HFP

Thanks MC! Any recommendations for a good source to find new agents? Also, what would you recommend as a fee for the agent? Thanks again.

I was thinking of trying to connect with a realtor as a source for comps. and expireds but I'm not sure what I should offer them in return. Obviously, I would be passing their name to any prospects that don't work with me but should I offer them any other form of incentive? (ie. pay them a fee when a deal happens, etc.) To me, this seems to be an important source, as I will need to figure out comps. I would appreciate any input or experiences of using a realtor in your business. Thank you!

Michael, Thank you for your reply! My scenario of what the homeowner "wants" was a hypothetical question but thank you for emphasizing the importance of what the market will allow vs. the sellers wants. So to be clear, I would have the option contract with the seller for $210K, is that correct? Thanks again for your help!

As I was reading more posts this morning, I found myself starting to question what I thought I understood...therefore, I would appreciate some clarification regarding the option fee when working with a CA. If the seller wants $200,000, which of the following is correct: - I structure the deal with the seller for $205,000 (their price plus my option fee) or - I structure the deal with the seller for $200,000 and then structure the deal with the T/B for $205,000 and pocket the option fee. Also, how is the option fee credited towards the purchase price when the money never went to the homeowner? Thank you for the clarification!

As I'm searching Craigslist, I'm seeing many postings by realtors and was wondering what their role would be if I'm trying to put together a CA? Where would they make their fee from? I haven't contacted any yet because I'm not sure how they would fit into the picture. Thanks for your input!

John, What is a "scraper"? Thanks

Michael,thanks for your reply. I like the fact that you are having the homeowner make the final call. What exactly are you looking for on the credit report? Do you set up the T/B with a credit repair/improvement company and/or mortgage broker? Thanks for your insight!

When working a CA, what is your degree of involvement when finding a T/B? (Do you run a credit check/ background check?) How do you know if your potential T/B is satisfactory?

Thanks Michael! Good to know and I will.

Michael & John, Thank you for your feedback! I will take your advice and only focus on CAs to get started.

John, You mentioned including a magnet of your business card with the door hangers. What type of business card would that be, a professional business card or a marketing business card? Thanks for sharing!

When distributing flyers to homes, where exactly are you placing them? Thanks!

Has anyone used the LO forms as-is in New York? Have there been any issues? Thank you!

How would I determine what type of deal to offer? What scenario/ numbers would have me think sandwich LO vs. an assignment and vice versa? Is it: if there is little to no equity = assignment vs. having equity = sandwich LO or assignment? Thank you!

As I am reading through the NI manual about talking to sellers, it mentions that we say to them that we make the rent payments directly to them, not the T/B. It also mentions that we collect the rent from the T/B, therefore they won't have any rent collections problems. How can we say this if we don't yet know what kind of deal we may have (ie. sandwich LO or assignment)? If we do an assignment, the above dialogue will not be true because we will be out of the deal. I don't want to be misleading, so is there something that I'm missing here? I appreciate any clarification. Thank you!

As I'm reading throught the NI manual, I have a question regarding the assignments. Is the only difference between an assignment (strategy 2, pg.21) and a cooperative assignment (strategy 3, pg.24) the fact that the homeowner/seller will have a say in the approval/disapproval of the T/B in a CA? Thank you for your clarification!

Thank you for all of your input. Happy Holidays!

Hello Everyone, As someone who is about to get started (again), what do you feel is the necessary minimum knowledge? I often read and have experienced that the most important aspect is to just take action and actually start. But I feel that I have so many questions, how do I know when I'm ready? Also, I am not expecting to know everything prior to starting, I am just trying to figure out how much is enough to start taking action. Thank you for any input/ advice you may provide. Happy Holidays! Chad

If you believe the market value is $102K or even basing it off the sellers $99K, wouldn't the $110k be within a reasonable range? Is it accurate to say that since we are usually dealing with T/Bs that are credit challenged, it would be acceptable to have our asking price up to approx. 10% higher than market value?

To any fellow marines on this forum, Happy Birthday! Check out the tribute video put together by godaddy.com http://www.godaddy.com/holiday/usmc/usmc-2...spx?isc=gdz1109

Nice! What type of arrangement did you set up with the realtor?

Any ideas about the best way to find a new agent? Thanks. Chad

If I'm just getting started and I don't have a realtor connection, are there any other avenues to getting expired MLS listings? Chad

If I'm just starting out and don't have a realtor connection, are there any other avenues to expired MLS listings? Chad

Thanks MC and Doug for your input. I am of the same mindset, you're an adult and I'm going to treat you as such, but I started to feel as if I was going to have to play the hand holding role. Thanks for the clarification. I now feel that I can continue moving forward. All the best, Chad