He Luvs Direct Mail

General Real Estate Investing
41

Oh man, I met Roberta out at the house today, nice pleasant drive in the country. I take photos, she’s a sweet ol lady, tells me her life story and the life stories of relatives that had occupied the place eons ago. She even pointed out where fruit tees used to be. But finally I got her to tell me another offer she had. I had told her I cud do 25K She didnt seem overjoyed. She says she had an offer of 31K We engage in a little bit More chit chat, I tell her, well, it does have this huge extra lot, I can match that offer.

She seemed agreeable, but hell, I was talking to the vice prez, the big guy the real owner is 80 yrs old and too sick to make the 30 minute trip. I felt slightly confident she wud have the big guy take my offer and get this baby put to bed. As soon as I got home I sent the price of 45K to one of my buyers who luvs that area. He called me 5 times and him and his buddies want this deal like its the last one on the planet. He was checking out a house in a nearyby town and he and his buds made a fast trip over there.

I txt Roberta that I can bring the purchase agreement over and a deposit.
Oh crap, Roberta says the big guy wants to get more offers. I txt my buyers and they are calling & crying.
I’m depressed, but trying to keep it going somehow.
After a shower and with new determination to save this deal from the depths of no profit, and with a dose of dire desperation I text her and say, Roberta, my wife says that house needs some love. We can do $40,000 Cash, we pay closing, Offer exires Sunday Midnight.
Seller told me that a realtor had met her there but hadnt got back to her yet.
Were all like animals circling our prey or, here to save the day, theres a fine line there.
Whatever happens, it’s fun, it’s like a rush and a high, now the wait, it’s torture, it’s exciting,

42

Got to love realtors. Promising the world and delivering less than 1% of it.

43

I had emailed seller my offer last week of 40K and gave her to midnight last night or the offer wud expire.
We’ll that didn’t work to well, Monday, this morning I had got busy with gardening and figured the deal was toast. About 10 AM my buyer JJ calls and wants to know if I heard anything? And then wants to know what can we do?

I tell him we can increase our offer some, but I want 5K, he says OK offer her 47 and let me know. I txted seller, my wife says we can do $42K Shud I email you the agreement?
I once thought she was a sweet ol lady and we cud wham bam this deal, but this ol gal wants blood.
She calls and tells me that she’s been talking to her son and the realtor told her she cud get 50K and she had the papers in front of her to sign and she’s supposed to send them in today to list it.

She then tells me if I can do 50K she will sell to me. I tell her, I gotta talk to the boss first. She thinks I’m getting permission from my wife.
I then txted JJ. Seller will do 50K today and I want 5K, some realtor is offering her some pie in the sky price.
JJ calls in a panic, I explained again about the price & realtor pie in sky yadayada, he tells me he will get back to me.
So I go back to my gardening, back yard is looking great with flowers and veggies everywhere.
I figured JJ cudnt do it and again thought the deal was toast cuz several hrs had passed by, and then he calls.
He wants to know how fast can we close?
Oh crap, now I’m wondering if I can squeeze the blood thirtsty sellers heart strings a little.

I txt her, Roberta, can you do 48K? Your killing us here.
She imediately txts back that that sounded OK if we pay closing. Crap, why didnt I go for 46?
I just sent the purchase agreement to her email.
NOw I gotta make JJ feel like he didnt get screwed cuz I’m getting 7K instead of 5.
I’ll email him the assignment to sign and include a short explanation of how I had to use some extraordinary negotiation skills including mind power to get this extra 2K out of her, but, your price of 55K stays the same.
Is it possible to have more fun than this?
Even these small deals are exciting and fun and keeps these wheels greased.
Let’s make some Frikin Money…
Rando

44

What’s that saying? Don’t count your chickens. After going thru all that crap and getting the seller to agree to 48K and getting buyer to agree to buy it for 55K and sending the contract by email for seller to sign.
The ol gal tells me her printer isn’t working and she will buy a new one.

Next day she txts me to say she got a printer and got the contract printed but her husband the title holder just entered the hospital but she will have him read and sign it when he’s feeling better, the guy is 80 yrs old and he’s in the hospital, now I’m getting worried.

Then the next day she txts me that she appreciates my offer and she’s going o give it serious consideration and she will get with her family and keep me informed.

I want to strangle this old crow. I txted her back and said, Roberta, what happened? I thought we had an agreement and we were buying your house?

Now, this is not fun.

45

Alex, I’ll take ‘Failed Escrows’ for the win.

“What sellers do every chance they get.”

“What is ‘Lying like a dog?’”

46

A week has went by, I figured this seller signed up with the realtor and this deal was long gone.
But, yesterday I txted the old gal… Roberta, my wife and I luv this house and will restore it back into a beautiful home, Please sell it to us.
I was surprised when she txted back and asked if we cud shorten the escrow to 20 days and pay a $5,000 non-refundable deposit.
I txted back that yes we can do that, then she txts back that sounded good and she will talk it over with her realtor and get back to me as they are looking for the best possible price.
The problem is, the title holder is 80 yrs old, sick and cud expire any minute, which will leave a probate nightmare for this greedy ol crow and her vulture relatives.
I’m wondering if this realtor has a financial stake in the property, or is just giving out free advice?

47

I was feeling a bit desperate after a few days of not hearing back from Roberta, I txted her again and reminded her that she told me if I can do 50K she will sign right now. So I tell her, let’s do this, and no reply.
My last deal was a few months ago and I’m starting to get worried, especially now when the bank account gets below 5K, and it’s well below that now.
It’s insane how things can change fast. I just got a call from a seller named Pete, he tells me his house has been thru probate, the renter had gutted the interior of this 1,000 SF 2/1 this Imbriot took out all interior walls and even the frikin kitchen, he added some columns or pillars and was turning this house into his private little church.
Then he skips out owing for rent. Pete’s brother that owned it previously had a heart attack and can’t remember the renters name and he is on his last leg.
I look up the value of the house and it’s around 100K Pete won’t give me a price so I spit out 20K He tells me if he can walk away with 18K he wud be happy.
I got the purchase contract whipped up quickly and emailed it to him.
I’m not sure how much I can sell this for but I’m thinking of 38K
This property is 80 miles down the road in another one of those dusty hot farming towns.
It’s funny how I was sitting around worried about lack of cash and a little phone call from a post card to an absentee owner can turn things around. Let’s make some Money… Rando

48

It looks like I got a good deal here cookin. My wholesaling buddies Alan and Bob both want this deal at 38K All of us think this shud sell for 42-45K
I dont mind letting them add a fee on top of my 38K If they can find a buyer, but, they all know the same buyers I know.
One of my buyers is JJ, and he purchased a deal from Bob a few months ago. I txtd JJ and he seems interested. Bob says JJ still hasn’t closed on his deal, and he took a month to get financing on our last deal and stopped txting and wudnt answer email or phone.
So if JJ wants it and am I’m willing to endure months of the run around, or find a more motivated buyer w better cash resources.
This seller tells me he will sign my purchase agreement today at 4 PM when he gets home from work. I txted him this morning at 8:30 that I wanted the signed agreement today and I’m ready to start escrow and get this going.
This is the time to get anxious, nervous, & worried, or not. I’m feeling optimistic, I think it’s going to happen.

49

Seller said he wud sign the purchase contract yesterday at 4 after work, this morning I get a txt that he decided to sell it to his nephew. I’m going insane here. I increased the offer to 25K and told him he has till 5 PM today and offer expires. :banghead

50

The seller Roberta that has the 2/1 fixer out in this god forsaken 104 degrees dusty cow town seems to be in no hurry to sell, and indecisive as all get out, but I continue to send her txts, last one said, Did you sell that house yet, she replied, “no not yet”, and she will get back to me later. That was 3 days ago.

I do have a couple of other sellers that seem to be distressed. New home 2 yrs old, They paid 216K and now its worth 240-260K, They agreed to take 10K over wats owed. Not much equity here, if I cant find a buyer for a good assignment fee and refinancing. I’ll then go for the, just sign it over to me method and I’ll bring in a new buyer that has 20K down and take over existing loan, sellers gotta be very motivated for this to fly.
My gut feeling is they are distressed, husband wants to relocate to Texas for another job, they got kids. I’m writing up the contract now, they want 90 days to vacate. My contract states, Sellers to keep mortgage payments current and a $100 penalty to be assessed for each day they occupy house past the 90 days.

My gut feeling tells me they are having financial difficulties, if so they probably think they can stay in the house for the 90 days, making no payments and they still get the 10 grand - in advance. Wudnt that be ideal?
I will mail off the purchase contract detailing all the specifics tomorrow morning and then, let the fun begin.

51

I often wish I was less ethical, I wud do more deals. This seller Rebecca finally txts me that she’s sorry to have taken so long to get back to me and now she wants me to contact her daughter who is helping her with the sale. The daughter is more difficult than Rebecca. She’s asking how long will it take to close, I tell her 3 days if no title issues but often it can take 3-6 weeks. Oh crap, she’s saying she dont want to string her father along and she purchased her house in 21 days w financing and yada yada.
I need some patience, but WTF I been trying to buy this house for 6 frikin weeks now. I need an attitude change and to chill.
I offered to take a bag of cash to her today.
I told her, I have cash, I have a $5,000 deposit, I’m buying as is, I want to fix property up, do you want to sell or delay longer?

I wud tell them to stick that property up the yang, if I didnt need the money.

Usually these deals are fun, but dealing with these old biddies is aggravating as hell.

52

The seller’s daughter asked me if I was going to flip this at auction or something. I lied my ass off. I told her my wife and I are going to fix it up and restore it. Oh, Forgive me Karma god.
I sent a new revised and updated purchase contract. 10 day close w a 45 day extension for unforeseen Title issues. 50K purchase price, 5K earnest deposit. No finance contingencies, no inspection, no this no that.
I’m not holding my breath, I’ve already sent the old lady a few offers and she said she wud have it signed and then the excuses followed.
The seller’s daughter says she will go over it with her Mom and Dad and get back to me this week.
I got it sold for 55K, so that is some good motivation, and I might be able to squeeze a few more grand out of buyer with a good story.
It’s starting to get fun again.

53

I was surprised to get the contract back and signed. I suspect the daughter is a realtor cuz of how she butchered my contract and reworded it. I can’t have access or a key, I got a buyer wanting to see it, and these sellers from hell want to know who wants to see it cuz I already seen it. I told the daughter, my lender, my contractor, my wife etc, why? Oh crap here comes her attitude. They cant leave a key hidden, they have to be there, oh and she had it written into the purchase agreement. I’m trying to not blow a gasket here.
Now my buyers that wanted it b4 at 55K are not acting very enthusiastic and its been 24 hrs since they were going to talk about it. He didnt remember which house it was and said he didnt see it, I said yea u did, u ran over there and called me from the house. Or I was thinking I cuda said that that. Of course it’s been over 7 weeks.
I don’t think these dragon ladies want me to profit, they wrote it into the contract that only I was the buyer and crossed out the part that says this contract is assignable, I got some special words for these women, but I need to get back to my happy place. I’m gonna assign this POS so fast.

My regular buyer wants it at 50K I had told him 57. MY reply was, I got it for 50, lets do 55, now he wants to see it b4 his best and final offer. I;m going down in flames.

I’m gona be crawling off into my cave when or if this deal is done. But it’s fun.

54

I feel your pain. This is why I don’t screw around with sellers that are this unserious.

One, or two, of the seller’s family members needs to be a hero, so, they’re putting up needless roadblocks in order to create satisfaction in the deal.

It’s one of those instances where not meeting with all the decision makers illustrates how easily a seller can cut off your testicles and dangle them under your nose …because you didn’t qualify them well enough before you got down to business.

At this point, I’d say something along the lines of, “You have my last and highest offer. It’s not open to more negotiations. I’ve already negotiated a fair deal with you, so either approve it as written, or I’m moving on. And you’ve got until 5:00 today to approve the deal in writing.”

Or 2) “I’m fine with your new terms, and here’s my new price of $41,350. After you approve the agreement with your signature, we’ll open escrow.”

For me, I get to choose price, or I get to choose terms. So, it’s just a matter of figuring out which one I be getting.

If I may be so bold… Go out to the old man’s house, with Granny and Ellie May present, negotiate a signature, and stop allowing this non-committal, let-me-get-back-to-you crap from continuing. I mean, you get what you allow. Otherwise, how long do you let these fart-heads string you along? Just asking.

Of course, I don’t know the whole story, and my advice here may be worth squat.

FWIW

55

Haha, Yea, any wholesaler with a molecule of self respect wud hav laid down the law with these psycho emotional sellers and been ready to walk or run.
But I can bite the bullet to make a few grand, cuz you see, I’ve been on the hard side of town.
I used to work for a living, and the horrendous crap I took back then from the boss and others, makes this look like a stroll down easy street.

56

I don’t do wholesaling for precisely the reasons you’ve demonstrated here.

However, I do always tell sellers that I’m an investor.

Once that’s been established, the seller kind of expects that I won’t be living in the house, and that I might shop the offer to other buyers.

So, I kill several birds with one stone by sifting out the suspects that care more about my profession and exit strategies than they care about actually selling.

One of the keys I’ve learned in reducing resistance, is pacing and mimicking the seller’s language and style. Since few people like dealing with someone who seems to know more than they do, I try to dumb my act down to their level.

For example, I never use the term ‘sub2’ with a suspect. A contract becomes an ‘agreement.’ Execute becomes ‘complete.’ Sign this becomes ‘approve this.’ Etc.

As for the deal you’re back and forth on, you’ve never had control of this negotiation. It’s time to seize control, and resist negotiating from your heels.

I’d say you’re beyond “Let’s Make a Deal,” and you’re now at the, “Here’s The Deal,” portion of the competition.

FWIW

57

It’s really important to care less than the suspect does about any deal.

If the seller thinks he’s got you hooked, then he’ll play the line; wear you out; and reel you in like a fish.

That’s the main reason I try to (figuratively speaking) shake the suspects off the line at the beginning. This actually sets the hook, and puts me in control of the deal. Otherwise, the suspect gets the idea that he’s in control, and he’ll play me like …a Marlin. Yeah, well screw that.

58

I was played like a fiddle, when I crawled out of this deal, I muttered, “Don’t hurt me”
This is one of those deals I fully expect to explode any minute. If it goes south, that might be fun too.

But I need some marketing money, keepin positive.

59

My buyer/realtor/wholesaler Matt offered me 50K for this fixer. My other buyer Jake seems to have no interest.
I tell Matt (he’s the guy that drives the white & chrome w outrageous rims pimped out Escalade)
I tell Matt, I got it for 50, let’s do 55K Matt wants to look it over in person b4 he gives me his final and best offer.
I set up an appointment w Roberta our passive dragon lady seller for Saturday at 1PM
Oh crap, at 1:12 PM Roberta and the psychotic aggressive daugher are txting. Were here where you?
I txt Matt, he txts his guy, both sellers are asking why I’m not going to be there, I tell them my guy is going, not me. I thought you and ur wife and contractor and lender and holy get me outa here.
Matt told his guy to say he works with me. The lies continue. After an hour passed Roberta txts me to say Diego was very nice and had completed his inspection.
I’m still doubtful as hell that this deal will fly.
But then at 5 PM Matt calls, he says his guy will do 54K and no more and he needs to make something so what do I want to do? I tell him, well hell, let’s take 2K each. He says done. Send me the purchase contract and assignment.
I’m still not counting my chickens yet, what happens when Roberta and psycho realtor daughter find out Diego is taking this and Randy, that blankity blank wholesaled this property when I specificaly crossed out the part on his contract that says he can assign it, & he told me he and his wife were going to lovingly restore this house, and now him and his Buddy Matt are trying to run off with 4 grand that shud be in our pocket.
Common sense suggests she sold for the price she agreed on, what the hell does it matter?
The title holder is Bernal, Roberta’s husband, he’s older than the hills, sick and he inherited this property.
But, I am having fun here. I’m making 2 grand only but that will keep the wheels greased.

60

The Title Company called yesterday, they had emailed my assignment, Matt had already signed it, I quickly printed, signed , scanned and sent it back.
These guys don’t screw around.
My first buyer Jake txted saying him and his partner were getting ready to go view the property, I txted him back, “that property sold fast”, your 3 days late, then he calls.
What’s really sick is once it closes I will email the dragon ladies and thank them $ wish them well, when what I really want is to punish them with torture and pain and etc.
Now time to think about how I will play this other deal I got going, 2 yr old house, sellers moving for a job out of state, I offered them 10K and the mortgage balance. There is some good equity there and I bet I can sell this property to a retail buyer.
Be fun to wholesale a nice new home instead of these fixers.