Posted by dave manning on January 27, 1999 at 14:23:09:
Steve B
i am also from Ma so shore how are you finding
these motivated sellers E-Mail me i would like
to chat sometime
it can’t be done - Posted by marc
Posted by marc on January 16, 1999 at 13:22:31:
i would just like to put my two cents in on the subject of real estate investing. i live in eastern ma and for the past two years have literally made hundreds of offers on property. i have done zero deals and have had many headaches in the process. the problem is that you cannot do deals in area where it is a sellers market are prices are sky high. you may ask but what about this or that? i’m hear to tell you that anyone who tells you that you can do creative and no money down deals anywhere in the country is a con artist plain and simple. don’t beleive those lyers!
Re: it can’t be done - Posted by Tim Conde
Posted by Tim Conde on January 18, 1999 at 14:31:06:
Oh, Jeez. Now I’m a con artist. Well, I’ve been accused of worse.
I’d really like to know what you are making offers on. I’m in the SF Bay area and doing very well, thank you. True, I don’t go to the middle of the highest price district and expect people to accept my offers, but I get in my car and drive 30-60 minutes and I have my pick of places, and at my price.
I think if you learned how to analyze a property properly and only took the time to make offers on property you had a realistic chance of picking up you would do better. I made 50+ before I had one accepted and when I look back on it, it’s because I was making offers on the wrong properties. Once I figured out what properties I had a legit chance of getting for what I was willing to offer, my accepted percentage went WAAAAYYYY up, and fast.
Let me give you another tip that I learned awhile back. When someone declines your offer, it gives you a great opportunity to learn something. When my offer is declined, I ALWAYS ask “Why?” Maybe it is something that can be easily fixed in your offers. I also attempt to get around objections at the time of the offer. Lastly, you might be wise to learn about “selling” your offer to the prospect. One of the best books I read on real estate investing was a book on salesmanship.
Keep at it. It is worth it.
Tim
Re: it can’t be done - Posted by Rob FL
Posted by Rob FL on January 16, 1999 at 21:54:03:
200 offers and no buys. You must be doing something wrong. Here in Orlando we are in a huge sellers market. In the last 5 years the sales have literally increased by 50% in volume not to mention like 2000 new homes being built every year. Nevertheless, in this 5 year period I have gone from my owning one property (my home) to a decent portfolio of rental properties. The key is motivated sellers. Again, FIND MOTIVATED SELLERS. That is the key to it all, period.
Success Stories - Posted by J.P. Vaughan
Posted by J.P. Vaughan on January 16, 1999 at 20:03:25:
Go to the “Success Stories” page and read “Lenders are
Fighting to Give Me Money” by Jim Rayner of MA. I believe
he also just closed on 10 more units this past week.
JP Vaughan
Re: it can’t be done - Posted by Steve B (MA)
Posted by Steve B (MA) on January 16, 1999 at 14:37:41:
Marc,
I am a new real estate investor who lives in Central Massachusetts. There is no question that we are in a seller’s market and that it is more difficult to find good deals than if we were in a buyer’s market; but it is certainly not impossible.
I have begun to run ads and look at deals for the past week. So far I am 0 for 5. Why? Not because of it only being a seller’s market; primarily because I was dealing with unmotivated sellers.
It is true that some of the material that I have read may make it seem very easy to find potential deals; but if it was easy, their would be too many people getting involved in investing making the market too diluted with investors making the career unrewarding.
I am working with an individual who’s been investing for many years and I have seen first-hand that their are deals to be done.
The market is tough, but if you truly have made 200 offers with no responses, you are clearly doing something wrong.
To be successful in any new career, you need to educate yourself, seek help, work hard, and be positive. If you can’t learn to adapt and change in difficult times, your better off to get a regular salary paying job so that you won’t have to deal with the short-term frustrations. For myself, I know the long-term rewards will clearly offset the frustrations hundreds of times over.
Good luck to you.
Steve B (MA)