Newbie Questions - Posted by Ray G

Real Estate Investing
#1

Posted by Craig on May 27, 2000 at 20:17:14:

Ray that’s just one of those things that happens to us all. The trick is talking to the motivated ones. The ones that aren’t motivated are the ones that are worried about you making a profit.

If you’re relying solely going through the newspaper to find leads then you won’t find many motivated sellers. Well you will but you have to track the ads and start looking for signs of motivation. Such as lowering price or offering on Contract or Lease/Option.

I don’t even go to see a property or the seller until I know what he is willing to do and he knows that I’m in it to make my profit.

#2

Newbie Questions - Posted by Ray G

Posted by Ray G on May 27, 2000 at 19:35:25:

When I go to see a property the sellers seem to always want to know what I will be doing with the property, especially if I ask them to carry paper. I can understand that to a point due to the fact that technically they still have some kind of interest in the property. I seem to always tell them about me trying to sell or lease optioning it out etc. Then, in many cases, I never get any returned calls from them, no returned emails no nothing!! Should I not be spilling my guts to these people? Does it sound like I am talking to the wrong sellers (non-motivated) or what?.

Another issue: “Pre-Foreclosures”

Where do you get the money from to make up back payments when you are starting out with $0.00 ?

Ray

#3

Pre-Qualify before getting into that car… - Posted by Steve(NC)

Posted by Steve(NC) on May 28, 2000 at 10:12:18:

The way I do my REI is that I pre-qualify before I even get into my car. I am straight forward from the beginning that I am an investor and WILL NOT be living there. They appreciate the honesty…most investors are NOT like this…
If after asking them some questions I determine that it is a possible deal…I tell them I would like to see the property in a few days and I will call back to make the “appointment”. When I call back …the next day or a few days later… I “pre-qualify” them even more. If the are motivated…I make the appointment… and usually take my contract with me for them to sign. If they are not motivated… I give them my number…and FOLLOW-UP!!! (See I just saved gas…and time…and energy). It works for me!
I could have “looked” at 10+ condos/homes this past week…but instead…with this system…only looked at one (YEP…signed a contract too).

Hope this helps.

Steve (NC)

#4

Re: Newbie Questions - Posted by PBoone

Posted by PBoone on May 27, 2000 at 20:17:57:

Practice your approach with that particular question so it comes out comfortable as if you have done this 1 million times. You will get a different reaction.
The second questions is “flip” to another investor or retail it out
Pat