Posted by Doug Pretorius on September 07, 2003 at 16:40:25:
Ads for L/Os placed by realtors or sellers? LOL! Those aren’t deals for investors. Those are like the ads YOU would be placing for T/Bs.
As an investor, you need to get L/Os with nothing down, below market rent, and current prices (at most). Trust me. My first deal was an L/O with a tired landlord at 20% below market rent and 20% below market value. I guarantee you aren’t going to find a deal like that by calling L/O ads.
L/O offers on newly listed properties or wait ? - Posted by NJInvestor
Posted by NJInvestor on September 07, 2003 at 10:03:09:
When serching MLS or local homes sales magazines. Should you call the RE Agent and place you L/O offer, or wait 1-3 months and hope the seller/agent is more motivated. (But possibly miss out on immediate acceptance of L/O offer)
Re: L/O offers on newly listed properties? - Posted by Doug Pretorius
Posted by Doug Pretorius on September 07, 2003 at 12:45:12:
Unless houses are moving very slowly in your market, it’s unlikely any listed sellers will accept an L/O offer, regardless of when you make it.
You might have better success approaching expired listings, as well as FSBOs before they list (“pre-listings” if you will). The thing about pre-listings is that they’re feeling a little dejected since they couldn’t sell privately, and they’ve made (or are about to make) the decision to lose 5%+ of their equity. If you can come in with a solution that keeps that 5% in their pocket, they might go for it.
Re: L/O offers on newly listed properties? - Posted by NJInvestor
Posted by NJInvestor on September 07, 2003 at 12:52:48:
I would have to respectfully disagree with your first statement as I have seen ads placed locally stating L/O. But thanks for your response.