Posted by GLen SoCal on March 28, 2002 at 17:23:27:
Phoenix Investor-
I’m setting up a database of investors. Did you use Excel for this or just type it out. I don’t want to make it too complicated but for changing/adding info a spreadsheet helps.
And since haven’t done this before, can you give me some idea of the headings you use, like: Name, phone #, property type preferred, Hard money lender, rehabber, LTV needed, etc…
Thanks,
Glen SoCal
i buy houses cash - Posted by paula
Posted by paula on March 28, 2002 at 08:12:10:
I see signs that say-
“i buy houses cash, any situation, any condition.”
thats great- good for them- i bet they are having motivated sellers calling them all day long! I’ve read the archives on finding motivated sellers, and have picked up some great ideas. My question is,how can i advertise with these signs when i don’t have the cash to buy these houses? Now i have a couple of lenders that will extend huge credit lines- but those deals take a couple of weeks to do- any ideas?
thank you in advance
i buy houses cash (but not yours) - Posted by investorrob
Posted by investorrob on March 28, 2002 at 09:52:37:
Paula
Your thinking is good. Use what you feel is right for you.
On my signs I have --(I BUY HOUSES)–(I TAKE OVER PAYMENTS) The Subject 2 Guru’s Charle France use just “I BUY HOUSES”
Some thought on the “I pay cash” part on the sign. If you found a home and the seller was so motivated that you could buy the house for 60% of FMV. I bet you could do 1 of 3 things. 1- Bring in someone with you on the deal that had the money and you split the profit when sold. 2- Find a hard money lender that would loan on just the value of the house–not your credit involved here. 3- Flip to another investor and you take a few $1000. These 3 ways all would be cash for the seller–just not your cash. So you see if one puts the “cash” part on the sign one could give the seller cash—right!!!
Go do some deals with L/O or subject 2. You don’t need credit or much money investing this way. Or some way of investing that you like. Then look for the people that will be your resourse to do the type of investing stated above. Because you just may well find a property that would be the perfect property for investing as stated above.
The very best of investing to you.
investorrob
Re: i buy houses cash - Posted by Steve-DC
Posted by Steve-DC on March 28, 2002 at 08:42:21:
I’m glad you asked because I think this is a problem. I personally don’t believe that people should market resources that they don’t have.
Now, there are ways to say things in marketing that sound attractive but can be interpreted different ways. I think that’s ok.
Bottom line is if you don’t feel comfortable saying it don’t. If you can find a way to say it creatively all the better.
“I buy houses FAST, any situation, any condition…”
“I buy houses, any condition, fast cash. (Fast is relative, but we’ll find you some cash somewhere).”
CASH BUYERS FOR YOUR HOME. (Build a list of investors and wholesale them the property. You’re not the cash buyer, and your ad doesn’t say that either).
Just some thoughts,
-Steve
Re: i buy houses cash - Posted by Phoenix Investor
Posted by Phoenix Investor on March 28, 2002 at 15:07:09:
Steve Dc,
I don’t agree with your response to Paula. Investor Rob hit it right on the money! Steve, your response saying “I personally don’t believe that people should market resources that they don’t have” isn’t all that relative. Let’s face it, you will not be a successful Real Estate Investor if you don’t know how to market to find deals or money for your deals. If I don’t have any money, but I have a database of 50+ Investors that can pay cash and I know there guidelines they buy on, then advertising “I can pay cash for houses” is definitely advertising a resource that I do have.
Paula, advertise to potential sellers that you do have cash, but also advertise to investors that you can be a source of great deals for them. Create a database of these investors and you will be able to create a buying and selling machine so that you can make some cash to take down some bigger deals. Also, as investor Rob said, don’t be afraid of Hard Money if the numbers work. True hard money lenders will close in 3-5 days!
Phoenix Investor
Re: i buy houses cash - Posted by PAULA
Posted by PAULA on March 31, 2002 at 18:37:49:
THANKS FOR ALL OF THE INPUT!
Re: i buy houses cash - Posted by star
Posted by star on March 29, 2002 at 24:35:36:
Phx investor-
Anyway you’d share or sell your database for an east valley newbie?
Star