Hello all,
I am writting this just trying to see if Im on the right track, I really feel like im getting closer to getting that first done and over with, and i really want to just keep going with more and more deals. I can feel it, I never been this close, or where I am now in closing a deal. I have a realtor sending me properties every day, I have made about 35 offers have gotten alittle response from a few but not low enough to take the deal or even to pass it on to someone else. I have 4 cash buyers ready to buy, I also found a hard-money leander for myself that will fund me the money to close a deal, or to buy house and payback in 6 months or more charging 14% interest. I never had that before.... that gets me excited and thats what I mean by I know im getting closer to closing a deal.... I also found the bank that will refinance me right after I buy home, no seasoning and will give me 50-75 of what home apraises at. Thats amazing all i have to do i find a good property low enough to pay leander back at 14% and me still make money after refi, pull money out and go buy another property. My option is that I need to do a few assignments or double closes real quick so i can make some money real fast, then concentrate on the refinance path after i actually have funds in my bank act.
My realtor that I found is calling the listing agent and making offers that way instead of submitting offers. This is the only realtor I found so far that will make as many offers as I want and not scared of how low im asking or how many offers i want to put in. Alot of realtors I found back off after I get them to send me listings of an area I want them to run search in, and give them my criteria....as is, price reduc., and vacant.
I sort through all the listings find the ones that need work and in the discribtion look for modivated sellers any keywords like TLC ect. I give them a list of all the homes i feel have a good chance of being excepted low and my offer i want to offer at. They will email me back or call me and start saying all the excuses of that will take too much time to submitt that many offers, becuase its a lot of paper work and they dont wanna submitt that many offers at one time.
So this realtor i found calls and goes after them talking with the listing agent over phone and making offers, she gets back to me with what the properties counter offer or what they. There has been one where they wanted us to do a writtin offer but they still wanted to much so we said no. This is where im stuck or i feel like im just waiting and i dont like this feeling.
Right now the properties we have gotten response back from are not to low to take or to pass on, the other properties she is following up on everyday but not getting a response. Eaither the offer is too low or we are not submitting offers. With verbal offers what im thinking is that listing agent is just by passing our offers and not actualy submitting them to seller. I could be wrong but i dont know....
So this is where i need help or a push in the right direction. Im still looking through more and more properties every day and telling my realtor more properties to offer on. I found my realtor oct 8, been making offers ever since but none accepted yet. Do I tell my realtor to submitt offers in writting with pof or just continue making more offers the way we are doing it now untill we find a property that accepts our offer, or do i just find another realtor. Which i have already, i had him run the search same criteria, went trough them and gave him a list of 6 homes i wanted to offer on, he wanted me to come to his office with pof to sign all of the offers. I can do that just driving to his office and i really dont have gas money, i cant even put out my signs any more becuase i dont have any gas. Im smilling right now as im writting this bc its true and i can beleive i am telling you this.
I know it sounds stupid and i might be loosing a deal by me not putting 20$ of gas in my car but that where im at, 20$ i dont have.
So do I go to new realtor and submitt offers that way, or should i keep the realtor i have and tell her to do the written offers, or keep going with the verbal offers.
I have to close a deal this month Nov. I know alot of you are probrubly saying why dont i join the success accadamy and i know that would be eaiser but i just dont have any funds for that. I am not trying to give a sob story bc i am not that type of person but i feel like i can do it and its right at the tip of my finger, i have gotten a step closer every day taking action making calls, talking with realtors, having meetings with cash buyers, making offers, i put about 7 signs out gotten calls back, but now its like im running out of money, i cant put out signs bc no gas.
I am not comming this far to stop real estate and get back into my work life just like i always have and keep living paycheck to paycheck. Im tired of that.... and refuse to go back to that way, i already feel like that part of me is over and real estate is my path. Please someone just tell me where to take my next step, what i should do or the direction i need to go asap i have to close and make money as soon as possible this month.
Thank you so much for listening and reading sorry so long but i feel alot better getting this off my chest.
Justin Gil
Hi Justin,
I'm sorry I can't offer much more than moral support, but I feel you are the right track. Although, this is coming from someone who is in a similar boat and has to close a deal within the next 30 days also.
I am no longer at my job, and I have limited resources. But, I have a great REA, some cash buyers (one great one in particular), and access to other private lenders. I haven't found a bank that will do a no season refi yet, but I'm still looking.
One thing I would suggest about submitting offers: I gave my REA permission to use the signature page of my offer contract, so all I have to do is change the date, the address, and the offer amount, and it makes submitting the offers a very easy process.
I'm still looking to have my first offer accepted as well, but I know it's going to happen. Keep pushing forward. I will be doing the same, and I'm looking forward to hearing your success story.
See you at the top,
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
Here is a FREE property analyzer I've found:
https://tvallc.infusionsoft.com/go/RehabLite/sroberts/
It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!
you should follow Matt Larson's strategy; it's in DG's book; it's basically the 25:1 ratio; if you are submitting 25 offers, 1 should get accepted if you are making a good offer; i.e. you have done your due diligence and your 'low' offer is valid. The offers should be submitted in writing, not verbal. Get your agent to draft a template where only the address, price, and date would need to be changed with each offer.
Also, you may want to fill out the info on your profile so that other DG members know a little about yourself and where you are, so they can network with you.
Wishing you success,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...