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About Steve

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    Making Calls
  1. This sign I'm using is huge, 8 feet by 10 feet in a high traffic area. The guy who does the signs in the area also tells me that I should be able to get away with putting up bandit signs on Friday and taking them down Sunday, but I shouldn't expect to have them up very long come Monday. He's going to ask his grandkid if he's interested to do that work.
  2. I'm trying something a little different. I have an investor with about 15 townhomes he's looking to sell as RTO. He wants me to do the marketing, and is paying me a referral fee for each buyer I get. He's not doing any of his own advertising, so I don't have any competition. He's paying me 2k for each TB I can bring him, and the best part is since this isn't a CA, I don't even have to show these people the homes, just pre-qualify them! Anyway, I know the town they're in is extremely strict on signs, I drove around, and there are none! Somebody suggested that I advertise using the mobile signs, so starting Monday I have a mobile sign going up in a great high traffic area. The problem is that since I don't have any property to put the sign, I had to find a business owner to let me use their property. The whole thing is costing 200/week (includes sign, permit, and land rental) which is the same cost to advertise in the newspapers. I'll keep everyone posted on the results of this campaign. At least now I don't have to worry about the sign police, and driving 45 minutes to put out signs in the middle of the night. Steve
  3. Doug, It's quite disheartening to see the one person who got me involved in creative real estate is calling it quits. You convinced me that this does work up hear, and I did hammer out a deal. Yes our market is tougher to make things happen, but that doesn't mean it's impossible. Keep your eyes open for possibilities, and not just CA's. I found a distressed owner whose dumping a 13 unit building and we're getting a 100k in equity. The person I'm assigning to is going through the appraisal process right now. If everything checks out, then there;s a fat $8500 cheque waiting for me at closing. This owner has another property as well he's given to me, and I've think I've got another buyer as well, not as much equity, but a 5k assignment fee. I've got these deals and buyers through networking at the club I go to, and I'd probably be in your mind frame as well if I didn't have these people to support me. There are lots of people there doing assignments, L/O, rehabs, and other no money down strategies. There's another meeting on Wednesday Doug, I want to see you there, e-mail me and I'll give you the details. Steve
  4. Poker is right, us Canadians are a conservative bunch, and are scared away by something we don't understand. It's our job to help these sellers understand the benefits we're offering, but as soon as they talk to their neighbour or plumber, or whoever, that person will say that it seems kind of fishy, and you should stay away from it. It's definitely a fear factor, I called a FRBO the other day and he told me he was "very motivated" but didn't want to do a RTO, even though he told me he would sell in two years?? I can sympathize with Doug, in that it's very frustrating dealing with sellers up here. Maybe our water not as pure as I thought Steve
  5. what if the piece of wood is in the middle not at the bottom, and we put a hinge on it so it can fold up, and keep the wooden stakes in the 4 corners? It's just a matter of figuring what you're going to attach the middle piece of wood to? /--\
  6. Us Canadians must think alike! I was dreaming up idea for this as well. I was thinking of using step stakes through the bottom, but that's probably not enough of a base if you're putting them on pavement. It might work if you have ground or snow to put them in though. We might be better off using wooden stakes at the bottom, and tying the signs together at the top using cable ties. I'm going to give this a go next time I have an open house. Steve
  7. Rob, I've put an ad in the paper for my CA and I think I've had about 4 calls as well. However, I did have 80 people call and leave messages from my bandit signs. My city is starting to crack down on the signs though, I don't see too many signs up anymore, and they come down pretty quick after they're up. I'm putting out my signs on weekends now, and am taking them down sunday night. I only had one of my signs removed over the weekend, but the signs I forgot to take down Sunday were gone by Monday afternoon. Most of my calls have been tire kickers, and the people who have money to put down are already homeowners, so they're much more picky. I've got another showing tonight, so hopefully I can get a signed application. Steve
  8. Steve

    2nd CA

    Just signed up my second CA the other night! Been working on my marketing efforts the last few days, and doing an open house this weekend. Unfortunately it's not an exclusive agreement, but the way I look at the issue, it gives me an opportunity to build my database if this agreement does get cancelled. I get sellers very interested when I bring out my phone books of everyone whose called me looking for an RTO, quite a powerful prop. Anyway, here are the numbers Detached bungalow, 4 bed 2 bath, finished basement, large lot, 1811 sq ft. $1900.00/month ($500.00 rent credit) $405,500.00 (two years) $10,000.00-$15,000.00 deposit (hopefully) It's been recently renovated, so it shows quite well too. I'll keep everyone updated, Steve
  9. Bev, I love it how you make the landlord think it was there idea to do a rent to own! Beauty and Brains, there's never been a more lethal combination! Steve
  10. I think he means that sellers want to keep their options open, so if they get an offer from another buyer before we can put a TB in the house, then they can take that offer. I would always prefer to have an exclusive options as well, but if it 's the difference between signing up a CA or not, then I'll give the sellers an out. Obviously for one reason or another their marketing isn't working or their numbers are wrong, so they can keep advertising, chances are, with our aggressive marketing, and creative financing, we'll be able to find someone faster. Plus it gives you even more incentive to fill the house sooner. I'm about to sign another CA with a seller, and the only sticking point is he wants an out if he finds someone first. If the seller does want a cancellation agreement, try to get a cancellation fee for your contract, something that would reflect your time and marketing costs. Steve
  11. Jeff, the numbers don't work for a SLO, another situation where a seller doesn't want to give up his equity or future appreciation. He said he would call me today, but nothing so far, if he doesn't get back to me, I'll try again in a couple of days. Steve
  12. Hi, I contacted a homeowner who had a house for rent, and this is an out of town owner, who has a cousin acting on his interests and has power of attorney. I spoke with the cousin, whose interested in CA, and I was supposed to meet with him last week. I called to confirm the appointment, but he was in the hospital with his mother, apparently she had a brain hemmorage and is in critical condition. I told him I would call back in a week. I just got off the phone with him, and asked about his mom, and he tells me she's grave condition. I don't want to keep calling this guy because he's got more pressing issues than me, but I also don't want lose contact with him cause this might be a good deal for a CA. Any suggestions on how I go about this in a tasteful manner? From the sounds of things, I don't think his mom is going to make it, and they've been talking to realtors as well, so time is important, and I don't want him to list it just because that's an easier thing to do. I also don't want to turn into a pit bull salesman, and put the pressure on, given his situation. Steve
  13. Craig, Great job signing up the inn! What's your exit strategy, are you looking to assign, double close or even buy it yourself? Steve
  14. Doug, This is the guy I told you whose about 20km north of Orangeville, whose got a vacant place in Scarborugh. That's close to a 2 hour drive for him, so I don't think he wants this info to go it alone. I'll just fax him a summary of what we discussed already and take it from there, maybe he's more a visual learner and needs to see numbers in front of him. Steve
  15. Hi, Does anybody have some information I can fax to a owner? I've been deaing with the owner's son, the owner is an elderly man (90) whose moved out with his son. I sent them the lease purchase advantage, but he wants something more detailed that gets into the nuts and bolts. Normally, I'd set up a meeting, but he lives about an hour and a half from me. I explained everything on the phone, but he wants something on paper that he can show his dad. If anyone has something they use I would appreciate if you can share it with the forum, if not, I'll just be sending him some made up numbers. I'm still not exactly sure what this guys wants anyway. Thanks Steve
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