Adam King (MI) 1 Report post Posted July 8, 2004 Gary,Ah...now it all makes sense. I.e. $50K houses. You can still move them just the same. But just remember, 5% of $50K is $2,500.00. I think with little down, you should be able to get some good cash-flow. That seems to work on the cheaper houses. Either way, doesn't it feel good to say that you at least have one? Cool stuff,Adam Share this post Link to post Share on other sites
Gary (MO) 0 Report post Posted July 8, 2004 Adam, I posted about this in another forum. Quite a "first" deal for me! Although I didn't profit - yet, I sure learned a ton! Although the "old" me would have been discouraged, strangely enough, I'm looking forward to getting back in the game..."older and a little wiser" Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 8, 2004 8 more to go.And yes Pete, I negotiated to take the full option this time. Regards,Adam Share this post Link to post Share on other sites
Golflover 0 Report post Posted July 8, 2004 Adam, How do you go about finding the right broker to help you out? What kind of questions did you ask them? I would really like a friend like that to work with me. Also, what exactly does a broker do for you besides getting you free credit checks? How do they benefit us as investors? Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 9, 2004 Golflover, How do you go about finding the right broker to help you out? What kind of questions did you ask them? I would really like a friend like that to work with me. It, ain't easy finding the right broker. Most of them say they can do everything, and few can do anything. I simply "kind of" interview them. I tell them what I do and ask how they can help. I use different ones for different acquisitions. Michelle is my LO broker and I have others for flips, straight buys etc. Also, what exactly does a broker do for you besides getting you free credit checks? How do they benefit us as investors? Broker's don't give me free credit checks, they fill an integral part of my business. They help getting my buyers financed and give me major credibility with my LO programs. Michelle (My favorite broker) actually negotiated a CA for me TWICE! I sat there and watched her close it on the phone just by saying what her part in the acquisition was. That's powerful stuff.Regards,Adam Share this post Link to post Share on other sites
Golflover 0 Report post Posted July 9, 2004 Adam, Earlier in your post you said that you set up an appointment for them to fill out a credit app. Where do you normally meet them? Resturant? Their home/apt? Street corner? Also, if they request it over the mail or fax im sure they may not be totally motivated, but, if they dont have the time to meet up, do you have a PO box set up to receive the credit app back with the app fee? Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 10, 2004 Golflover, Earlier in your post you said that you set up an appointment for them to fill out a credit app. Where do you normally meet them? Resturant? Their home/apt? Street corner? Yes, yes and yes. I don't have them meet me, I GO TO THEM! People are so feeble nowadays. I don't like to waste my time. Also, if they request it over the mail or fax im sure they may not be totally motivated, but, if they dont have the time to meet up, do you have a PO box set up to receive the credit app back with the app fee? Yeah, like that works.... I've done that until I'm blue in the face to this day have only received a couple of checks. I want MOTIVATED BUYERS! The kind that say; YES! AWESOME! WE CAN'T WAIT FOR YOU TO COME OVER AND SIGN US UP!!!! Otherwise I don't waste my time. I don't tell them anything over the phone, I get an appointment and that's that. If they aren't motivated, I can tell and I move on to the other people who are.Regards,Adam Share this post Link to post Share on other sites
