Let me know what the big dogs are doing so I can get an idea of what is realistic.
That all depends on how many you want to do.Set a goal for about 20 a week.I will only put an option on what i’m willing to pay,only thing they can do is reject it,but atleast you’ll have a written contract in front of them and either they will accept or tell them to hold on to it incase you change your mind.I’m only gonna go as high as 75% ARV,but then again it depends on the market.If you have a red hot market and houses are selling very quick then i will come up to 90-95% of ARV.The key thing is is to forget the price and make your offers.If you make a 100 offers in a month and get 3 that will accept and you make 15 to 20k on eack one then thats pretty good.
When you make your offers are you giving the offer to the owner or the agent and waiting to see if something happens? How does that process work briefly?
Personally i dont work with agents.If its listed then i’ll wait until it expires,because what ever you get it down to then the owner still has to pay 6-8% commission to the realtor.I’m not saying that you can’t find decent deals through them but i do better getting motivated buyers coming to me.If they tell me that they’re listed with a realtor then i tell them to let me know when it expires ( but thats just me).
are those motivated buyers coming by way of direct mail, bandit sign, etc.?
Yep! Not all of them will be but the majority will be in some kind of situation needing to sell.
I am not a big dog, you will have to ask them what they are doing, but us little guys are doing this:
December I bought 4 properties
January of 07 I sold four.
I have one more under contract to sell.
and another lease option that will be closing with the end user this month.
The four sold this week, the day after closing I put 2 under contract (one of them went into foreclose at 108k, I got it for 29,000).
I have another that I am putting under contract this weekend and I think I have it wholesaled for a $7k profit on tuesday.
Not bad for an idiot, though
Eric don’t get discouraged! one day you’ll get there! Just hold on tight to your dreams!
I’ll keep my head up high, and wont quit till 10 deals a month.
Eric Medemar
LOL!
Eric’s ALREADY a BIG DOG in the yard! no dreamin goin on there.
looks like he benches about 450, so he’s a double big dog