Has anyone tried the 25:1 method right out of boots on the ground and had any success? We have done that our first week out, well over 100 listings weeded down to 25 really good offers & all laughed at by the seller! Run the numbers just like we were taught.
In the market we're in, very fast, we would have to do this 25:1 every other day. We are full time at this, two people 16 hrs a day 7 days a week with two very aggressive realtors & 12 cash buyers.
Love to hear your feedback.
25:1 Strategy
September 25th, 2012 | posted by OSTEP
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25:1 Strategy
Currently using this sytem also, my area, Tucson Arizona is very competitive. I am submitting 3 offers per day for a total of 15 offers weekly with the 25/1 system, with a back up resubmit in 14 days. This way, it do not kill a lot of my time. Some of the offers, the banks, up their price a little, but not much, but this system do rattle their attention. I'm into this system with only one agent, I had 2 agents, but the other agent just gave up right away... he seems to be in the '''american greed''' way of doing buisness, he even stated to me '''it was a waste of his time, he can find better ways to use his time..... but that makes me even more determine to use this system.. my first offer starts at 75% & i bump it up to the max of no more than 80%.... if i get any responses, i will sure let your group know.... (75 -80% of the asking price) just for clearness.....
25:1 Strategy
I understand that the agents put in a lot of time for this strategy. Ours were up until midnight or 2am submitting the offers the first round and then were so disappointed with the response. But, they are ready to know how we want to keep going. We stuck to the 30-50% guideline taught in the book. Dean said to stick to that, so we wanted to see if it could work in our market. The problem with dropping down to 75-80% is that it leaves no room for our buyer to make a profit, even if we only make a small margin.