While you are wasting your time with this guy another deal could pass right under your nose.One of the biggest parts of REI no matter what discipline you specialize in is being able to detect the tire kickers from the people who can help you grow your business.

That is great if you sell tires.

If you are buying the property from another investor (older, tired landlords are often good candidates), then there may be a significant capital gain coming to the Vendor which can be more motivation for a vendor carry.In the commercial world, a vendor carry as a second mortgage of a portion of the sales price (typically 10 - 25%) in combination with conventional financing is not uncommon for a vendor trying to sell into a tough market or divest of a property at a specific price.The key in recruiting your Vendor into a Vendor Carry is to solve a problem for them and put their interests first.

Indy was touting new condos down town .. that great his point was there is over 5800 vacant homes in the same area.. rehab those first was his thought.. these are the areas that these rules work in and were spawned out of . the same homes I was buying in Fort Meyers for 25 to 35k in 09  sold in 2005 as new construction for 200k.. they never met the 1% rule then or the 30% rule or another rule.. the rules came into play through a once in a lifetime melt down. and its here to stay in the C and D class areas that take a special investor to workSo for most folks its old news and not germane to todays market frankly.. old and tired ready to be put to bed

NO WAY" It looks so hard, and they are tired, and honestly quite often miserable.

Realtors hear that so much, it's nothing personal it's just that over 50% of the people who say something like that are generally just tire kickers looking for perfect deals.

There are a lot of investors that are tired of the city of Harrisburg and are stuck because they are underwater.Any C class property in city of Harrisburg 3% rule should be your minimum to even look at the deal.  

You're correct, getting late and tired and misread.

They develop a relationship with the property owner, they know the numbers, and they can often buy under preferential terms when an owner gets tired. 

I would put a table of contents summary sheet on top of all of this and hand it to him.I'm guessing he will immediately take you seriously and know that you are not just a tire kicker.