OfflineI was working on getting my buyer list together - sent an email out to all the landlords on my college's off campus website. Two of the replies I got back.
landlord 1: Interested in possible purchase but has 3 br rental for sale on XYZ street listing at 123.
Landlord 2: Interested in 3br rental on XYZ max at 125.
Emailed #1 back - (she did not give me a phone) asking if she was selling FSBO or MLS. Now how do I get the two together to my best advantage once I hear back? Get an assignable contract pending financing on #1 property and then offer to #2, or let #2 know that I have a lead on a property that might interest him and see if he is interested in a birddog fee?
This is first real possible and I could use some advice
__________________
Is listed on MLS. Do I call the agent or what???
I am new to the REI business also, But yes call the agent and get all the info possible that he/she can provide you about that property that you are interested in.
Never Give Up On Your Dreams
Called the agent and set up to meet her Monday to take a look at the property. I guess my next question is how to approach the agent with the prospect tat I may possible assign the contract. Don't know how agents feel about that. Also how do I get a lock without committing to buy if my buyer falls through?
Because you already have spoken with the seller, you may want to work out the deal directly with them. If they want you to go through the Agent, you will have no choice. Many times the seller has an agreement with the listing Agent that if they bring a buyer, the Agent will reduce his commission. See if this is the case. If the seller can save some money, they may make you a better deal. It would also be easier to work out the deal without the Agent as a middleman. Remember... that Agent is working for the seller, not for you.
Al
"NOW GO FIND A DEAL"
Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.
Frank Outlaw
Well you also have to remember even if a Real Estate agent is assigned to that listing it really doesn't matter if you assign it to another investor. Because either way that agent will still make their commission on that deal, Which would make the Agent,Seller, and Buyer happy. Also I am in the same boat with building up my buyers list; But it is really not that hard at all when you just type "we buy homes" in the search bar on Craigslist and it pulls up all the ad's for investors wanting to buy properties and what they're looking for to buy. I hope this helps and good luck with your First Deal because I am myself are in the process of my first deal also.
Jason
Never Give Up On Your Dreams