Need Advice on Purchase Offers / Realtors - Posted by AJ

Real Estate Investing
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Posted by Doug (ON) on August 21, 2001 at 19:25:45:

Forget about properties, focus on the sellers. If you make offers ‘on houses’ you will completely destroy your enthusiasm long before you ‘get lucky.’

What you need to do is find sellers who NEED to sell. If the seller is listing the property, chances are they only WANT to sell, it’s not a NEED (yet.)

What are your buying and selling strategies? You say you’re offering 75-80% of FMV, are you planning on getting mortgages for these houses? Using private funds? Taking them subject to?
How are you going to sell? Cash? CFD? L/O?

Read through this site about how to find motivated sellers, and start following the advice! Get yourself a good course to teach you a particular technique, and follow the advice!

What you’re doing now has very little chance of success, but if you contact the owners of expired listings, then you’ll be heading in the right direction.

Doug

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Need Advice on Purchase Offers / Realtors - Posted by AJ

Posted by AJ on August 21, 2001 at 18:19:48:

I’m new to the game and have started making offers on properties in the Boston area, all single families. It is still a seller’s market in this area, so I’ve been targeting houses that have been on the market for a while or some fixer-uppers.

All my offers are around 75% - 80% of fair market value. All offers have been through realtors and have been rejected. Should I stay away from listed properties and concentrate on FSBO’s? I was thinking that is a realtor had a seller willing to take 75% of FMV, the realtor or a designee could possibly step in and beat my offer anyway.

Should I stick with this strategy and hope to get lucky or should I change my tact? Any advice is appreciated. Thanks