mamasanta25

Okay Michael, what do you suggest I do, say, this week while the condo is just sitting there not in the paper or anything? I can get it in the Sunday paper again, but that's my only plan for now, what else do I do??????

It is really messed up that I have let this deal get me so down, because the market right now over here is hopping. I saw like ten fsbo signs yesterday. I have been getting numbers, but not with enthusiasm like I should be. I don't even know where I put them. What the hell is my problem? I really could probably have gotten another deal by now. But then again, houses are selling like hotcakes around here, so maybe the owners wouldn't want to hear from me anyway. But money is hard. I have never experienced financial difficulties until now, because we always made a LOT of money every week. My husband was an over the road mover, and he got PAID for his sacrifices of not seeing his girls grow. But now he is at a regular decent paying job, and we are feeling it. So, my point is that I know this is the reason for my self doubts, and also , if the money ain't there to spend, I can't market Mr. Homeowner's home anyway. What kind of ass would I feel like then? I AM NOT quitting, I am just confused and possibly blind right now. -_-

Thanks for the additional encouragement Andrew and Michael. As for additional marketing time, do you mean like possibly running the ad for 7 consecutive days, perhaps? The way the paper works here is that they suggest you run it in Sunday's paper for a fee of 53 dollars. If I run it for a week, the price may be double, but the most exposure comes from Sunday's paper. I am planning to market the condo for another month, and I am looking for a job. The only problem is that real estate may have to take a third or fourth position until we aren't broke. I have summer school and kids, and soon I will have a job. Although I had hoped for immediate success on this deal, I will try not to let it get me down, and realize that it doesn't have to be the downfall of my real estate career. Thanks guys for all the love.

Thanks a lot for the encouragement. I appreciate it. Thanks King Richard. Thanks Tony. I won't give up on my dreams, but I have to put them on hold.

Summer, most big companies in the area of the condo say that they don't "post those sorts of fliers". I am not having too much luck with that. But thanks for the ideas.

I really don't think of myself as a quitter, but I seriously do not have the funds to pay for any more marketing of this condo. I don't even have the funds to pay bills at the time being. I guess I was naiive to spend money on ads and signs, and a fax machine, and actually think that I would close a deal sooner than later. Life is a learning experience. I learned the hard way. I don't know how I am supposed to face the seller and tell him that I have to back out of the deal. I mean, I MIGHT be able to put ONE more ad in the paper, but that will be it. Last weeks ad only brought me one showing, and she seemed interested, but I haven't heard back from her. (That was yesterday) I can't throw any more money out the door here. I am not even looking for more deals, because I wouldn't be able to market them anyway. Reality kicks you in the ass, doesn't it?

Hello All, This weekend I put an ad in the paper, and it was not successful. I received 4 calls. Three out of four are not interested. I can't get a hold of one guy who left a message. I am running out of money to spend on this deal. It is gettting to the point where I need to either make money in this business very soon, or get a regular job. We are going down. I have put too much money into this deal and this business without any profit. I didn't think it would be so difficult to fill a vacant condo. I can't spend any more money right now, so I will have to rely on fliers and word of mouth, or pull out of the deal.

Yes, that's correct. I placed it on the main road directly in front of the condominium complex entrance. There is only one entrance, and the seller's condo is located way in the back of the complex backing up to a prairie, actually. He doesn't want the sign directly in front of his condo, he says he doesn't want his nosey neighbors knowing what he is doing yet. The main road goes east/west, and my sign was VERY big and VERY noticeable, and two sided.

Thanks Nick.

But hey, we all want to get to the full time level, and you are simply exhibiting the fact that it is possible for anybody to be successful in this business if they do not give up in any way, shape, or form. You are giving us a preview of what life will be like when we do commit full time to the business.

How long does one market a property for without going broke? I mean, most of us starting out do not have mucho dinero, if you know what I mean. I know I have to get another sign to place near the property, but I honestly don't know where to put it where it won't get taken down. The sign shop suggested that the city probably had to mow the grass and took it down without a thought or a care. fSo, Michael, or anyone, is there any magic number of months that we should or should not hold on to a property. I can't believe that I have spent all of this money and nothing will come out of it.

Is this ad missing anything important? This is the one I am going to place this coming Sunday. STOP RENTING, START OWNING!!!! RENT TO OWN!!! Low down, No qual, 1500 sq ft, 2 BR condo, Pewaukee $1200/mo (XXX)XXX-XXXX (I don't know if they put the /mo, I will have to make sure) but say they have only $1200, is it really a big deal? I wanted to change the wording in this ad since it is my third attempt to advertise in the same exact paper. I tried a variation of sections. First this renting/housing sale, which is a separate section, next the homes for sale section, and now this renting/housing sale again. This is the one that got the best response rate. Well, let me know what you think about the above ad. It's from Michael's manual, but not all important info is in there because it gets too expensive. I'm already paying 55 dollars just for the above ad.

I just e-mailed the seller to ask if I shouldn't place the ad for 100 per month cheaper. 1200, instead of 1300. I think we will get more responses that way. We'll see what he says about that.

Thank you for the words of encouragement Michael R. They mean a lot to me.

Well guys, Velma took me on one hell of a ride for the past month. The ride is over. She was supposed to call me yesterday afternoon at 4 to give me a final yes or no decision. She never did. She called at 830, and said she had been tied up at work. Fine, no biggie. She said she was at the condo, driving around the neighborhood, trying to make a decision, and that she would call me at 10. I once again expained to her that if the only con she could think of was the commute, then she should go for it. She would be building equity, she wouldn't be wasting ALL of her money on rent, only spending half on rent, and half toward the purchase price, etc, etc. I even did the exact math for her, and told her what she would be going to the bank for in a year. She told me she was leaning towards taking the place, but she needed a little more time. She said that if I didn't hear from her by 10 to call her. So, I did, I was tired at 10, and wanted to be done with this. I call her, and she is in tears, saying she had really wanted to make a decision, but can't, and she had wanted to get a hold of her friend to ask him some things, but couldn't. I asked what specifically she wanted to ask him, and she said , about rent to own scenarios, because she had never done this before. I told her it is a rather straightforward process, and I explained it ONCE AGAIN. She started bitching about the rent credits and can you believe that she tried to say that I had mislead her???????? She was supposably under the impression that the rent credits would be set aside for her (by the seller), and given back to her at the end of the year to be used as her down payment. I don't know where she got this idea, because honestly I didn't even give her the "forced savings account" analogy from the getgo. I used that with the second prospect, and he actually snapped on me and told me, "I don't need anyone to tell ME how to save money!!!" Anyway, my point is, I never even told her that, I always told her the rent credits come off of the purchase price. She went on and argued with me for like 20 minutes. She said, "How can you expect anyone to pay $1200 per month, and still come up with a 20% down payment at the end of the year?" That was her main argument, and I responded for way too long because it was useless. She said that if I had explained it better to her, she would not have even been interested ever. Now, I am not a foolish woman, and I know I explained it to her several times, so I refuse to let her deceive me in any way ANYMORE! So, I am back to square one. I have been marketing the property for a little over a month now, and paid over $150. I pray that I find someone suitable soon. I am going to put another ad in the paper. I am going to buy a CHEAP sign and put it somewhere. I have to go to some local universities and post fliers. I don't know what else I can do.

You are right, I have maybe made 20 calls in the last week. But, two weeks ago I made like 100 in one day. So, I will get moving. I also have to get professional business cards made yet. I don't know if I may be moving within the next few months, so I don't want to get them made with the wrong address and phone number, but we'll see. For now, I DO have some homemade ones to hand out. I am trying not to let doubts settle in, but it's hard when my husband is stressed because he feels financially inadequate, and then he tells me to get a job. But i KNOW I can make it in this business because I have the determination, and I love hard work. So, I will get on the phone every day, just like I was before, and get to work.

Okay, I KNEW it!! Someone stole my sign. I had it up on the main road in front of my available condo, and I haven't received any calls for quite a few days. I called a nearby complex, and the lady says she did notice the sign, but now it is gone. She told me how someone stole one of her signs before, and how mad she was about that. Don't people have anything better to do?? I asked the seller if he could get me the numbers of the nearby complexes, (there are two others), and he said he will try, but he doesn't know. I looked in the online pages, and can't find the names, but anyway someone probably stole it for the h frame. That wasn't cheap! And I wouldn't be so upset, but VELMA, the woman I am dealing with, was supposed to meet me today and give me some option money with a completed app,and she backed out. She says she will give me a yes or no by no later than tomorrow around this time. She can't decide if she wants to commute an hour each day. I was firm with her, don't get me wrong. I was first of all telling her that if the only con she could think of was a commute, she should go for it, because obviously owning a home is better than renting. She was like, "well i won't actually own it for another year." I then had to go into the whole speal about rent credits and building equity, and I swear this woman is like a child. But that's okay, I told her that the seller says she can do whatever she wants to the place, paint walls, decorate, whatever, because it IS hers once she commits to this. So, I am giving her 24 hours to make a firm decision, and then we will either be at square one (MINUS A SIGN) , or we will have a done deal. Wish me luck, I certainly need it. I AM just about broke now, and I DO need to get paid in order to market myself. And I WILL be hurting if I have to continue marketing this property. I suppose this is sort of a test. If I don't get paid now, and can't afford to continue marketing this property, I have to get a JOB. I can't believe this is true, though. I think this is the lowest I will be in this business. I hope. Keep all your fingers crossed.

As long as the woman follows through, I have agreed with the seller that I will take 1200. Hey, every hundred helps! Wish me luck guys!

I assume you mean for me to tell her it's hers as long as her application checks out.......she hasn't given me one yet.

Thanks Michael. What would I do without you?

Okay, Mr. Saint, and everyone, Would you get to the nearest door if you were only going to make a grand from this deal? I mean, it is only my first deal, and the seller wants to close it fast. He seems to like her, and want her in his place. I have yet to check her credit, because she refuses to fax me the app. She says she doesn't want to transmit her info over a fax. She called awhile ago and says that she is still interested, but she doesn't know if she wants to commute. I think she doesn't care too much either way, whether I rent it to someone else or not, but she wants to make sure it is still available if SHE wants it. She told me to keep her posted, because I followed Michael's advice and told her that I had some interested parties that want to get the process rolling. She says, okay, well let me know if it works out or not. She can move anytime because she is on a month to month, so she doesn't really care when. I figure I will call her in a few days, tell her that I have a deposit, and need her app asap if she wants a chance to get in the place. She is simply confused, and I don't think she is a bad person. Just confused.

Thanks guys. Good advice. I hope I do the right thing.

Thank you Michael for your advice in my previous post. I know I will get better at negotiating all of this stuff as I do it more and more, but for now, I stink. Do you advise me to e-mail the seller(that is how we have been corresponding while he is at work), and ask him if it is okay that I take the option money as my fee and he keep his 200 per month cash flow? She is obviously going to try and take whatever she can from us. She wants the purchase price lowered, the monthly rent lowered, (which we agreed to do), and now the option money minimal. So, then again, I don't even know if the seller will have a$200 per month cash flow, but even if he has $100, that is still $1200 extra for the year. And I would keep the $1000 up front. I mean , I am not trying to be greedy here, but $500 won't cut it. So, how can I put it to him, politely?

Here's the thing, this woman has been the only really interested person, and we have been at this for a month now. The seller wants his place moved, and he says he cna understand if she doesn't have 3 grand to put down now. But........She hasn't returned an app to me in the month I have been dealing with her, she has only 1 to 2 grand to put down. She plays games. So, how can I best deal with her and the seller? I gotta get paid, you all know this. I have spent a lot of time, money and energy on this, and now he is saying ,, just get her in there, who cares about the option money, take what she will give you. Should i suggest that then I keep ALL of the option money, and he keep the cash flow? I will get around 1 or two grand then, and he will get 1200-2400. Thanks. This is stressful.

Hey Michael, The seller told me to negotiate with this woman in order to get the property off of his hands. He told me that if she doesn't have the 3000 to put down, take what she does have,and then make the purchase price higher, along with the monthly rent. She told me two weeks ago that she can only put down like 1 or two grand. She said 1300 a month is a little steep, and we agreed on 1200, which would leave no cash flow for me. So, if you follow, what would you do? I AM working for the seller, and he is saying negotiate the most to get her in there. I suppose this means I shouldn't tell her that we have another offer pending???