Posted by Nick on April 10, 1999 at 19:32:33:
Hello Jim;
Hi, this is Nick, I live in the Chicago area just
like you. I was wondering, what aspect of real estate
are you involved in?
By the way, reading your posts and your experiences
are very uplifting and motivitaional to me. Thank
you for all of your help.
Case Studies of Actual Offers - Posted by breeves
Posted by breeves on April 10, 1999 at 18:47:31:
I don’t know about some of the newer investors on this site but I for one would really benefit from case studies of actual deals. There is plenty of info on this web site that covers about every angle in structuring offers, but a publication that listed examples for study would be great to keep the different techniques fresh in my mind. If anyone knows of something similar, let me know. It would be great to have property details, seller’s motivation level and needs and possible solutions. I feel like I need to develop a matrix of possible solutions depending on the situation to refer to when I’m talking with a seller. Well, I guess I just found a project for myself. Any thoughts.
Re: Case Studies of Actual Offers - Posted by mike
Posted by mike on April 10, 1999 at 21:22:23:
seems like the robert allen group had a book entitled …details of deals… or something like that. based in utah.
It’s not like that, so much . . . - Posted by Joe Kaiser
Posted by Joe Kaiser on April 10, 1999 at 21:19:31:
Techniques are great to have in your arsenal and it’s nice to know you can whip those out when you need to. However, for the most part, that’s really not how things go.
I’ve got a pretty good thread going on my site under the Pushing the Envelopes forum, and I’m pretty much doing what you’re looking to see, thinking out loud as I handle each call and develop them into something. Of the 1,000 postcards we mailed March 31, I’ve had a couple dozen callbacks which resulted in 3 offers to date . . . two of which have been accepted.
Those two accepted deals are pretty much just “low ball” type offers with numbers I could justify, and that’s not a difficult technique to master.
The one offer that has not been accepted IS one that is 100% pure technique.
What’s that tell you?
It really isn’t technique so much as it is getting your phone number into the hands of someone eager for a solution, and that solution is often not some tricky strategy or technique, but rather, just enough dough to get them to where they need to go.
Ninety percent is just showing up.
Joe
Re: Case Studies of Actual Offers - Posted by Jim IL
Posted by Jim IL on April 10, 1999 at 19:09:07:
Well, I don;t know what your experience is, so I’ll assume your new like me.
I have done a few deals, and worked many “sellers”.
When I started out, I too thought that a “matrix” would help. A bunch of sceanrios that I could apply to each deal would have made life easier.
Then I started to “do”.
Guess what?
Each deal and seller has thier own circumstance and motivation level.
So, a “set plan” would not have worked in any of them.
I have found that by studying the posts here, reading the books and courses offered, I am now better prepared to make my own offers, and taylor them to each situation.
What worked for one person in a given situation, may or may not work for me.
Just keep reading everything you can get your hands on, and be creative.
You may find that certain techiniques work best for you, but I’ll guaruntee that they will not work on all deals.
So, when making offers, gather information first from each seller, and see what they “need” (not want), and go from there. If you can provide a solution, you have a deal, and if not, move on.
There are plenty of deals out there.
We all find ourselves in a slump on occasion, and that can be dicouraging.
In fact, I’m kind of in one now. I was getting discouraged because it seemed as though we could not get any offers to fly.
Then, a friend of mine told me, “don’t worry Jim, you may not be making money THIS WEEK, but in one deal, you make more than I do in a month, RELAX!”
You now what?
He was right.
So, I’ll keep plugging away, and the deals will come. If for no other reason than the “law of averages”.
It is a numbers game, and the only way to win is to use that to our advantage. Make a lot of offers, and some WILL get accepted.
Good luck to you,
Jim