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Doug Pretorius (ON)

Creative Challenge

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Everyone frustrated with not getting deals done, listen up!

 

Adam has accepted my challenge to do a creative deal here in my city. I will provide him with seller and landlord contacts (straight from FSBO/FRBO ads and signs) and do whatever legwork he needs done locally.

 

I'm stating right upfront that if he succeeds I will humbly apologize to everyone for having doubted that it's possible to do these deals here, and I'll then get to work duplicating his success.

 

Adam, should we place a timelimit, just how confident are you? :)

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I really don't think Adam needs a timelimit placed on him! He's been pretty sucessful, shares a wealth of knowledge, and really does'nt need to prove anything.

 

I hope you two get a deal done. In my eyes, both win the challenge if a deal is done - but mostly for you Doug.

 

GOOD LUCK and keep us posted!

 

Todd

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Sometimes you need actual, physical evidence to show you that something is real and possible.

 

Hopefully after your brief challenge is over with, we'll be hearing you post of deals done, rather than none happenin' :D

 

Best to ya!

 

 

 

P.S. I'll go ahead and accept your apology, Doug. :):)

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Gary,

Testicular hypertrophy in action

Now that's funny! :D

 

Todd,

He's been pretty sucessful, shares a wealth of knowledge, and really does'nt need to prove anything.

That's not quite what I meant, I just didn't want things to go on an on, there should be some sort of timeframe.

 

Jason,

P.S. I'll go ahead and accept your apology, Doug.

Thank you, I really appreciate that, I know I can always count on you! :) :)

 

Hopefully after your brief challenge is over with, we'll be hearing you post of deals done, rather than none happenin'

Amen!

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Doug,

If you have some sellers calling you now, let's make the challenge to land a deal by the end of the other challenge. (August 1st) That gives us two weeks to get something under contract.

Check the "everything else" section for the outline of what we're trying to accomplish. I can get it under contract, but it will be up to you to move it. Of course I will be helping with that too, but that's the part where it's a lot easier to get done by being there in person.

Let's get rockin,

Adam

PS

Testicular hypertrophy in action

Oh my God Gary, that was funny! :)

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Great! :)

 

I had agreed to do this with Doug. It is far better that Adam do it; he has a track record and I need to become competant in my own area, where I am finding I can get results, even if outside the town.

 

This will be very informative to all of us. I'm looking forward to seeing results. :D

 

As I fold, mutilate, and spindle my first seller, Adam's success will remind me how very possible it is to do this business!

 

Go for it Adam!!!! :)

 

Alice

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Update.

 

Doug gave me several numbers to call that were FSBOs and FRBOs. I called and got through to a few of them. Before I get to the results, I just want to say there's always a jerk in the bunch, but most of the people were amazingly friendly. I had two of them actually return my call and leave a message on my phone. (After hearing it was an investor they were calling)

 

The results from the people were this:

 

1. 501-XXXX $192,900 asking but wants $189,000.00 as his bottom line. Before I could say anything he said that if I was any kind of real estate person, he’s not interested. I told him it was in his best interested to hear what I had to say. We talked until "I" hung up.

 

2. 843-XXXX Duplex $200K asking. Worth $220-$240 with no work. Listed at $205K. $2000 a month income for two units. Can get 3 to 4% loan and make good money. Didn't want to push, but very interested in what I had to say. Call back by tomorrow this time. Make an offer on the duplex and get in with his rentals. Get this guy to like you and you may be able to do terms. He’s cool, but needs to get to know me so he can trust me. (He said). Doug could take a straight option and flip it to another investor or work out a short-term cash offer. Sounds like a good deal for passive income.

 

3. Richard. This guy was very nice. I told him what Doug and I were doing and he offered to have him come over to gain a little more experience talking with a seller. I was blown away by his offer. He may be able to be persuaded into some kind of creative deal.

 

We have a lot more to call tomorrow.

Regards,

Adam

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Gary,

No problem. Didn't make any new calls today, got too busy with my stuff. I'll hit it again for a half hour or so.

Regards,

Adam

PS Buying another car tomorrow.....sheesh, can you believe this guy!? ^_^

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Doug and Adam:

 

This may be the best thread I have seen on this board or any other. I congratulate both of you on your willingness to work together and to share this experience with the rest of us. As Gary said many of us are watching. I think many may have been interested in the "challenge" that was presented and accepted. I don't think this is a challenge that is won or lost. I for one, am watching in admiration of the process.

 

Respectfully,

 

Gene

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Gene,

Thanks. We should have this going in full swing "hopefully" by the weekend. I have been seriously busy and haven't even talked to Doug over the phone yet. I will do my best to put in a lot of time over the weekend too. I'll keep everyone posted.

Regards,

Adam

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We're getting the team built. Doug gave me the names and numbers to some local investors that can help. The seller for the duplex has also been contacted and is willing to talk.

I'll keep ya's all posted.

Adam

PS Just for the record, I have spent about 1 hour (or a little more) so far on the whole thing and I will keep a record of the amount of time it takes to get the team built and a contract signed.

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I'd just like to add how shocked Adam is with the attitude of sellers here. Just like I've been saying...no matter how desperate their situation is, they will not do a creative deal, not even something as tantalizing as a CA.

 

BTW, Adam, the sellers who have called on my marketing are exactly the same as the FSBO/FRBOs you talked to. It makes no difference whether you call them or they call you, their heads are the same distance up their A$$!

 

On to doing deals the old fashioned way!

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Hey Doug - What's going on? There is a HUGE difference in the tone between Adam's post, about 5 hours before, and your post.

 

Adam's saying he's going to track his time spent talking to sellers, he's saying he's getting a team built and he's saying he has a seller who wants to talk...and you're saying basically that you two are dead in the water and you're giving up?

 

On to doing deals the old fashioned way!

I don't get it? Bad day?:(

Gary

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