Trying to get started: need advice - Posted by Joe(MO)

Posted by Ronald Mayor on November 25, 2000 at 21:05:26:

Wendy’s might even take your sorry ass

Trying to get started: need advice - Posted by Joe(MO)

Posted by Joe(MO) on November 25, 2000 at 20:22:51:

Hello. I am attempting to get started in real estate investing. I have researched this field for over a year and am ready to begin. I am finding quite a few people who are willing to owner finance on a contract for deed, lease option, or just carry the loan. The problem is that once they find out I will be using it as a rental property or subleasing it they then refuse to deal with me and act like I am trying to “pull a fast one.” I tell them all of the positives in their favor with these practices, but they just seem to not want to deal with me after that. It seems to be going real smoothly until they find out I won’t be occupying it . I need some help from anyone, please. Thx.

Dealing with greedy sellers - Posted by BillW.

Posted by BillW. on November 26, 2000 at 08:04:49:

It looks like you’re dealing with sellers who are greedy. If you are finding sellers who are willing to deal at the discount level you need to make the deal work, they will be MOTIVATED and won’t care if you make a profit as long as their problem is solved. As the “profit margin” closes and you are getting closer to the actual value of the property, some sellers get greedy. When they see that you have a solution, they will either decide to try it themselves or they will kill the deal because some people are so greedy that they can’t stand it if someone else makes a dollar on them.
Just a thought…why are you telling them in detail what you will do after you get the property? What business is it of theirs? It seems to me that if you limit your talk to the deal between them and you and leave out what will happen later, there may not be as many problems. In the body of your sales contract, there shuld be a clause somewhere that says you will be able to do what you want with the property once it becomes yours, as long as you meet your obligations to the seller. Just let that clause do the talking, not you. Don’t mention it. If the seller even mentions it, just say you need to keep your options open. If they object, tell them no deal and move to the next deal.
What’s happening here is the seller is trying to tell you what you can do with the property after you buy it. (Can a car dealer tell you what to do with your car after you buy it? No… as long as you pay for it, you can do what you want!) Keep looking for motivated sellers.

Re: Trying to get started: need advice - Posted by dewCO

Posted by dewCO on November 25, 2000 at 21:01:49:

You need to find MOTIVATED sellers, not just propeties or sellers. Fo to the How to Articles and read Joe Kaiser’s “Getting on the same page with the Seller.”

Solid Advise - Posted by Ronald Mayor

Posted by Ronald Mayor on November 25, 2000 at 20:42:13:

McDonalds & Burger King are hiring right now!

*Good Starting Pay
*All You Can Eat
*No Seller Carrybacks To Deal With
*No Lease Option Bull
*And lastly you’ll have a lot of motivated buyers coming to see you constantly! Only problem is they’ll all be fat & overweight

Ronald McDonald & Mayor McCheese & The Hamburglar


You may occasionally be accused of “PULLING A FAST ONE” if ya know what I mean.

Re: Dealing with greedy sellers - Posted by Joe

Posted by Joe on November 26, 2000 at 15:03:31:

Excellent advice Bill. Thank you very much.