Ive found 1 investor!! Now what?

I found an invester Here is our conversation:

Me: “Hi there! I was wondering if you guys use bird dogs . I’m interested in
finding properties for you if you do!”

Investor: “yes, always looking for new deals.
Let me know more about what you do”

(his name and telephone#)

ME: “Hey there ! I can find properties for you for a fee of course . If you close on a deal that I referred to you, I collect my fee. Easy! What kind of properties or areas in Memphis do you prefer?”

Investor:Let me ask you where you’ll be finding the properties?

I would only be interested if the deal was listed on the MLS, not a HUD deal or bank foreclosure. I’d be looking at deals that are not available for the competition to bid on.

Please let me know if that is possible.
Do you live in Memphis?

I was going to answer that but what do I ask him? He says he wants MLS listings Is that the ones under a real estate agent or company? What do I say next. I so scared I’m gonna mess up. What do I ask him? And how do I find the kinds of properties for him just by logging on to a website, aren’t they on those? Please
help, I’m getting so excited!

First off, don’t be afraid at all. So what happens if you mess it up? You never talk to him again? Don’t worry about it. You have to learn sometime and you are doing just that. I commend you for that. It takes alot of courage for some people to cold call.

Now I have a question for you and I may have mis read this.

You say that your investor only wants properties on MLS and that he doesn’t want any competition? He could easily find those properties himself. Why would he pay you for that.

The type of properties that he would want you to look for are the run down and vacant properties. That is what I use my bird dogs for.

I am just trying to clarify if that is what your investor said because that does not make much sense to me.


Yeah that’s the same thing I was wondering about! He said he wanted MLS lisings maybe he’s not computer savvy? What do you think I should tell him then? I’m communicating through e-mail to him

REO properties are in the MLS…it doesn’t matter how computer savvy you are - if you are not a member of the MLS or have full access to the MLS, you won’t see all the listings. I would encourage your investor to consider HUD properties, however. You could also find a Realtor you like, find properties to fit the investors wants, get a contract on the property and assign the contract to him/her. You have equitable title to the property when contract is executory…Is that doable?

Thanks for the replies guys, I think he was mistaken here is his latest e-mail to me:

Let me clarify…I’m looking for deals NOT listed on the mls

let me know if you can help

So He does need listings not on the MLS so what are my good resources to help locate the deal? foreclosures.com or something? How do I resume with this conversation, he doesn’t know I’m a beginner of course and I’m trying to keeo it that way. WHat do I tell him or ask him now that I know he does want listings not on the MLS?

I asked him these questions and here is what he said

Can you pay cash?
How quickly can you close?
What is your target Loan To Value (LTV)%?
How many houses do you buy anually?
Whats the biggest re-hab you can do?

We have done the following this year
Bought and sold 175 homes
We have 10 fulltime rehab crews
We ask for 30 days to close but may be able to close sooner
We wholesale properties so we need to purchase them very low.
We sell them to investors at 70 to 80 cents on the dollar so we need to buy them at 60 cents or less
we can do a total renovation

What do yall think?

Shit I have Multi-Mllion Dollar places uning low 60% LTV ready to go no ARV or anything.