I'm On My Last Leg Here (POF and Buyers Lists)

The buyers list strategy is taught at every webinar, course, book and boot camp these days. It has been around a while and every newbee that has not done a deal asks agents for this info. Sometimes they get it sometimes not. I think agents will work with you and supply any info you request once you prove you can produce and actually close deals.
You need a buyers list no doubt, but at the same time you should be looking at properties, learning how to determine REAL ARVs, what rehab/remodel costs are and make offers. The number one rule in REI is No offers, no money made.
The company I use for POF, Transactional funding and a killer website is the best by far. Therefore it is not free. I have NEVER had the POF turned down although it has been questioned and approved by several major lenders. BOA and Wells Fargo to name a couple. My guy knows who you are and what the property address is and the offer amount when the lender or agent calls to verify your funds (up to $600,000) Not some generic POF. If you are planning on wholesaling/flipping REOs you need TF anyway. The banks are getting wise to the selling of LLCs to avoid the non assign ability of REOs and short sales. They are starting to make you buy in your or your company name and then put the property in your LLC. Once again, a over used strategy.
Watch the presentation on my TF website below, the stuff is great! It may or may not be for you but I use the POF letters daily and have closed using the TF. This guy is the real deal just like Dean!

Good luck and start making offers and looking at properties,. You will be amazed at the people you meet when you get out of the virtual world and into the real world! Go to every REI club meeting you can find. You know the THEORY now get out and learn the business.

Michael Mangham
MD Home Acquisitions LLC

Here's the E-mail I received from one agent:

That is not a service that I provide.
It is beyond the scope of what I feel is relevant to identifying which homes you
should target.

You are one of several people that have contacted me this week about this.
Are you working together, or perhaps attend a class on this recently?

Cash deals occur most often in sales below $100,000 where the home is flipped
after renovating.
Homes on the market past 120 days with a price reduction are good candidates.

The data you are trying to collect is going to provide any more relevance than
what I have written/discussed with you already.

Best Regards, Ron

I'm also interested in what to do about this whole POF situation I am hearing about. Again, I have heard about coastal etc. and also hear Banks are catching on to this.

Jay

Thank you Michael,

Now I get it a little bit more. I'll just continue to build my buyers list with other methods and try to do a deal with one of the Agents I contacted. I guess the List from the Agent really isn't that important as you have other ways of doing it. Their time is valuable as well and I can kind of understand their position, which is what I e-mailed to him in response. I thanked him and told him I understood and that his time was valuable.

I will check out the website and the POF company you recommended. Which website do I use for (POF)?

Thank you very much for the quick response, I needed it bad today,

Jay

Did you get my PMs? You just got SOME info from one of the people I wrote about. Go through the websites of his and some others and be observant. You will gain knowledge. Beyond that I in away gave you some suggestions on buyers. Want more PM me or email me. This can be done via my website.

Are you asking them straight out for buyers, or for all cash sales in the last 6 months in that area?

I would think as long as you have a valid excuse why you need this info (to see what homes have sold for in cash, etc.), you're ok. But, I could be wrong.