shane

Hey everyone, This is my site, my original plan was to have it work just locally here in Winnipeg, but if anyone here wants to use it, please feel free. It's listed on all the big search engines, plus you can use it in conjunction with your regular marketing strategy to show potential buyers, renters and tenant/buyers. When you make a listing on the site it will give you a listing number that you can advertise to draw people directly to your property. Again, It's entirely free. www.yourhomechoices.com So, check it out and if you want, I'm alway looking for feedback. Shane

Hey everyone, I was just given notice by my tenant buyers a little over a year into a 2 year lease purchase agreement that they want to pack up and move out. They realize they signed a contract and are aware that they are forfeiting all their rights under the agreement. The reason, they can't stand their neighbor. My question is, should I be getting them to sign anything, like a cancellation agreement, or something along those lines to avoid any conflicts in the future? I'm not sure what standard procedure is to cancel a L/O. Thanks Shane

Hey everyone, I was just given notice by my tenant buyers a little over a year into a 2 year lease purchase agreement that they want to pack up and move out. They realize they signed a contract and are aware that they are forfeiting all their rights under the agreement. The reason, they can't stand their neighbor. My question is, should I be getting them to sign anything, like a cancellation agreement, or something along those lines to avoid any conflicts in the future? I'm not sure what standard procedure is to cancel a L/O. P.S. check out my free real estate listings website: www.yourhomechoices.com Everyone including realtors, landlords, property managers and private sellers are free to use it. Feedback for my site is appreciated too. Shane

I had a guy from Alabama contact me from an ad I had on Craigslist. He has a house that he wants to sell. I'm up in Canada and really have no interest in doing a deal in Alabama. I know the house is 3 bedrooms, 1.5 bath, and average condition. He said he asking $17,000 and the house would appraise at $22,000. If anyone is interested let me know and I'll give you more information. Shane

I was at a seminar yesterday and the speaker was Blair Singer of RDPD advisor series "sales dogs". Needless to say it was all about sales. He said it plain and simple, that we don't get rejected, we get objected. If you can come back with an acknowlegdement of their objection and then ask them a question (he who asks the questions is in control of the conversation), you'll fair much better. However, like anything it takes practice. You need to train your brain to think quick and act fast to their objections. We actually did some role playing with some objections like "I'll need to talk it over with my wife", "I've seen it cheaper elsewhere" and so on... We all have a pretty good idea of the sellers are going to say so if you can at least prepare yourself for it and have a decent rebutle you'll feel much more confident and maybe even strike a deal. Of course there are going to be sellers that you just won't be able to do anything, but at least you'll say something intelligent because you'll have confidence in your answer. Now, all I have to do is practice.

I like that too. I was talking to a seller yesterday that wanted me to come up with a whole business plan before he even discussed a C/A or L/O. Are you using this once you already have a prospect? Would something like that work as a mailer? Shane

Property was a dog, but the old man was great! Everthing I thought at first turned out to be exactly the opposite. The old guy was hardly intimidating with his baggy light blue pants held up by some falshy suspenders hanging a couple of inches from his sweet velcro shoes. No but seriously, he was a really nice guy. He said in 35 years of real estate he only got burned once and that was by the last guy that he helped out and held a 2nd mortgage for. Now he's trying to protect himself. As for the house, it was not nearly even close to what I thought it would be. It needed about $10k of work to get it up to par. Not something I want to get into. Actually that leads me to a question. Does anyone here do CA's on fixer uppers? Do you do any work on it before you move it? Let the T/B fix up some equity? Or totally avoid it altogether. Shane

I called FSBO sign I saw posted up in a window of a side street yesterday. The owner of the house is a "senior" is what he referred to himself as. He recently had a heart attack and wants to liquidate his RE holdings as they come available. He told me every dime he has to his name is currently held up in RE and he's worried due to his health condition. He seems to be a pretty sharp and defensive guy. He did mention that he would be willing to finance the property for many years (upwards of a whole amortization) but would prefer a cash sale. He is asking $88k, which to seemed like a great price! Its a side by side thats about 30 years old and still has the original furnace and hot water heater. Basement isn't finished and does not have a garage. I pulled some comps for the property. Unforetunatly there were only 3. The 2 most simalar properties sold for $104k in June and the other $97900 in March. Now right there it seems that I have an under valued property on my hands. I could be in a position to option it and assign it for a quick profit. (I'm going to view the property tomorrow, so I'll know exatly what condition its in) The problem is, like I said he's very defensive. He was burned by owner financing before so he wants to be able to "come after" me if anything goes wrong. He stated that a couple of times. I don't want to end up in a huge legal battle over a couple thousand dollars profit. Is it even worth my time to deal with this guy? Is he going to cause me problems? Oh yeah, the only advertising he is doing is in the window. Its only a small for sale sign thats barely visible from the street. (Its a good thing I'm always on the lookout for them!) If I should continue to try to make a deal, what is my best approach? Thanks Shane

I just got off the phone with a very interested FRBO if I can provide a T/B. She said she'll be interested to proceed with this if I can first find a T/B that is serious about buying L/O her place. She wanted me to e-mail her my contracts before we even signed anything, just to look over to know what she's getting into. It makes sense to me to want to do that. However, I declined as I've paid good money for these contracts and am not about to just give them away for her to use. At what point should I be letting the seller have a lawyer look the contracts over? She also wanted to know what the benefit of dealing with me were. I told her that I have experience doing this, I have a broker to qualify T/B, I have contracts made up and ready to go, and I'm free. Anything else I'm missing? I'm not sure this house will even be possible here. Its a very nice house in a very nice area. Our market here is vvery hot, but still very much behind other markets in Canada. It almost seems out of reach for people that would be interested in L/O a home. Although, it would be a nice pay day for me I have no T/B lined up, should I even bother getting and running applications before I have a house under contract? Sorry, I ask a lot of questions. Can anyone give me some feedback. Thanks Shane

Hi everyone, I'm wondering what everyones numbers are like for having the T/B actually go through and purchase the property at the end of the term. I have 1 house that I'm RTOing and am working with them to get financed. Only time will tell if my efforts will pay off. Is it common for them to fulfill the agreement? Thanks Shane

Wow! I knew I joined this forum for a reason. I just wish I hadn't waited so long. The support on this group is incredible. Thanks so much! I'm going to try to take all of your advice to heart! Its going to take a while and many calls before I feel good about doing it, but if thats what it takes I'm all over those calls! Michael and Craig you both said to start marketing to get my name out there, I'm wondering what you would recommend. Do I want something for everyone to see like signs or do I want something like flyers/postcards? Am I using the usual "We buy house!" because I've noticed a few signs like that in my area already. I don't want to be just another one one of those signs. I sure like the idea of people begging me to do deals on their houses! Doug, your pretty close when you said about 20, but I've been pretty bad for keeping track. I think it's actually a little more, maybe around 30. It's probably very important to keep track, but I'm not the most organized person. I've been scribbling the houses that I call out of comfree, but the others I've just been crumpling up the piece of paper I wrote it on and throwing it out. Any suggestions for keeping track? Gordon, I think I'm having Ben Stien syndom now that you mention it. I sound boring, monotone and uninterested. I'm going to have to make a consious effort to change that. I've been playing with my voice mail trying to sound more exciting, but I have a lot of work to do. I know I get excited every time I see that little phone and letter icon on my cell phone showing me that I missed a call. You're right I am doing the seller a favour, I'm calling them about the house they have for sale/rent and offering them a service. Thanks everyone. Shane

I've been making cold calls ever since Doug recommended them to me. Thanks for all the great help Doug!!! I'd be nowhere without you! The first few days of cold calls I had relatively good success calling FSBO's. I had 2 prospects from talking to 6 people. They turned out to be nothing, I can only assume, since I can't get ahold of them and they don't seem to want to return my messages. Since then, I've had absolutly no success at all. It reminds my of my days telemarketing for AT&T. I worked there for about 4 months (too long) and sold very few long distance plans! I'd make hundreds of calls in a night. My supervisor listened in on one of my calls and said I sounded as if my dog just died . I did not want to be there and it came out in my voice. Is the same thing happening here? I know I'm not as gifted as Bev at building rapport, but I don't think I'm that bad. I work at a bank and have fairly decent success pulling in more business by making cold calls. I've been trying what other people have tried on this forum, but still nothing. I still don't really feel confident making the calls. The seller can probably here the doubt in my voice. Is it what I'm saying, how I'm saying it, my tone of voice? Should I think about a the nice sunny beach I'll be laying on once I complete a couple of deals, of that I'll be able to quit my job in a couple of years ? How does everyone here make their calls? I need help!!!! Thanks Shane

I've been reading threads on this site all morning. I'm really impressed with all the information and how active it is. These are great forums! I've just recently started to get more serious about CA's and have been doing some cold calls. I've been calling FSBO's from the private sales magazing in my city called comfree. I've been consentrating on the older ones. I thought I had a couple of very interested sellers, but they haven't called me back I do still have one prospect, but he's waiting to see what kind of offers are going to be presented over the weekend. His house has been for sale for 3 months now and he's already dropped his price $30k. He told me to call Monday. I'll keep my fingers crossed. I've heard about your success with calling FSBO & FRBO Bev, I'm blown away! Thats incredible! I got shot down by 100% of my calls yesterday. I guess it can't get much worse right