Dealing with million dollar homes???

I would imagine the high end real estate market would work the same as the homes in the $150-$200k range. You may want to look at days on the market and see if there are any vacant high end homes where the sellers already relocated. If the seller has moved and the home is vacant they may be more motivated. Also, don't rule out any other motivated sellers of high end homes such as probate proeprties, etc. Good luck with real estate investing. Believe and Achieve! - Joe

Funny you ask this , I just landed a buyer that wants 6 family and above in a high priced area. so were talking anywhere from 600k to 1 million +.
the only thing is i am think of just bird dogging for him because locking them up may take too long. I have to think this out as which way to go. In that price range i am not sure what kind of fee i should charge. like you i didnt expect to land a fish that big. money doesnt seem to matter to him just as long as its a good deal. I am going to call him back and schedule a meeting so we can go over things. i already found a few properties that are listed and look profitable.

The investors I'm working with tell me if it's listed don't even bother, they've already saw it. I'm thinking yeah, they saw it, but I bet they didn't put an offer on it, especially the way Matt and Dean teach. I'm thinking I can still use the 25-1 tactic and find properties listed, yet still get them at 60% FMV. Any ideas or thoughts on that? Have your investors said anything similar?

No he just wants the deals brought to him. He cant see them all, I don't understand what your guy is saying, If you bring him a great deal what does it matter where you got it from?? makes no sense. If I was in his shoes and you brought me a deal 50% below fmv i would jump on it. I wouldnt care if you got off the side of a blimp!

good job! keep it up! good luck!

Yuri

Yeah I'm with you. I figure I'm going to lock them up anyways. I'll offer it to him. If it's a good deal it's a good deal regardless of where it's from. I can always find another buyer too.

Wow, I seem to be having the opposite problem. We have deals in my area but I can't find investors with the money to do them. I'm dealing with the multi-million dollar vacation rental houses that are oceanfront in NC. Right now I'm working one that I'm trying to move that is $830,000 under value. But it's still over 2.5 million for it. But LandCzar you are right, half of the ones that I have looked at, they tell me that they haven't had a single offer on them yet. And they have been on market for a month or two. So even if your guy is saying that he doesn't want any that are listed, I bet on most of them you can make an offer and get some good deals. And if the numbers work, then I don't see why your guy wouldn't take it. I think one of the problem is that most investors see that high price tag and don't even both with those ones and that is why these people don't get any offers on them. And they are just like most of the other sellers out there, they will list it at what they hope to get but if a buyer comes by then they will be willing to make a deal just so they can get out of the house. But I wish you the best of luck and hope you find something, it might be a little bit more work but if you can do it you can make some good cash of the million dollar ones.

I would agree with Joe... It really doesn't matter how big the deal is, it's the profitability that is most important. You might find a million dollar property and lock it up for $925k, but at the same time the possibility exists to find a $150k property and lock it up for $40k, so it's all relative.

I think it would just be more difficult to find the backing to lock up a bigger deal. Now it sounds like Ben has some deep pockets investors, so hey, go for it! Do whatever you can to lock it down!!

By the way Ben, the Web 2.0 info is great and I too definately have it book marked! It's amazing how most of this info really is a lot of common sense tactics. I guess we tend to over analyze things too much rather than just sticking to the short but sweet tactics. Whatever the case, I love the info and totally appreciate you "paying it forward". It all comes around, goes around so I believe you will be handsomely rewarded!!

Take care and have a great weekned everyone!

"Seal the Deal!"

According to my understanding in today's market that residentals homes will not sell over #350K, only commercial will. Has the price range changed to buy homes over $350K because I only been looking at properties under that price. Give me the update on that.....Thanks a $Million!!!

P.S. What listings were you refferring to, is it the agent listings?

Everyone Can Make A Difference!
John A.

I'm a newbie, and not sure how to handle the situation that I'm in. I have found a buyer who is interested in $418k homes and up. They have asked for me to find preforclosures or short sales in that price range. There are so many sites on the net that want you to pay $100+ to get the info, and I'm not sure what the best way to handle this is. I really don't have hundreds of dollars to spend on sites that turn up nothing. Any suggestions?

Also, all of the homes listed as preforeclosures are up for auction dates. Do all preforclosures go to auction right away? Do I want to deal with the owner of the home prior to auction? Thanks.

This is interestng. I agree with all the posts above.
Just wanted to share this. My mom and I were watching "House Hunters" in the hotel on our trip last week, and the 3 houses this guy was looking at were $1.7million, $1.9million and $2.9million. The guy had told his son (the RE agent) the last one was WAY over his budget, but at the end of the show he ended up getting that one, FULLY furnished, for $1.5million! My jaw dropped, and I thought "This agent must be a DGer"! LOL. Anyway, the owner/builder had been sitting on it for over a year, and they must have come to him at JUST the right time, as a motivated seller. SO, I would say the high end work just like the rest. Find the motivated seller.

Perfectly said Rina!

i just wanted to say thx for all of you all imput because i want to try some of those myself,yyall say it don't matter BIG or small we'll take them all thx u guys

I agree with Rina Big or Small All work the same Just find the motivated Seller and a Cash Buyer. Make it Happen. I Know personally it works.
Success to All.
Veronica