Posted by Ralf on May 20, 2005 at 17:10:03:
I’m getting started on my own. A Realtor would not entertain any offers from me in the position I’m in. (No cash, credit, or intention to buy outright) I figured I’d get a couple of Realtors on my side after I’ve raised cash from wholesaling and am in a position to tackle rehabs. Then I can make offers that I actually intend to close on and show sufficient proof of funds or the backing of lenders to do so.
Thanks for all the responses.
Ralf
Most polite way to cut sellers loose-on the phone? - Posted by Ralf
Posted by Ralf on May 18, 2005 at 18:07:17:
When I’m screening calls I get off my bandits, I always ask the seller if the house needs any repairs. So far all my calls have been from people with pretty houses, so they assume that this is a perfect candidate and I should stop what I’m doing and jump right on it. What is the best, most polite way to tell sellers that you’re only interested in vacant or trashed houses while cutting them loose? Also, would I get a better response from putting out signs that say “I buy UGLY houses” as oppossed to the standard “We buy houses”? I’ve considered using only the ugly house signs, but felt that many people would be too offended or embarrassed to admit that they have an ugly house, and would never call.
Ralf Rojas
Re: Most polite way… - Posted by Richard
Posted by Richard on May 19, 2005 at 22:33:02:
Ralf,
I’m guessing that your local REI Association has a whole bunch of investors who would love to have these leads. You could end up with a referral fee for the same time it takes you right now. Just jot down their digits and pass them along to a new best buddy.
Best regards,
Richard
Re: Most polite way to cut sellers loose? - Posted by Mr. Big
Posted by Mr. Big on May 19, 2005 at 17:09:18:
Once you find out the deal is not for you, tell them politely that it is not quite what you are looking for but you can recommend an excellent real estate agent. Give them the name and number of your pet re agent.
There is a reason for this. You need an agent to give you estimates on the value of properties and answer other questions. If you find a smart helpfull agent make sure he or she gets commission check after commission check from your referrals and you will have a good friend at no cost to you. In fact you should spread the referrals among several agents and have several of them in your corner when you need help.
You could even give the seller’s name and number to the agent. At least give him a call after you have recommended him a few times to make sure he knows where the extra business is coming from.
Re: Most polite - Posted by John
Posted by John on May 18, 2005 at 19:50:04:
You might be surprised at some of the deals that you might be skipping over just because the house isn’t ugly. Look into buying subject to the existing financing. You may pick up some good deals with decent equity.
Re: Most polite - Posted by Ralf
Posted by Ralf on May 18, 2005 at 20:30:33:
I’m only looking for wholesale deals at the moment, John. The market Im in is super hot and sellers aren’t receptive to anything creative.
Re: Most polite - Posted by IB (NJ)
Posted by IB (NJ) on May 20, 2005 at 24:09:12:
I save these calls for Realtors I need favors from. Whether it’s comps, referrals, etc. If folks want retail for their house I tell them they’re better off dealing with a realtor. I then ask is it okay if I have my Realtor call them. As far as I’m concerned, every call is an opportunity. If not for me, someone on my team.
you can wholesale a pretty house too - Posted by Rob Ricker
Posted by Rob Ricker on May 19, 2005 at 13:39:08:
Most of them won’t be deals, but it could be worth listening to the ‘pretty house’ sellers. People with pretty houses have financial problems too … and various other reasons that would cause them to give you some equity.