Re: Questions to ask sellers? - Posted by Jim IL
Posted by Jim IL on February 13, 2001 at 13:55:39:
Could not have said it better myself.
That is exactly the point of saying the 65% rule.
I also like to use the word “Severe” when I talk about buying at a discount.
When sellers ask, “why so low?”, my response is that I use my own funds in addition to private investors, and in order to insure that these investors loan to me rather than someone else I need to give them a good return on their money.
I also tell the sellers that by going so low I can get the funding together FAST, as in a 10 day or less closing.
Have a great day,