I’m concentrating on SandwichLeaseOptions as my primary way to start investing. I’m very much familiar with the aspects of contracts, structuring the numbers, etc.
I have searched the MLS under the keywords; “motivated, as-is, relocating, etc” to narrow my search on homes that may meet my criteria.
My question to the forum…
Being a Realtor…How do you tactfully make offers to other Realtors to see if their clients are motivated enough to entertain certain offers.
I would rather send an email or short letter of intent instead of wasting time writing up 8page contract after 8page contract when the homeowner isn’t even that motivated.
Anyone have experience with this? Thanks for the replies.
Darin
HHI Investing
Oh, I don’t know. You could try that new invention…hmm… what’s it called? Oh, yeah! A telephone!!!
Seriously, personal communication is best. No, don’t start writing up contracts, and no, don’t send an email. Call the people, or better still, stop by their office and talk to the FACE2FACE. Works wonders.
As a Realtor, you haven’t ever called up an agent to let them know that you (either for yourself or a client) wants to make an offer, but it’s low or has strange requests, and you just wanted to know if you need to bother?
Raj
“JUST DO IT” TIGER WOODS :cool
Darin,
I believe a lot of times “you get what you ask for”. If you find talking difficult to do ask someone you know that likes to talk. Realtors are struggling as well. They want to sale the home more than you want to purchase it. Trust me. I just call and ask. You never know. If they are serious they know what the seller is willing to sale the home for and they should be willing to discuss it with you. Good luck
askwhit
I can see the frustration of you proposing alternatives to a listing Realtor only told, "What’s in it for me?"The info I got from the Realtor I work with is that you disclose you are an agent OR Realtor at the point of serious negotiation. In addition, it’s disclosed on the contract as well with additional language that you are however acting as a a princpal in the agreement. You’re not to be tarred and feathered simply because you are a licensed Realtor or agent. I would suggest that you becme familiar with the other aspects of investing to put more bucks in your pocket because you seem to be focused on maybe 25% of the business you could be getting out there with just “sandwich leases” or lease options. Running ads to attract motivated sellers is a good way to start keeping in mind that you should have the proper training to handle just about any scenario a seller tells you about. Suppose they are not in a position for a conventional sale and can’t or won’t list their property for sale with a Realtor. Can you offer any other options? Senarios could include: no equity to pay a commission, a few payments behind already, property needs repairs they can’t afford, tired of lanlording and the list goes on. Form a separate corporation to do your investing in and wear 2 hats! You also don’t want your corp sued for interference of contract so if you’re not making cash offers to sellers with listed properties, the sandwich idea is not an option unless there’s a release agreed upon by seller and agent and even then I wouldn’t do it.
. Good luck whatever you decide! Let me know if I can be of further help