OfflineI need help. I really am jammed right now. I have a buyer that wants to buy property in Newark, NJ (right by me) and a real estate developer that brought me to a property that fits his criteria. I contacted him about it and this was his reply:
Sorry was in Philly all day today please call me with address I'll
check it out is it Summer in Newark someone else called me with that
one!
Thanks
Now this is a different property from the one he's talking about, but where do I go from here. I don't want him to see the property. Should I tell him I have it under contract already. I'm totally stuck. I have pictures, but that would still let him know where it is. I would rather do an assignment than go for a finder's fee. Thanks in advance everyone!!
I'm getting a bunch of people inquiring on the property through email. Once I let them know it's still available, do I give them my buyer's line to call or my cell phone or should we keep communicating through email. Everything's happening pretty fast, but I know the Lord is in control and I know I'll get some great advice from my DG Family!! Thanks.
I'm not the most experienced here (since I've only bought one property), but I wouldn't consider buying a property unless I've seen it. I mean, if he wants the address he wants to run the numbers and/or wants to see it.
I haven't done an assignment yet, but it seems like you should get it under contract and give yourself some time to market it....but if you're already getting people inquiring then you have a market, right? Get it under contract and also make phone calls. Some communication through email can be OK, but when you're getting serious you need a phone call. It's much more personal.
That's my 2-cents.
Did you already lock/signed a contract for that particular property? If not, then you're not yet stuck to that property. If so, how long you want to hold it until you can assign it to your buyer? How soon can he close? Is he a cash buyer? Blessings to all. LA
Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-
1st know your investors price range!!! In order for you to get paid you have to have them under contract, other wise they will buy them from the realtor... You have to get them under your name...
without proof of funds!(POF) A seasoned investor won't have a problem showing you proof of funds. There are a lot of really good threads on here that cover that topic (I have found recently doing some research on the same questions myself!) And ESPECIALLY if its not under contract. He'll go right around you and take it out from under you!
I'm brand spanking new at this, but this is the first thing I've learned. If you've already qualified him as a buyer, don't give him the address unless/until you already have it under contract.
Best to you!
Three words
Trust. Your. Instincts.
Three more words
Proof. Of. Funds.
I think you need to hold a firm stance to this. He may bolt but truthfully 'investors' are a dime a dozen and if you have no ties to the property, why should he waste his time paying you???
Hi all, My name is Joyce and I live in Iowa. A lot of the posts that I see on here are from people in other areas of the country except the midwest. I have been studying real estate strategies for about 35 years, off and on. One of the problems I had was trying to find funds to put on properties I was interested in. I live in a depressed area and people I talk to either don't have money themselves to help out or they don't understand or trust what it is I am doing. Sometimes I am pretty lost because I don't have money to fall back on and it seems that is all people in my area understands. If there is no money up front then they are not interested. It is few and far between that I see someone that is willing to cut someone a break.
I am happy that I have found this website because I have gotten a lot of information from it. My next step is to get Dean's newest book. I am hoping to try some techniques in Illinois which is right across the Mississippi river from where I live. If someone has any suggestions as to how to get around some of my problems, let me know.
Thanks, JoyceC
I'm a little stuck with this website. I like all the information that I am getting but I suppose I am a little impatient. I have only been on this website about 11 days and am expecting answers right away. I hear a lot about going on Craiglist but my husband says it is very confusing, I haven't been there yet. Right now I am trying to get a buyer's list and hope to find some foreclosures, tax deals and other low cost real estate. Does anyone know a good source for finding investors without spending money for a list? I hope to find a lot of investors online. Hope to hear soon from anyone that can help.
There are a bunch of real estate related sites where you could possibly find investors
Some i've used with great success are;
Linkedin.com
Greenpearl.com
Linkedin is more nationwide and its members are part of the broad spectrum of real estate professionals
Agents
Brokers
Investors
Attorneys
Developers
Title ompanies
I would suggest you go onto the 'Questions' sites first instead of trying to 'friend' people; let people get used to you and start convo's as you can be blocked out when alot of people reject you.
Greenpearl is a mostly NYC area RE site but has links to other areas in the country and you can always open a thread about your states RE actions
I'm on both sites. I'll friend you on Linkedin just let me know you're from DG
Craigslist is ok at best and at times you actually may find someone but keep in mind most 'investors' on there are in the same boat you are. I would look for owners who don't want to deal w brokers. There are a ton of those on there.
Hope it helps