Re: Getting Ready for the Big Ride - Posted by Jim IL
Posted by Jim IL on April 19, 1999 at 18:36:29:
While finding a house that is “priced” below market value can be good, there is a definite reason to forget that mentality all together.
Most properties are listed at what the seller “hopes” to get from it.
If a home listed below value is still for sale after a time, WHY? is it not sold?
Go for the homes that fit the profile Legrand gives you, the “UGLY” houses.
Then, make offers according to the criteria he gives you. (< M.A.O. Use his formula’s, he teaches them because they work!)
If you are embarrassed to present your offers, GOOD!, if you are not, they are too high!
Just make your repair estimates and and analysis as accurate as possible, but do it QUICK!
You cannot steal in slow motion, as they say.
I talked to a guy last week on the phone that bouhgt a home for $35k, and was listed for $80k.(I’m still upset I passed this one up, i could have “flipped” it to him!)
I’m sure the seller “wished” they could get the $80k, but they also wanted it sold NOW!, So, he got it for the lower price. He will now rehab it and make some good money, all because he “offered” the lower price.
Follow the course material. It works!
Do not be dicouraged with REJECTED offers, or counters that are too high. Just remeber to follow up.
Eventually you’ll find that seller willing to take your first offer, and others with followup will be accepted as well.
and you know what?
Even then, you’ll have doubts and concerns.
You will think, “DARN! I offered Too much!”.
and then you get paid!(sort of takes the sting out of the “too high offer concern”)
Good luck, and go make offers!
NO offer will get accepted UNTIL IT IS PRESENTED!