More Deals, or More Profit Per deal?

Thanks for pointing that out… it’s still new and they’ve found a few typos on the way.

As far as your question, we would need to know how much it’s “worth”, what the payments are, what terms she will sell with, how many unites are there, what are the rents, are they occupied, etc etc.

Z

Raj, Cesix

C’mon you guys. Why not just admit that you’re jealous? I know that you wish you’d come up with this program yourself. What’s more, I’ve come up with an even better system myself - just now!

I’ve fully automated this system. My ad says “I buy houses and pay 125% of market value”. They type their address into my website and the computer sends them a check. Then, we take people who can’t even afford a bag of potato chips and charge them 150% to 175% of the market value with $25,000 cash up front. (I know you’re thinking that people who can’t afford potato chips don’t have $25,000 - WRONG).

So my question is - how much higher do you think I can charge for the houses? Is 175% enough? 200%? 250%? Does anyone charge more???

Mike (the new system man)

PS, I’m now selling this revolutionary course for only $9,999 and $499 per month! Send your check today!

LOL… you don’t understand it either. Our seller pays exactly what the house is worth at the time. There’s nothing “marked up” and sold for any more than it’s worth.

Keep hanging your bandit signs, lol.

Z

Z,

You’re right, it is funny. The fact is we DO get it, we just don’t agree with it and it obvious that it doesn’t matter what we have to say about it.

Of course, that brings up the question, why did you bother to ask? Goes back to the old saying, ‘Don’t ask the question if you don’t want to know the answer.’

If I didn’t know better, I’d think that this whole post is a thinly veiled ad for this “great new program.” Now, that wouldn’t be the case, would it?

Raj

LOL… did you ever READ the post? I asked what was the lowest net profit you would accept when taking deals. I didn’t ask for your opinion of the system.

I don’t care in the smallest bit what you think of the system.

You can choose to automate and use the internet to market, or you can choose to do what every other failing investor out there is doing: Hang bandit signs, write some letters to foreclosure lists who get 150 of the same from your competition, or put the 24th “WE Buy Houses” ad in your local Pennysaver, and then go to your local REIA to complain you can’t find any deals.

I’ve used technology to complete 14 internet deals so far this year. Automation will have me to 1 a week within the next few months.

So, you “don’t agree” with it? LOL. What’s not to agree with?

Do you disagree with automation?

Do you feel I’m doing something wrong by offering a FAIR PRICE for a change, unlike many of you who are trying to take advantage of vulnerable people in bad situations, and steal their houses from them at 70% of their value? I bet you feel real good when you find one of those, eh? “pop the champagne Marge, we just took someone for $20,000”!

Is it “bad” to send them recurring e-mails letting them know we’re still interested?

Maybe it’s the phone marketing? You won’t call someone during dinner to ask them to sell their house? Trust me… they STOP and listen.

My buyers absolutely LOVE me. I do something most investors CAN’T DO. I get them their own mortgages in their own names… then, they OWN a house because of ME and my silly program that you “don’t agree with”… and they pay a fair price for it.

Sigh. Ask some people to think differently and they get so defensive when they don’t understand something.

Sigh. Ask some people to think differently and they get so defensive when they don’t understand something.
Yeah, I guess that you proved that by the above post.

I don’t care in the smallest bit what you think of the system.
Fine. Understood. Why do you keep bringing it up, then?

You can choose to automate and use the internet to market, or you can choose to do what every other failing investor out there is doing: Hang bandit signs, write some letters to foreclosure lists who get 150 of the same from your competition, or put the 24th “WE Buy Houses” ad in your local Pennysaver, and then go to your local REIA to complain you can’t find any deals.
And yet, there are many experienced (though apparently, failing) investors on this site that have done, and are doing, quite well with the the “old-fashioned” non-automated way of doing business. I mean, if all of us are such failures, why would you care to even ask us what we thought about “more deals, or more profit from deals” (see I did read the post).

Do you feel I’m doing something wrong by offering a FAIR PRICE for a change, unlike many of you who are trying to take advantage of vulnerable people in bad situations, and steal their houses from them at 70% of their value? I bet you feel real good when you find one of those, eh? “pop the champagne Marge, we just took someone for $20,000”!
Now, let’s talk about this one for a minute. You badmouth investors that look for homes at 70% of value (which if you’re interested is the figure to use for rehabs. Standard value for “pretty houses” is much higher) and accuse them of taking advantage of vulnerable people in bad situations (which most don’t do. Successful investors usually give them several options besides selling to them. And some don’t, like me, don’t even deal with homesellers).
Okay, so you offer 100% of asking price, great. But then you say, ““asking price” isn’t always the same as “retail” price, sometimes it’s lower for a quick sale.” Well, let me ask you, o’ righteous one, do you let them know that you’re buying at a discount, or do you just sign on the dotted line like all of us other scumbag investors?
But wait, there’s more! You also negotiate down if there are any repairs or “anything” (which, btw, is HOW all those lowlife, preying investors get to that 70% mark [ or whatever number they use ])
So do you REALLY pay full price? Answer: NO

My buyers absolutely LOVE me.
Mine love me, too. Thanks.

I do something most investors CAN’T DO. I get them their own mortgages in their own names… Now, do you get them they’re OWN mortgages? Just curious, because above you mention putting them in a Lease-option. Find any mortgage broker worth their salt, and they can get people with credit scores of 550 100% financing, even lower if the seller wants to carry a 2nd.

and they pay a fair price for it
I guess that’s all in what you consider a “fair price.” By your own admission, you jack the price up $10-25K above your fullprice offer. So, are you saying that a fair price for your homes is 110-125% of current FMV?

And just so we’re clear, here.

In a post way back, I said that if it’s working for you, great. There are a ton of ways to make money in REI and all legally, ethically, and honestly. I like the way I do, you like the way you do it. Fine.

If this was an ad for the program, you got it in. Congrats.

If this was really a post for answers to your question, you got several, though you’re obviously not happy with them. Sorry.

Good luck,

Raj

LOL, you’re not going to rest until you’ve proven to the world how bad of a guy I am, eh? Who are you trying to convince, the general public? Me? Yourself? Tim?

You really shouldn’t get your knickers in such a bunch over something this silly that has nothing to do with you. It’s not healthy. :grim:

Your trolling for an argument won’t work… I don’t feed trolls. On my forums, you’d have been warned a long time ago.

In any case, if anyone else wants to add a comment about what your minimum profit margin is, feel free to do so. I appreciate the e-mails some of you have sent me as well, they’ve been helpful. :slight_smile:

Z

I have to completely disagree with you Nick. I don’t see anything that is bad enough to get a warning. I don’t see someone looking to fight, or anything remotely close. He disagreed with some of what you said, and you seemed to take it personal. You both made points and opinions that you believe in. As a forum reader, I like seeing differing views. But I really think you overreacted when you suggest he should get a warning for his comments.

When it gets to a point where he’s starting copy and paste my comments and reply to each sentence individually, he’s gone beyond simply giving his opinion, and started to become obssessed with the argument itself. He’s looking for a fight.

Like I said, if it was on my forums, I’d have warned him, but not banned him.

Z

Actually, when someone copies and pastes to answer comments individually like he did is helpful to readers, especially on longer posts. Just because he did that doesn’t mean that he is obsessed or looking to fight. I fail to see what he said that was bad enough for you to suggest he get a warning. I read every post and it seems to me that it’s just two investors disagreeing. I didn’t see any personal attacks or anything like that. I have moderated forums before, and I don’t see anything here to warrant anyone getting warned.

Raj - EXCELLENT POST!

Isn’t that interesting - I was thinking EXACTLY the same thing! Is this just an ad for a “new” system designed to separate vulnerable newbies from their money? I didn’t hear a denial from ZNICK on that point - just a personal attack. That sounds to me like someone trying to defend their product!!! Let’s cut to the chase - ZNICK - are you selling this system???

I’ve noticed that many of the posts on this website aren’t from investors but from non-investors or new-investors with something to sell (notice the tag lines at the bottom of the posts).

ZNICK - the reason that the seasoned investors on this site are skeptical is that paying retail for a property does NOT make business sense. It also does NOT make sense that you are charging more than retail to your clients and that they are willing to pay 110% to 125% of the FMV. It also doesn’t make sense that you have “angel” financing for people who can’t get financed anywhere else. All I can say is better you than me - I sure wouldn’t loan my money to someone who has terrible credit!!! The one thing that would make sense is that you’re involved in the sale of this new system and are trying to get some of the newbies to part with their money! Please enlighten us! ARE YOU SELLING THIS NEW SYSTEM? DO YOU HAVE ANY FINANCIAL STAKE IN IT?

Mike

Hey,
Appears you are breaking investing rule #1 : Make your money going in (when you buy).
Peace,
Richard

gotta love it when a guy asks for answers and then gets upset when people are honest with him.

IT’S ALL OPINION! nothing to get upset about.

Nope, I’m not selling the system, lol. I might get $50 or something if someone refers me, but that’s FAR from why I posted. That’s CHUMP CHANGE! I could care less about $50, lol.

gotta love it when a guy asks for answers and then gets upset when people are honest with him

What are you talking about? NOBODY answered my question… not ONE of you. I was TRYING to get a few opinions on how to decide on the minimum $ amount to accept deals for, but of course nobody even dreamed of answering the question, you all were too busy insulting me.

Also, don’t start condemming my selling a property on a L/O basis for 10%-15% more than the current value… EVERYBODY does it who’s involved in subject-to deals, and EVERY “guru” on the circuit teaches the same thing, as does every book on the market.

Flame away if you insist, it won’t stop me. I’m 110% positive I do more deals a month than 90% of the readers here do in a year. Of course, I do it all wrong, right?

Z

i have no idea if your methods are right or wrong, and frankly, i don’t care. i never commented on them or thought about them.

i’m happy for you that you are doing so many deals. if i was doing that many deals, i probably wouldn’t waste my time on here talking to a bunch of know nothing bums like us though.

but to each his own. go on with your bad self.

Geez Nick, you really take the cake.

Nobody answered your question? Nick, everybody answered your question, granted some with a tongue-in-cheek, response, but answered all the same.

To recap, the question was “more deals or more profit per deal”
If you’ll scroll up real close to the top, my first sentence was “more profit per deal.” Sounds like an answer to me.

Also, don’t start condemming my selling a property on a L/O basis for 10%-15% more than the current value… EVERYBODY does it who’s involved in subject-to deals, and EVERY “guru” on the circuit teaches the same thing, as does every book on the market.
(okay, I know that copying this makes me “obsessive” but what can I say :D)
Well now, you’re just flipflopping. You didn’t say that you do a l/o and bump the price 10-15%, you said that you SELL them for up to 25% over the value. There’s a big difference. (BTW, the “gurus” teach to bump the value of a l/o by the average appreciation, which could be 10%, or 3%, or 5%, etc., etc.) And let’s not forget, that just recently, we investors that offered less the fullprice were on the low side of your moral spectrum. Now, it’s okay for you to bump the price because “Everybody” does it. Is this the same “everybody” that you flamed a post or two back?

Which brings me to my next point. I definitely see flaming posts and insults flying, but it’s from your keyboard, not mine. I believe I’ve said several times already, if it’s working for you, great!

And finally,
I can almost (almost) guarantee you that you do more deals than I do in a year. It’s not the number of deals, it’s the profit (kinda goes back to the original question, don’t you think?).
Perfect example is Robyn Thompson. She says that she makes an average of $2 million a year investing in REI (not in seminar, books, courses, etc.). She does 2 deals (that’s TWO) a year, each averaging $1 million profit.

So, the answer again is MORE PROFIT PER DEAL.

Raj

Boy you can stretch your slanted point of view further than a rubber band around a football field.

I KNOW Robyn and her program… she averages 50 deals a year and $27k a deal. Robyn did two deals last year, lol. Now I am certain you’re making stuff up.

Z

GOD, PLEASE LET THIS THREAD DIE.

AMEN

Nick,

That came straight from her lips. Anyone that went to the TCI Real Estate Convention in Greensboro, NC can attest to it. Whether it’s valid or not, you be the judge. But make sure that you call HER the liar, not me.

Which I’ll point out again, for the last time, the flaming is coming from you, not anyone else. That’s disappointing, as you seemed like a better person than that in previous posts.

cecsix,

It’s over for me. I’m through even reading it.

ZNICK,

Good luck, God bless, and Live long and prosper.

Bye, Amen, I’m Gone.

Raj

I read this thread earlier today and found it both interesting and entertaining, until I got bored because it got so obvious that it was just another case of someone misrepresenting themselves annonomously. My reaction got even worse a few minutes ago when I saw a posting of ZNick’s on another RE investor’s website - you guys went EASY on him compared to what that other group had to say!

I guess its inevitable that there’s some BS in any open forum, just hope guys like this do it on their own time, not ours.