Realtor bringing 2 investors together, get on the same page
The 1 that got away........
I get a call from REA late in the afternoon asking about POF for a deal for an investor he’s writing a contract for. REO Multi family units in demanding established area for 50% FMV. The buyer has 50% cash of asking. I say no problem, I can get 100% POF asking price, double close to investor at my cost plus $10K. Not a bad deal for 16% cash on cash return monthly.
End buyer does not want to pay both cost and $10K mark-up. Suggest partnering both of us on purchase contract, quit-claim after close for $10K, this is where the communication got lost. I was structuring the deal THRU my REA as the old adage goes “Something got lost in the translation” Both REA and end buyer decided to offer 50% financing with 50% cash. I have to spend some time with my REA to get our negotiating scripted....
The 1 that got away........
I get a call from REA late in the afternoon asking about POF for a deal for an investor he’s writing a contract for. REO Multi family units in demanding established area for 50% FMV. The buyer has 50% cash of asking. I say no problem, I can get 100% POF asking price, double close to investor at my cost plus $10K. Not a bad deal for 16% cash on cash return monthly.
End buyer does not want to pay both cost and $10K mark-up. Suggest partnering both of us on purchase contract, quit-claim after close for $10K, this is where the communication got lost. I was structuring the deal THRU my REA as the old adage goes “Something got lost in the translation” Both REA and end buyer decided to offer 50% financing with 50% cash. I have to spend some time with my REA to get our negotiating scripted....