All Forum Posts by: Lamont Mitchell

I found what I was searching for.

Is There A Title Company That Assign Contracts In Sacramento, CA?

Welcome to BP.

Wow!

I appreciate all those who've given their positive feedback without ridiculing and being abrasive in their response. It amazes me how some people think that putting someone else down is a way to help them learn. Bill Gulley said "I need to learn how to sharpen a pencil." How can professionals respond so unprofessionally? I assume all of us are past grade school and child like antics seems out of character for those claiming to be seasoned professionals. 

I posted this forum in hopes of learning from others. Not to offend anyone, but it seems some may have been offended by the question regardless of my intentions. Nevertheless, the inforamtion I've gathered from everyones post has been helpfult. Thank you. 

James thanks for your response. No, I don't have a LOI, but the realtor or agents we work with might have one.

Victor thanks for your response. I've read through all of the previous post and yours seems to be the most locgical. My partner and I have put certain properties on our watch list, and most of them sell for a lot less than list price.

Thanks Joe for your response. Yes I'm a legit cash buyer with a solid POF.

Derek, my patner and I sign an agreement with every realtor or agent for each property we submit an offer for. However, we do not sign an exclusive agreement because we want the freedom to work with multiple realtors and agents just as they want the freedom to work with multiple buyers. Yes, We are wholesalers and we have the funds to purchase.

Michael Biggs, thanks for the advise. I suppose your idea would work seeing that offering $20-$50 to submit multiple offers below market value maynot make a realtor or agent feel like it's a wast of time. However, this would be very expensive to do. 

I hope everyone reading this post has read the comments from those in CA. You can see a huge difference in the way realtors from my area perceive low ball offers compared with other realtors and agents from other parts of the country. I appreciate everyone for commenting on my post. I look forward for more feed back.

JD, thanks for your response. No my partner and I haven't worked any deals with this realtor.

Michael Biggs, thanks for your response. My partner and I would like to submit a 100 offers, but as you've mentioned no realtors or agents in this area are willing to do anything like that. We would like to subit 10 or more offers a month, but finding several realtors and agents that's willing to do this is like trying to find a needle in a hay stack. 

If anyone has any referrals in the Sacramento area, let me know.  

Hi Fred thanks for your response. The reason why I know realtors and agents my partner and I have worked with do not like submitting low ball offers is because we've heard them tell us that our offers are too low. Even when I've showed them several properties that have sold for the same price where offering. We've even had two realtors we've worked with speak with our mentor (who's been investing since 1975) believe that he's being unreasonable because he advises that we offer no more than 50-60% of the ARV and no more than $100 earnest money.

They will not say that they will not submit the offers for us because this would give a reason to report them to the association of realtors. However, they usually avoid communicating with us. For example, two weeks ago we submitted and offer of $88k for a property that was listed for $106k with a $250 EM. I estimated that the property needed about $30k to $50k in repairs, so in my opinion, our offer was too high. Nevertheless, about a week later the realtor said our offer didn't get accepted. 

Okay, no problem I thought...we'll just move on to the next property. I called the realtor and now he's been avoiding us by not responding to our email, text, or phone call just like the other realtors we've worked with in the past. This is about the 10th realtor we've worked with and typically when they decide to cut ties they don't tell us. They generally just stop communicating. 

It seems that most realtors/ agents I've worked with avoid submitting offers below market value even when the comps prove why I'm offering a certain amount. According to California law, aren't all realtors/ agents suppose to submit any and all offers on the behalf of their clients and isn't refusing to do so... breaking the law?