All Forum Posts by: Account Closed

Thought this was suspicious as well.

Though I may be wrong.

Just started working with him a month ago. No contract though. Found him online, so really he has no real loyalty as in a 3rd party connection.

That's the thing, he is extremely efficient, and I thought we got along well and I could trust him.

But I guess actions speak louder than words.

I will 'interrogate' him tomorrow about the situation with rapid questions and if it's obvious he's lying I don't see the point in working further with someone I can't trust.

Have a property that I've been interested in.

My buyer's agent keeps telling me that he has been calling the listing agent, but they don't return his calls.

But I've been calling the listing agent's office and they answer every time and they say yeah, the property is still available and open for showings.

Today I called the listing agent's office and the person who answered the phone literally told me my agent was ********ting if that was what he was telling me, and I should tell him to quit jerking around and act professionally.

Is this a common ploy for buyer's agents? To tell investors that something is "not available" to steer them towards properties that have already been shown and get the investor to buy more quickly? Or am I being too suspicious? Should I confront my agent about this and dump him if I find out he's being less-than-honest?

@Ryan O. Thx for the tip!!

Those are awesome, too.

I have US Bank Business, which charges a 3% fee.

But for 0% APR for 18 months, I find that hard to beat.

Anyone have any thoughts on this?

My 2 favorites I know of:

-PayPal'ing the cash to myself (3% fee). Although they've given me a slap on the wrist for this.

-Amazon WebPay'ing the cash to myself (0% fee). But they have a $1K/month limit, that they supposedly consider raising after some time.

Any good peer-to-peer, bank transfer, payment service deals I'm missing?

Interesting observations.

Strategy-wise, it's good to ponder these predictions.

Just seems weird to me from personal observations that:

Some areas I drive have pretty much 100% occupancy.

Some areas I drive have pretty much half the houses boarded up, yet very few of these are actually on the MLS.

One realtor told me that while some more well-to-do areas have recovered, other poorer areas have not since those were where many of the "no-income check, take-all-you-want" mortgages were handed out 8 or so years ago.

I know the number of foreclosures varies widely by neighborhood, city, state, etc.

But this current time seems like an investors' dream, when many homes can still be bought for 20 cents on the dollar.

Anybody care to speculate about how much longer they think this abundance of foreclosures will last?

Or speculate about how many REO properties that banks, lenders, insurers, etc. are still withholding from the marketplace?

Thanks so much all for the interesting and varied responses.

Owner finance negotiating seems easy compared to...the time involved in finding owner finance properties.

Guess that's what I should weigh....

In a market like this where there are still lots o' bargain properties, would it be more effective to pay cash on small properties and get that cash back quickly, or make more of a time investment for owner financing to get that awesome leverage.

Thank you @Bill Ham

I see now that it's a matter of establishing a relationship with an agent first, and later pitching owner financing as a means to solve the seller's problems and giving the agent business

@Bill Ham thank you for the two responses, this is very inspiring.

My biggest issue has actually been being able to actually reach the sellers and sit down with them and hear out their concerns.

I've tried contacting agents, and they generally say something to the effect of 'My seller isn't interested in hearing your owner financing offer.'

But obviously the seller may be if the offer competitively suits their needs.

My thought of the most efficient way of doing this would be to go around the agent (at least initially) and research owner contact information for MLS-listed properties that I'm interested in, then to contact the owner and see if I could talk to them directly.

Would you consider this an efficient strategy for contacting potential owner-financers?

Or to resort to other tactics like posting signs, calling FSBOs, networking, physically looking for abandoned properties, etc.?

Just seems like this latter list of options would be much more time-consuming than actually calling property owners who have already posted their property for sale.