papers first? - Posted by sv

Posted by sv on February 21, 2001 at 17:20:53:

Who said I didn’t think you were funny? You were hilarious! However, the gist of my last post was that I wasn’t smart enough to understand the point behind your joke! Now, who needs to lighten up?

papers first? - Posted by sv

Posted by sv on February 21, 2001 at 15:42:02:

Can I ask a listing agent to show me the financials on a property before I bother to go look at it?

Re: papers first? - Posted by phil fernandez

Posted by phil fernandez on February 21, 2001 at 17:12:30:

sv,

You sure can. In fact, especially if you are talking about an income producing property, by looking at the numbers beforehand can save you alot of time.

Now realtors by nature like to show property. I would gentley tell the realtor you don’t look at income producing properties until you see the financials.

I would disregard Sammy’s post. Must be a young kid.

Re: papers first? - Posted by Sammy

Posted by Sammy on February 21, 2001 at 15:47:28:

SV.

You would have a better chance of getting to see Jesus Christ ride a unicycle down Niagra Falls without a safety net, before you would ever get that suggestion honored!!!

Sammy

Re: papers first? - Posted by JoeKaiser

Posted by JoeKaiser on February 21, 2001 at 18:08:40:

Listing agents traditionally provide you a thumbnail’s look at financials as their first step in bringing an income property to your attention. Not sure what Sammy is thinking, but he’s completely off base as far as I can tell.

As a general business practice, listing agents prepare a “package” with just such info and will gladly fax it to anyone who inquires.

So, a phone call gets you what you’re looking for . . . if this is the way you want to approach it (wouldn’t be my way though).

Joe

Re: papers first? - Posted by sv

Posted by sv on February 21, 2001 at 16:10:39:

Sammy, you wouldn’t be being sarcastic would you? Really, how do I avoid wasting my time on properties whose financials don’t make sense without screening them somehow? Anyone else with a suggestion on this? Oh, and btw, sarcasm is too sophisticated for me at this stage. Keep it simple,…

JOE!!! - Posted by Sammy

Posted by Sammy on February 21, 2001 at 19:47:43:

You know Realtors® that will tell you how much the owner owes on his 1st , 2nd mortgages!

Well you got some smooth moves boy! There aint no Realtor® round here that’s going to disclose that to anyone!

I’d like to know your tricks on getting that info from Realtors®

Sammy

Re: papers first? - Posted by sv

Posted by sv on February 21, 2001 at 19:08:22:

OK, I’ll bite! What would you do? I’ve been “haunting” this site for about 6 weeks now, and continue to be amazed at the generosity of those extremely successful in the business still taking the time to help out beginners. I’m honoured by your response to my post, JoeKaiser!

Lighten Up! there sv! - Posted by Sammy

Posted by Sammy on February 21, 2001 at 16:48:55:

If you ever lose your sense of humor you’re finished!

Sammy

wrong and wrong… - Posted by ken in sc

Posted by ken in sc on February 22, 2001 at 07:44:12:

I don’t know about where you live, but it is easy to get at least basic financials before looking at a property. Also, FYI, the local MLS has info on payoffs for 1st and 2nd mortgages in the listings! That is not always filled in, but many times it is. It must be your attitude that keeps you from getting that info. Realtors want to give info to possible buyers (they work on commissions, don’t you know) so be nice and act like a buyer.

One of the risks of a board like this… - Posted by Ron (MD)

Posted by Ron (MD) on February 21, 2001 at 21:22:20:

is anybody can offer an answer to any question.

You can frequently see contributors anxious to participate answering questions that they know very little about.

Which brings me to your posts. Your first post was condescending and flip, offering no real anwer to the fellow asking the question.

Your response to Joe shows that you are in the category I described…anxious to answer questions he knows little about.

The original poster wanted to see financial information about a rental property prior to inspecting the house. You somehow interpreted that to mean the seller’s financing information, which has no relevance to the buyer’s question or Joe Kaiser’s answer. What they were talking about (which seemed both obvious and reasonable to everyone but you) was the P&L info related to the rental. You know, things like revenues and expenses.

I suppose your intent was to demonstrate that you are much smarter than the person posting the original question, but I’m not sure you accomplished that.

Ron Guy

There’s always a way . . . - Posted by JoeKaiser

Posted by JoeKaiser on February 21, 2001 at 23:38:26:

When agents bring a property to my attention, I have no problem paying them their due.

Still, whenever we ourselves run into a listed property that interests us, we send a standard form letter that basically says, “call us when your listing expires.” More often than not, they do.

Joe