first deal attempt and need advice or mentor - Posted by jess

Posted by BTI on July 19, 2007 at 10:20:20:


In reality you only have a few drops of info on this owner, you need to gather much more info or intelligence about this property and owner.

But as an off the cuff assessment, this guy is definitely not someone you should spend much time with based on the info you have provided so far.

And in California if you want to make a buck for putting a deal together you better make sure your a principle in the deal, and do nothing that can be called working without a real estate license and be subject to the penalties for that.


first deal attempt and need advice or mentor - Posted by jess

Posted by jess on July 19, 2007 at 09:39:50:

I noticed a house fsbo it is been on the market for atleast 5 mths I went to an open house a while back and the house is beautiful owner has it on the market for what its worth $540. I researched the value and that is, what it is worth in the area, yes I am in california but houses around here are selling for that much and some not as pretty as this one, now I figure he must be doing something wrong if this beautiful home has not been sold yet. My question how would I approach him about trying to find him a buyer I would like to try and put and add in the paper like no bank qualifying beautiful home!!! etc you get the picture, and bring in some qualified buyers for him
Best way to approach owner

contract or form guarantees a fee for me (I am not an agent) only a scout and how much should I claim

How would I talk to him about what type of structured note he is looking for

I have always read on this forum about helping people solve there probelems and that is what I want to do find him a buyer, and help a buyer find a beautiful home and get compensated for it. I have seen several opptys around but I need to know how to approach and how this really works… I have studied alot but still have a lil cloud of dust around my head…

Re: first deal attempt and need advice or mentor - Posted by Sailor

Posted by Sailor on July 19, 2007 at 12:52:39:

If this house was under mkt, it would probably already have sold. I’d be wary of flaws. An obvious one would be a floor plan women don’t like.

I don’t think this is a good 1st deal for a novice. Much better to do lower end housing. Better mkt & less risk. I’m not sure how you plan to offer no bank qualifying. BTI’s caveat about not acting as an agent is something to which you should pay strict attn.

This house might be something good for an experienced investor, but there is no way to tell from the info you provided.