Working with RE Agents on L/O and Subject To - Posted by Ted.Nj

Real Estate Investing
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Posted by eric on May 09, 2000 at 10:56:14:

I have been thinking about doing this as well. What ad did you run? Did you state that you were looking to L/O, or did you just say “I buy houses”, etc?

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Working with RE Agents on L/O and Subject To - Posted by Ted.Nj

Posted by Ted.Nj on May 08, 2000 at 07:29:24:

Hello all, I’m a relatively new investor. I own 3 rental properties which were bought through traditional means(10% down, new mtg…etc…) I have been reading alot about L/O and subject to deals here and was wondering if there is an effective way to use RE agents for this end of the business?I’ve looked into ads in the newspaper, but due to my location(25 miles outside NYC) the only paper that seems reasonable is a Mjor paper which would cost close to $650 month. So I was thinking it may be better to use a RE agent. Any suggestions? Thanks
Sincerely,
Ted Kinkade

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Re: Working with RE Agents on L/O and Subject To I think… - Posted by Mel St Pete Fl

Posted by Mel St Pete Fl on May 08, 2000 at 22:00:56:

I think you should pay for the ad! I went three years saying it was too expensive, now I have ran about $1500 in classified ads in the last 30 days. Net results; about $75,000 in LO “deal equity”. I should realize it within two years. Now I didnt “run the numbers” but thats got to be almost as good as tech. stocks. Especially since I didnt put anything down on any of them!

Work with the agents too, why not do both?

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Re: Working with RE Agents on L/O and Subject To - Posted by sissy

Posted by sissy on May 08, 2000 at 20:32:54:

I just attended a l/o seminar where the speaker said that you could make a living using re agents as your sole source! The following tips were suggested:

  1. Find a good LISTING agent (YOU will find the buyers)
  2. They may have to be educated on the concept of l/o’s. New, willing, hungry re agents seem to work best.
  3. Pay their 3% commission UP FRONT (that way, they don’t have to worry about getting paid).
  4. Ask them to send you the clients that say, “If this house doesn’t sell soon, I’m going to have to rent it out”. Those are the people you want to talk to!
    RE agents are the eyes & ears of this market! Use them & let them help you! You may also want to pay one to do research for you (comps, etc.)
    This is all second-hand info. I hope it helps!