Success from EDGE 2010 lessons

BTW, are you referring to taking back a note and then selling it? If you can, would mind telling how you did it? BTW, it was great to meet you at the EDGE and I enjoyed your presentation. Your insight into the agents was great!

Thanks,
Rick Kelly-Crapse

Your presentation really cleared the air on a lot of questions about using RE agents in our hunt for more deals.

I thought my partner had energy, man your 60 min talk was in overdrive. Great, Great presentation, thanks Bill.....Jan

Thanks for the great presentation on Sunday. You can't leave us hanging though, tell us what you did.

That is so awesome! By the way your presentation was so incredible. I admire your energy

I have been working Short Sales now for about 8 months and plan on using some of your strategies to resurrect some of them.

Awesome job!!!!

Bill you were awsome!!! You are a walking vault of REI knowledge. I had cut out my agent because he was lazy, but I can see now that it is a really good thing to have one on my team again.

thanks
Richie

I had a property listed for 325K which was free and clear of loans and the seller wanted 325K and would take no less. I had a buyer willing to give 300K and not a penny more. The seller said he could get 315K from another buyer and not pay commissions so he pulled the listing on Thursday before EDGE. As I listened to Tambridge speak about discounting a note when it is paid off early, I thought, I had not even mentioned that to the buyer as a way to pay the 325K now and then when he pays it off, he can ask (or demand) a discount - when he pays it off in 2 years, which was his intent.

I contacted the buyer and said if he paid the 325K and the seller carried the note (the mortgage) he could drag out the payments for years and years. If he goes to the seller after 2 or 3 years and offers to pay the property off at 75 cents on the dollar (a common discount for a private note is 25% off which gets the note holder 75 cents on the dollar) the note would be discounted by 75K and he would in a sense get the property for 250K. If the seller (holder of the note) even only discounted the note 10%, he would be getting the property at less than the 300K he offered. Add to this that the seller is 88 years old and not in good health - 2 or 3 years down the road seller might need some cash and could even discount the note 40% just to get the cash. This all made sense to the buyer and he agreed to the 325K and I am meeting him this AM at 9 (1 hour from now) to have the contract signed and pick up the deposit check. A deal saved. I was aware it was most common to discount notes at payoff, but I did not think about using that circumstance to save this deal until I was sitting in a lesson about notes (which was great in my opinion).

Good luck folks - I really enjoyed sharing with you all.

How awesome is that to hear of a deal done on Monday after the EDGE!?

No other comment I can say other than Amazing!

Jake Greer

Bill, Can you clone yourself and come to Rhode Island? Or maybe you have some magic dust I can sprinkle on my Realtor?

Your presentation was awesome, I only had one problem, I could not write fast enough to keep up with you. But you did give out your e-mail address and I sent you the question I missed, and you answered back within an hour! Awesome!

That is a great example of thinking a little bit different. I missed that idea of using it as a negotiating technique for buying properties.

This goes back to what they were saying at the event. We will all see it differently. The EDGE is still paying off.

That is awesome! Your presentation was amazing and it is great you were able to save this deal!

Jeremy

What can I say that hasn't been said alreay. You were outstanding. I didn't get a chance to speak with you personally but I agree with Chris; you should be cloned across the good ole USA. That's great that you were able to think a little different.
Blessings,
Cathy L

Glad to see you online and it was great to meet you at the EDGE!

Rick Kelly-Crapse

......Congratulations on your recent real estate deal. I am glad that you waited no time to take action! Dean's EDGE event really inspires people to new heights. I am so thrilled about the recent event and also reading the future success of the DG Members that will be driven by this EDGE event! The power of the EDGE event will continue to build and thrive many in 2010! Believe and Achieve! - Joe

Congratulations on the deal, Bill!!! Sa-weeeeet!

Got the emails from your assistant today. Can't wait to start combing through them.

Thanks again for sharing your wisdom with us this past weekend. I gleaned alot from it even @ 600 wpm. ! You're Awesome.

Patty Johnson

And thank you so much for sharing with us at the EDGE! Wish I could bottle your energy like everyone! How great to read of a deal done one day after...thats the way to take what you learn and put it in action! Again, it was great hearing you speak - thank you!

I do not want to seem over the top, but I was in a bit of a slump as the inventory diminished in the spring, but in addition to the deal I wrote about above, I have posted 2 additional sales since EDGE - it is Wednesday night and I have 1.1 million in escrow I did not have Monday morning. Now I have to close them, but I did 48 deals last year and I want 50 this year....

Well done Bill, stay hot my friend. If you are lacking inventory and have any free time I would love to partner with you on some stuff in AZ. Give me some criteria of what you look for in a partner and/or a deal in AZ. I have the hustle and the imagination!!

Your deal is awesome!! Congrats!

Thanks for sharing all the details...it really helps to see examples like this illustrate Talmadge's great presentation. Brilliant!

So enjoyed you speaking at the Edge...and I thought I talked fast! Lots to digest still and I've been reviewing all of it.

Thrilled to have had the opportunity to see you present! You blew me away!

Thanks again!
Louisa

I used Bill's technique on " Hostile Takeover" and I am signing the paperwork on my first takeover property this weekend. Thanks for walking me through it Bill!

Once I sign the paperwork I will have 280k in net worth that I did not have before the Edge!

On my way to my million!!!

Thanks Bill!

That is so awsome CAROL!!!!Good luck, I cant wait to hear its a done deal

Richie

Can someone PLEASE!!!! explain that concept to me???

Elix, Bill just posted it on his post from the EDGE. If you dont find let me know and I can explain it to you.

Richie.

and I get it but then again I don't

Give me a basic explanation and once I have the basics I can take everything else from there

else and I laid it out

thanks

Just like everybody else I enjoyed your presentation on Sunday and that good conversation at lunch. I'm close by so hopefully we can meet for lunch one of this days.
Daniel

Great minds do think a like. Also, this post proves two things

1. None of us know it all
2. We are stronger in numbers

To both Bill and Carol - you two continue to amaze me. So many of us have the knowledge but just need to tweak it a bit to fit our current situation. Keep it up!

And even though Bill talked fast, as a born and raised Rhode Islander, I can listen at that speed too since that is generally how quickly we can talk most of the time. I captured most of what he was speaking about, so if anyone missed some notes, I will be more than happy to see if I caught it on paper.

Onward to my first deal! Thanks to all of your for sharing your experiences at the EDGE and through this site. It is appreciated so much!

Kristin

This is great that you gave us this information!
Thank you Bill

this is too good