Sellers(investors) who lie!!!I NEED ADVICE!! - Posted by RR

Posted by Paloma (NJ) on February 05, 2002 at 09:53:50:

Could you explain the criteria you use to evaluate a deal? I agree that it’s really key to be able to do that, but I’m not sure how. Thanks for your help.

Sellers(investors) who lie!!!I NEED ADVICE!! - Posted by RR

Posted by RR on February 03, 2002 at 21:28:26:

Last saturday I went so see a property just 10 minutes from my home, I had a conversation with the owner(investor pretending to be owner), He told be that he had a duplex that was appraised at 110k and he would take 85k, because it needed some repairs , and he told this story that he had to relocate and bla bla bla. He said he was willing to do Lease option sandwich type of deal, and he had a couple offers, We were supposed to meet at 3 pm, but since the place was so close to my home i went overthere at 10 am to take a look at the area and the duplex itself, When i got there i couldn’t believe , The land and whaetever was on top of it (aka duplex) didnt worth 15 k at most , I decided not to call him back.

I’ve been getting a lot calls from these clowns!!!

I am asking all the questions , but if they start to lie , I moght have to to something else!!!

Any ideas?

should I tell them to fax me the info?


Your much deserved advice. - Posted by Utah Investor

Posted by Utah Investor on February 04, 2002 at 08:47:59:

First the truth. All Sellers are liars, all the time. Just realize that up front. That is why you must do your own homework & not believe anything they say. OK?

The secret to this business is to figure out a system which provides good deals for you to look at continually. You must be able to evaluate each deal without looking at it, therefore not wasting your time to do drivebys. I can research any deal in 8-10 minutes without leaving my home. If it’s bad, I move on to the next deal.

Don’t get emotional or fall in love with any 1 deal. You must make intelligent business decision, not an emotional one. Make sense?

Good Investing.