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