Why don’t you approach Realtors about financing a trip to Mars. About as likely to get there as to Realtor help you on a creative fi deal.
The problems here are probably threefold. One is that the Realtor only knows one way to deal. Get the listing, find the buyer, find the mortgage, close. They don’t know how to do anything else. Second problem is that you need a motivated seller. If a motivated seller comes to a Realtor, the Realtor is either going to snap the property up for himself, or, thirdly, turn it over to his investor partner.
The answer is to make the motivated seller come to you. And that’s easy, but takes a little bit of marketing work.
Also wondering about realty agencies and such… - Posted by Brandon Treat
Posted by Brandon Treat on July 24, 2001 at 23:30:18:
Also, taking off from my last post just below this one, I’m wondering what has been the experience of other investors when approaching realty companies with the idea of buying other than traditionally? As far as making offers go, I’ve had the experience of realtors insisting on using their form, which is incredibly limiting and frustrating.
Creatively speaking…
What generally doesn’t have a chance in heck of even getting through as an offer when dealing through realtors? (i.e. ‘subject-to’s have no chance, lease options might work’ etc…)
How do you make an effective rubber stamp creative offer without the time consuming need to accompany the realtor to present the offer in person and slowly explain all the details of what you’re trying to do and why it could work for the seller, all the while with the realtor behind you secretly shaking his head ‘no’ at the seller?
Guess that’s it for now, hope to have a “My God! FINALLY completed my first real deal!” kind of post soon.
Hi Brandon, It’s not unreasonable for a realtor to encourage you to use their form since most of the verbiage therein is to protect the realtor. My first 4 houses were purchased using a realtor. This was a friend of mine who switched from a nursing career to a career in real estate. She was hungry, understood my limited resources at the time, and knew how to weed out deals - infact all my successful purchases were made the first day the houses were listed. She was good at weeding out homes that were undervalued. I now find houses myself - but suggest that if you want to use realtors you talk to as many as you have to until you find someone who will work with you. Good luck