All Forum Posts by: Account Closed

Curtis,

We must have been posting at the same time. Thanks for your reply. Many of these folks have helped me build relationships with investor friendly realtors and brokers that have brought me leads. I agree with you and Bryan and these folks have helped me build those quality relationships.

Have a great day!
Kyle

Ty,

I certainly agree......I'll be steering clear of this one for sure.

Kyle

Hello Bryan,

When it was originally presented to me, I would've been direct to the seller. I was just trying to figure out what was going on with the guy holding the property and if anyone else had ran into this scenario.

As far as the Bird Dogs go, about 1 in 20-25 seem to be productive to me. Some have certainly used my time with no real results, but those that have a real desire and put a real effort into it, have been really good to me. They've helped me make some great connections that I would have otherwise missed out on. I hope to see some of the fruits of our relationships in the near future.

Kyle

Ty,

Thanks for the reply. I've never heard of type of situation yet and didn't figure it was common.

As far as negotiating deals, not sure about California laws, but in Ohio and other markets that I'm working in, you do not have to be a liscensed real estate agent to negotiate deals. I could attempt it myself if I were comfortable with it, but I'll leave that up to the professionals.

Thanks and have a great day!

Kyle

I had a Bird Dog call me last week about a property in his area that fit my criteria. I told him to go ahead and have the homeowner give me a call, that I'd be interested in pursuing the property. He calls me back a couple days later and tells me the property is already tied up, but that the individual wanted to talk to me about buying it. So I'm assuming a wholesaler is wanting to move it for a little cash and asked him to verify before I make any calls.

He calls me back the next day and tells me that the individual is a negotiator. He has the property tied up with no intentions to purchase, just to negotiate the deal. And it gets better, he wants $2995.00 to negotiate (no biggy) and 6% of the final sales price! :eyes: He is not a realtor, this is simply his fee for the negotiations and for tying up the property.

I had to pass on it, just wondering if anyone else out there has encountered this?

Thanks,
Kyle

Dan and Scott both have some great suggestions and advice. I don't know or understand the California market, but I do know that a counter offer over asking price would have sent me down the road. There's way too many available to continue to allow someone to keep raising the price on you.

Just my oppinion.
Kyle

Edwin,

I'm no expert on the subject but would certainly agree with Eric. I don't know of anyone that is wholesaling short sales, that certainly doesn't mean it's not happening though. The property would have to be a real dump for the lender to consider taking a huge discount.

In my primary market, houses priced from 225k to 350k are the fastest movers. They are generally newer, nice homes in great neighborhoods, move in ready for a family.

10% margin on a 100k home is 10k. The same 10% on a 300k home is 30k. So try and figure out what retail buyers are looking for and try to target homes in that range.

It does take time and patience......and then some more patience. Deals do and will fall through, that's just part of the game.

Good Luck,
Kyle

Congratulations Maryann! It's always great to see a plan finally come together.

Kyle

Hello everyone,

I'm sure this has been asked before, but I searched the forums and couldn't find an answer. Does anyone in the community know of anyone that will negotiate B of A short sales successfully? I know most folks don't like to fool with them but here lately about 40-50% of the leads I come across seem to be with them. I have a broker that has brought me 2 deals and has 6 other agents interested in getting on board with me. I hate to pass these up with so many out there and the opportunity to prove myself.

Can anyone help please?

Thanks,
Kyle

Jonathan,

I would save your money. Any and every question you have can be answered right here. Ask your questions with detail and use the search feature for specific topics. Network with folks that are focusing on your niche and you'll gain more knowledge than any book can give you.

Best of Luck!

Kyle