mamasanta25

Well...........the people I am meeting with tonight have one, and they want to rent to own it.

If a potential t/b has a pre-approval letter, should I still run a credit check on them? (Since it isn't generally good to keep checking one's credit).

Okay, well how would YOU approach the homeowner in this particular situation? We have the condo listed at 147,000, it was marked up for the terms we are offering. The fair market value is around 139,000. Would I have to go to an attorney and have a specific contract written up to secure my place in the deal? I would ask for at least 2500.

That would definitely be helpful. Thanks

This weekend I had three messages about my ad in the paper about the condo available. Two of the people simply wanted to buy the condo outright. Now. They asked why the seller wouldn't want to sell it right now. I said I think he simply wants to hang onto it for awhile, possible collect a little cash. I mentioned that he was going to simply rent it out, but that he decided to go this route. What should I tell people who want to buy it now, and what are the seller's reasons?

Okay, feel really guilty that I am leaving town this weekend. I am going to try to be back Sunday, when I should get the most calls, but still. You know, I just feel like I will be letting the homeowner down by not being here all weekend and waiting on these potential tenant buyers. But I know I have to relax, because I will check messages and can always set up appointments for next week. People may not want to do business on Mother's Day anyway.. Well, maybe if I am gone I WILL get an excessive amount of phone calls. That would be a good problem to have I suppose.

Thanks for the suggestions. I am going out of town this weekend, but I am ordering a sign today and I will put it up first thing next week. I am also finally getting decent business cards made since I now have a fax number. I really don't want to leave town this weekend, seeing how I just put another ad in the paper yesterday, which will run till Sunday AND I have final exams to study for, but there is no way out. I have to go. One good thing is that I just got voicemail on my line, and I can check messages, and hopefully return some calls and set up show times for next week. As for fliers, I can do that when I go next week, it is a drive, but I can drive around and see where I can put fliers. Thanks again all. Samantha

Michael, you are right, there is nothing left to discuss. She told ME she would call with a yes or a no. She hasn't called. I simply KNOW she is waiting for me to call, because she is an immature game player. I certainly have learned a great deal from this first experience. I am stronger and wiser now.

Thank you for all of your responses. I will order a sign asap. I have confidence that the ad will bring in quite a few more calls, but I need to move this property. Nick, I don't have a set time frame to move the property, but the sooner the better. Thanks again.

Okay, I have been dealing with a potential tenant buyer woman who is a pure game player. My question is, is it poor customer service for me NOT to call her to follow up? (Follow up to see whether or not she wants the place, Even though I won't accept her anyway unless she can come up with an acceptable amount of option money.) Last we spoke on Sunday AT the condo, she said she would make a decision within two days as to whether or not she wanted the place. I know she is waiting for me to call HER, but I told her Sunday that I would wait for her call. I don't want to play games, and I don't want to provide poor customer service.

What is the longest period of time any of you have had a property you were marketing for a t/b? I have had one for around 3 1/2 weeks now, and I am getting nervous. I have only run the ad in the paper one time, and it is going to be back in the paper for four consecutive days beginning Thursday. (I don't have a lot of marketing funds, so I was taking it slow and seeing if two potential buyers were serious.) I am assumming they are not, since I have not heard from either one of them for a few days. Anyway, I will buy a sign next week if I need to. I am hoping to close the deal first. (Again because of finances.) I realize investing in a sign is wise anyway, but I only want to do what I HAVE TO for now. Hey, I am getting the urge to pour a few adult beverages, just a little nervous that I won't move the property quick enough.

Okay, yesterday I made about 75 calls. One of the last homeowners I spoke to wanted to hear more about what I was talking about. Then he goes, "Oh, yeah, I know what you are doing, you watch those late night infomercials, and try to get people's homes for no money down." I explained that my company actually tries to be a matchmaker between homeowners who need my help and people who want to be homeowners. He said, "Oh, yeah, I know, I have gotten several calls from you people, I am not interested." On to the nextttttttt..........................

great advice, Michael. I will use it.

Hello, What happened with the other interested party is that he had to drive to Michigan this weekend to pick up his wife, and he will tell her about the condo. He says he is interested, but she has to see it first. So, hopefully this week I will show it to them, and close a deal. The guy said he tried to fax me his app. I JUST got a fax machine Friday. I hope it is hooked up correctly. We have it hooked up to the back of my computer tower, and it rings when my phone rings, but I never received his fax. If anything, I will get his app when I see him next time. Michael, one more thing, what is a polite way to tell the lady that she can't get into the place? Should I just say "3000 firm for a down, take it or leave it."

I have also been thinking of reading up on subject to deals. Michael, you should create a manual explaining that, I would like to buy one somewhere when I have money, because I have talked to people who buy homes subject to ,and then l/p them, and it works rather well. I just don't know how. By the way, that lady is still b/sing. Today she told me she could only come up with 1000.00 to get into the condo. Forget her.

Hey Jeff, Please don't take what I wrote the wrong way. I am not one to make fun of others. I was just being a motor mouth. The girl wasn't even actually stuttering, but you could certainly tell she was reading from the script, and I was making a point that if I were to record myself and pay for an 866 number, I would make sure it sounded good. Anyway, thanks for your words. You go get 'em too Jeff

lol michael, thanks.

YYou've got it going now, Sammy

Thanks guys. I do NOT have an aggressive marketing campaign as of yet, because I am waiting for my funds to grow, and invest money into my business, but it shouldn't be long. I will run a consistent ad in at least two papers over here, the AAA credit/references one, to get sellers to call. I will hire bird dogs, etc. Well, I sure hope I can have this much energy every day for this business. I feel like I can conquer the world todayYou've got it going now, Sammy!i

Hey, whoa, all of the sudden there are like 20 ads in the paper by investors doing what I am. I know Michael says it doesn't matter how much competition one has, but this area isn't all that big. I called one 866 number, and they are using the script from resultsnow.com. The girl was stuttering though, HAHA< I wouldn't be. Well, Michael, I know what I have to do get those business cards handed out,a nd call call call. Maybe while those people are waiting for calls from the ad, they aren't calling people all day long like I am. Well, reassure me everyone, there are still plenty of deals out there for me, right?

One more thing. LEt's say this guy who I am showing the place wants it right now. Am I obligated to wait to hear from this woman and her decision, since she was here first? AND, for down the road, if I don't have a business account set up yet, do I have to get one asap? OR can I have her make a cashier's check to my personal name? Thanks all.

A quick update. She called me last night at 9 pm. She said she didn't have my number all day, and was hoping I would have called her, but I didn't, she tells me. First of all, the way we left things yesterday morning, she told me she would call ME when she made a decision about the option money. So, she is a game player. She told me she will DEFINITELY make a decision by today. She told me to call her when I can. I told her I will be showing the property, but I will call her when I return. She got a little hyper when I mentioned I will be showing the place. She says she just needs to figure out a few things. I assume she is referring to finances. She still hasn't gotten the application to me, but I am getting a fax machine today, so this will be better. People don't like to fax their apps to the local office max. At least not around here. So, wish me luck. So, I will keep you all posted.

I just want to really give my thanks and appreciation to Michael, and to this forum. This is absolutely invaluable, and I feel very lucky to have met all of you. All of us who are starting out need all the support and guidance we can get, and we have that here on this forum. Much success to us all!!! Samantha

Okay, this one is for you Michael. Just to clear my head and anxiety a bit, can you advise me on how to regain control of my current situation with this woman t/b? I know you said I have to put pressure on her, and that is one way. Maybe that's the only way. I set myself up to be very vulnerable here, and I am not liking it one bit. Okay, another way may be to tell her, the seller will not accept any less that 3 grand to put down, so if she comes back to me and says 2500, I say no. Well, I won't be feeling this pain too much longer, I have to get over it and move on.