All Forum Posts by: Mike Gibson

Talk to him.  Ask him, 'What would you like to see happen to the property?'  If you get stumped, simply say, 'Let me check with my partner and get back with you on what we might be able to do.'

I'm not sure how you can separate 'politics' from 'business'...especially when these 2 clueless men (I use that term loosely) formulate laws and regulations that affect our real estate businesses, without having been in the 'real world' for decades, if at all. So, it's not politics...it's business. Our business.

To me, your web site doesn't come across as a sales pitch as opposed to being 'information overload'...especially, initially. IMHO, your initial purpose should be solely to have a personal conversation with the seller so they can tell you their 'situation' and you can ask them 'what they want to see happen to the property'. It's hard to show empathy on a web site. Get them on the phone and develop that personal contact.

Sekelle - I took a look at your website. Very well done, with a lot of information.

My advice would be that it appears you are trying to sell potential sellers on your service using your web site.

As we all know, you have to build a relationship. That is much easier accomplished by visiting with someone on the phone as opposed to a web site.

So, my advice would be to have a single web page with some very basic information on what you can do and how they can contact you. Once you have had a conversation with that motivated seller, you could direct them to other pages on your web site for further information. Doing that has worked very well for me.

As a side note, I send out postcards to potential motivated sellers that has both my web site and my phone number on it. I was initially shocked to discover that over 90% of the people called me as opposed to filling out a contact form on my web site. I guess that's what motivated seller do.

Eric - I go back to a post I made earlier in this thread. With so many creative ways to buy real estate, i.e., lease purchase, owner financing, sub2, etc., which don't require qualifying for a loan, I would concentrate on that. Plus, educating yourself in those property acquisition methods could go a long way in helping create a real estate investor business, if you'd like.

How about finding a house that you like and then leasing it with an option to buy. That serves several purposes: (1) It will a allow you time at your new job so if you decide to get a mortgage and exercise your option to buy, you will have 3+ years on the job and (2) during your lease period, you will have the opportunity to make sure that the market is going in the direction you want. At your young age, if I were you, I would want to keep my options (pardon the play on words) open and not tie myself down to a mortgage.

What's the latest analysis with regard to Dodd-Frank 2014 which comes into effect January 10th as far as how it relates to real estate investors doing options, lease purchases, seller financing, etc.?