 4plex thus never leaving you with a month of $0 rent or is it better to have less hassles and just buy 3 bedroom houses and rent out the whole house?

So, I'm thinking that I am going to email like 20 real estate agents in my area and tell them what I am looking for and have them watch out for deals for me.

1. Is this a good idea?

2. Should I just say call me whenever you find a very motivated seller, or should I give the agents specific criteria like a certain % under market value?

3. Should I be the one negotiating the deals with the sellers or should I be letting the agent do that?

4. Should I only be working with real estate agents who have worked with investors a lot in the past? I'm guessing those agents would know which investor friendly clauses to add to the standard purchase contract.

5. What other advice do you have for me regarding this?

1. Would it be beneficial to apply for hard money loans at 3 different companies at the same time and just go with whoever approves you first?

2. Should I wait to even research hard money lenders until my first deal, or if not, what sort of research should I do to line up one ahead of time. Along the same lines, what can I do to avoid being denied on my first one and losing the deal?

3. Is it ok to shop online for a lender or should I stay with a local one?