OfflineI had some bad experiences with Realtors B4 screwing up some of my deals. They often had some good fixer properties but they wanted outrageous prices for them.
This year 2014 has been incredible for me, I have sold all my wholesale deals to Realtors. Most of the time they dont even try to negotiate a lower price. But I still cudnt buy thru them, the 20 page contract and the earnest deposit and all the crap, plus the prices wer still too high.
Well, I got a call from a realtor a few days ago, he said he had a 4/1 1400 SF 2 story house in a small town called Corcoran an hr away. this house sits on over a 1/4 acre and the outside looks really decent.
The asking price was $59,900, heck the ARV is 130K
Why hasnt anybody else seen this?
The inside of the house is trashed, I wasnt going to pay full asking price even if it was a deal. It's on the MLS.
I sent my bird dog over to take some photos and asses the condition and soon I decided I cud pay 48,000
I called the Realtor and told him because of the condition, the area and because Im a cash buyer and can close quickly I'm at 45K
Well, I was quite surprised when he calls back, I was expecting a counter offer, and then he tells me the sellers accepted my offer.
I sent it out to my buyers at 57K and already have it sold. Of course the buyer is a Realtor. What kind of crazy world is this.
If this happens again I'm gonna start recruiting some more Realtors. I'm gonna start looking at REO's also.
Making $12,000, without meeting the Realtor, without meeting the sellers, without seeing the house and being the middle man between Realtors.
Somebody wake me up.
Rando
what a way to end the year !!!!!!!!!!!!!!
congratulations
you are inspiring, makes me want to & I will redouble my efforts I should be making more$, I am going to recruit more agents, I called 7 of them today actually & will call more. thx
Tony
Go faster do more! GFDM!
Thats the way to keep at it and the success comes, sincerely, Jim
jbischoff
Nice job on this deal. Whats better than making an easy $12K without meeting of seeing anyone. Was this deal in the area you live in or was this a remote wholesale deal?
Reynold Orozco
Way to go! While we do our best to properly represent our sellers and get them the best result possible, it doesn't always result in the highest dollar possible. Getting the deal DONE and in the past is sometimes enough for a seller. Great example of why it can pay to have real estate agents & REALTOR's in your rolladex.
Rj Reynolds, Investor & Realtor(R)
Great way to get an awesome deal done!
This deal went quickly, in 3 weeks. My Realtor buyer flipped it to a pair of local rehabbers. Now if I can get some of my other deals to close, there are 8 or 9 currently in Escrow. some have liens there are working out. Some the Title girl says they will soon close.
Some exciting times. I have an assistant to help me with the phone calls and get me more organized. I'm going to start using a skip tracer to locate owners of these vacant houses. I'm putting out a ton of bandit signs and getting calls. I got 2 girls cranking out the yellow letters to absentee owners. I have my website and domain name almost ready to publish. And, I'm going to start some radio advertising. It will cost about $1500 for 60 30 second ads on 4 different stations for 3 months. I also have a half dozen bird dogs sending me potential deals every week.
Let's make some MONEY.....
Rando