BEV! 0 Report post Posted December 31, 2004 Waaaait a minute... BEV! are you saying you get the T/B to provide you with the 3 credit reports, the same way you have the seller provide you with comps?If so, you're a genius!!!Doug, Of course I have my requirements for the TB's as well as the sellers, otherwise, how can I tell the serious TB from the Curious ones? Has this technique worked for me? I think you know the answer to that one. (That explains why I never show my properties to more than 2 prospects quality TB's when I lease it out) I have a break-down number and requirements on each of my properties on word format that I send to serious prospects only via email, it includes the following... Requirements! - Picture of the house- Specs- Consideration Amount (if they don't have this amount, I move on)- Monthly Rent- Credits- Price Of Home at end of lease What To Bring With You. - 3 Credit Report Print-out (most of the TB's bring their own recent reports)- Letter of landlord or property management (on letterhead with contact info)- Letter from employers (on letterhead with contact info) If the TB is serious, he/she does NOT have a problem providing any of the above! Cheers! :xbiggrin: Share this post Link to post Share on other sites
BEV! 0 Report post Posted January 1, 2005 My FIRST post for the year 2005 Dear Diary! Interesting phone call I got last night.It was of course from a prospect TB very much interested in leasing one of the brand new homes. He has not seen them yet other than on pictures.We talked for about 1 hour or so (I guess he needed someone to talk to about his horrible/nasty divorce he was going through on this holidays) so I was there to listen and being the clown that I am, I cheered him up and gave him lots to laugh about Anyway, I emailed him the " Move-In Break Down" for the property.... and get this.. "he insisted in bringing the 2 cashier's check on Monday to close the deal on the spot when he comes to see the property!" I really don't know what to make out of this but heck he's bringing me everything I'm requesting from him (credit, letters, etc) and he added the cashier's check? I've had TB's bring a personal check to hold property before but NEVER a cashier's check to close the deal on the spot before viewing the property! But then again, he said he just wants to put all of this behind and move on with his life with a fresh new start right away. Oh, and by the way, the reason for us talking so much on the phone was because he just can't believe the terms on the RTO and wanted to know what the CATCH was! I kept telling him everything is on the break-down sheet, but he kept thinking it's just too good to be true hahahah!! He's still wondering where the "small print" is for him to read... there's no small print, sheesh We will just have to wait and see if this is real or not LOL! TONY, I agree with what you said 500% on the other thread... Motivated buyer no, opportunist yes, see these people know they can't buy a house right now. This is the only way they can get in to a house with the hopes of ownership. Amen! * This is almost as if someone is trying to put one on me from this board hehe Share this post Link to post Share on other sites
JCannon 0 Report post Posted January 2, 2005 Bev, on an average how many calls do you receive from potential T/B's for any given property? With the house I am trying to move at the moment I have been getting about one per day, on average, at the most. This doesn't seem like enough to simply say "if the price and terms don't work for you than have a nice day" I know my price and terms are great for my market but I haven't yet talked to a potential T/B that has understood this. Thanks and HAPPY NEW YEAR!!!!!!!!!! Share this post Link to post Share on other sites
BEV! 0 Report post Posted January 2, 2005 Bev, on an average how many calls do you receive from potential T/B's for any given property?JC,I purposely get about 1-3 calls from highly qualified TB per week! Purposely meaning that I intentionally put my option consideration amount on all my ads so I don't get swamped with calls. I have a family member advertising my page ad with all my properties in it on Craig's list on the hour all day 7 days a week! (lately, 90-99% of TB comes from Craig's List) I advertise only on cities within 1 - 2 hours away from where the properties are for the sole purpose that houses in those areas go for around $1M and up and here I have them for only $600K - $700K in a year from now AND brand new ones! If I advertise these properties locally I wouldn't have any completed deals at all! Here is what my TB's are telling me that they like about my terms (words I use in every advertisement online) - Brand New Homes- Available Immediately- Straight From The Builders- Absolutely NO Agents Nor Property Managements Involved!- Bad Credit Okay!- Try Before You Buy - Price Of Home- Option Consideration Amount Share this post Link to post Share on other sites
Sold ! 0 Report post Posted January 2, 2005 I've had TB's bring a personal check to hold property before but NEVER a cashier's check to close the deal on the spot before viewing the property! Bev, You are rocking on, girl ! QUESTION: How much money will "hold" the property and for how long? What To Bring With You. - 3 Credit Report Print-out (most of the TB's bring their own recent reports)- Letter of landlord or property management (on letterhead with contact info)- Letter from employers (on letterhead with contact info) Could you explain the last 2 for me? What are you asking him to bring you from the landlord.....a reference letter that he was a good tenant? Same question for his employer.......a letter stating he's worked there for 'x' amount of time, or what? And are you looking for credit reports from each of the 3 reporting bureaus? Curious minds want to know..... Share this post Link to post Share on other sites
BEV! 0 Report post Posted January 2, 2005 QUESTION: How much money will "hold" the property and for how long? I take the entire consideration amount on check to hold for only one week. I take entire "non refundable" consideration amount in a cashier's check to take the property off the market and hold property for one month (due to 30 days landlord notice)Could you explain the last 2 for me? What are you asking him to bring you from the landlord.....a reference letter that he was a good tenant? Yes, this is the most important peace of document I want from all TB's, the letter should state if they pay on time or not and how long they've been living there for, and anything about how well they maintained the property etc etc. (is up to the seller /builder if he wants to contact these places to verify)Same question for his employer.......a letter stating he's worked there for 'x' amount of time, or what? Yes, I just want to know if they are currently employed and for how long. (again, is up to the builder if he wants to call to verify)And are you looking for credit reports from each of the 3 reporting bureaus? Yes, but one or 2 is still fine as long as is current.After I gather all of these information I put it all together in a manila folder with a copy of the builder's cashier's check in it and I lable the folder with the TB's name, property address, and lease period dates and give it to builder/owner for him to file it away by "lease period date" Share this post Link to post Share on other sites
BEV! 0 Report post Posted January 4, 2005 Diary, We changed our Monday Appt to Saturday with the "too good to be true" person to close the deal of the new home on the spot... is really intriguing me now, I'm enjoying the journey.. but what if this person is really for reals? I have also been told by the builder that he'll be giving me two more referrals from others on another town... hopefully it won't happened until I move at least one more of his houses By the way, I just noticed that I'm only 2 deals away from reaching my SFI (six figure income) and have not reached my 6 months of REI biz as of yet but something tells me that I'll reach my SFI before reaching my 6 months experience To Be Continued...... Share this post Link to post Share on other sites
BEV! 0 Report post Posted January 13, 2005 Is it just me or is it really gett'n HOT in here Diary? Where do I start? Hmmm Okay, I just closed another deal on one of the brand new houses, this house was the ONE house that was killing the builder (totally bad loan), I won't go into too much numbers detail on this matter but the builder is so totally grateful for having taken care this headache for him ... the bad news (not really bad but...) is that after we finalized this deal this evening, he smiled and said that it was time to start building at least 3 more houses right away This puts me on a one more deal to go to reach my "Six Figure Mark" Income in less than 6 months! I do have one of the "fixer uppers" home deal pending as I type this, and if and when this goes through then my Mark will be met!!! Not sure but I think that'll be a record My profits on this deal I closed tonight is a fat cashier's check of $15K The TB came from Craig's List as always and my hard money lender dear friend of mine financed the $23K to the TB to make this deal happen (to move in) I am so grateful to my network of associates for being there for me when I need them More to come..... Share this post Link to post Share on other sites
BEV! 0 Report post Posted January 23, 2005 I'm such a bad gurl...... Oh No, wait! Wrong Diary Uhem.... okay let's try this again, here we go.... Dear Diary, I have some houses coming up and will put them under contract tomorrow Monday, one of the properties will be finished building by Feb 10 and I was supposed to have had it under contract a month ago but totally forgot about it, and got the call from the owner last night (past client, also a mtg broker/agent) so I'll be getting together with him tomorrow to sign, is a 5 bedrooms, 4 baths house with in-law room. If any of my Bay Area buddies here like to work on their CA skills let me know and let's move these properties send me a PM (the email function here is not very Bev friendly) or call my voicemail, I can think of two of you here locally that may be interested in earning some serious money while polishing your skills Share this post Link to post Share on other sites
BEV! 0 Report post Posted January 30, 2005 Diary My Amigo, Remember this............one of the properties will be finished building by Feb 10 and I was supposed to have had it under contract a month ago but totally forgot about it, and got the call from the owner last night (past client, also a mtg broker/agent) so I'll be getting together with him tomorrow to sign, is a 5 bedrooms, 4 baths house with in-law room.I finally put that property under contract last Tuesday which the owner after signing the agreements he doesn't even bother reading it anymore nor he wants to keep a copy, all he tells me is ..... "Bev, lemme just sign and do your stuff, no need to for me to go over anything.... gotta run bye" Anyway, 5 days later this house that's not even finished building I already locked a T/B for I showed it for the first time this morning to a police officer and she loved it, she provided me with all the docs (letter from landlord, 2 credit reports, letter from her employer) and a "personal" check for the full amount to move in which $15K of it is my consideration rewards She'll bring me the "Cashier's Check" next weekend and while this is not an official closed deal yet, is technically 99.9% the deal that if and when all turns out as planned, my six figure mark income will be met in just a few days!!!(darn I'm good!) Bring that bottle of champagne closer would you please Share this post Link to post Share on other sites
BEV! 0 Report post Posted February 15, 2005 I Found My Thrill, Diary Li'l story first about these brand new houses I've been doing CA for my clients.This town is run by Iran/India developers and business owners. All my clients (builders/landlords) are either from Iran or India and they're all like a HUGE family and know one another very well in the whole town.Last friday I got a call from a gentleman in NY and told me that he has a brand new house here in my town and that his best friend and biz associate had referred my name and phone number to him to RTO his property. The funny part is that I wasn't aware all my clients have given me a title name in town when referring me to other clients, when this person from NY called me last friday and asked me if I was the "Magical Woman" everyone is speaking so highly of? I didn't know what he meant until he explained that all my clients refered the "Magical Woman" to him for his property Anyway, I got this referral from NY, we met and signed the agreements via webcam and web phone on Sunday, I'll get the keys in a week and life goes on!! Magical Woman? Share this post Link to post Share on other sites
Hitman712sc 0 Report post Posted February 16, 2005 WOW!!!! SFI in less than 6 months..Very inspiring!!!! Took me a whole year to get my SFI. ....BEV!, let's have coffee. My treat . I just PM'ed you. BTW, I waved In addtion to my other offer; I'm willing to drive you. You won't be lost again, ever Share this post Link to post Share on other sites
Alan (NYC) 0 Report post Posted February 16, 2005 Hi Bev, Understanding you are in a different State and work a different city than I, how do you go about finding sellers to sign? Here in NYC metro area, there are plenty of motivated buyers, I'm having a hard time finding the homes to place them in. Yes, I'm calling FSBO and FRBO ads. I'm doing all the marketing I can. It seems this is a sellers market and most of the people I speak with want to straight sell. When I call them back in time, their house is sold. Any tricks other than the common marketing stategy commonly talked about on the forum? Thanks,Alan Share this post Link to post Share on other sites
BEV! 0 Report post Posted February 17, 2005 BEV!, let's have coffee. My treat .Funny you should mentione that, even though I'm not a coffee drinker, I always meet my clients and T/B at Starbucks, the aroma of both coffee and cinnamon attracts success (think about that one) In addtion to my other offer; I'm willing to drive you. You won't be lost again, everFunny you should mentione that too, I am not even suppose to be driving at all so I need a driver too ....how do you go about finding sellers to sign?I'll be very honest with you Alan, few months ago I focused on calling FRBO ONLY, I got 2 YES and those 2 were the ONLY clients I ever got on my own, then these 2 clients since then have been sending me referrals for months even out of State referrals as you can see (NY). From what all my referrals are telling me is that my past clients speak highly of my services, it really makes me feel very good about that because my good services are turning into MORE clients!All my referrals don't even think twice about signing the agreements and this last one I signed via webcam/webphone was the easiest and most cooperative one I have ever had... it gets easier and easier every time. Alan, keep calling... all you need is ONE client, that ONE client can turn into multiple referrals...I recommend CALLING and TALKING to prospects NOT emails! It seems this is a sellers market and most of the people I speak with want to straight sell.Same here in CA... that's why I focussed on calling FRBO ONLY!When I call them back in time, their house is sold.Same here in CA too! Houses sell before they even make it to the news-paper ad or in less than a week Yes, I'm calling FSBO and FRBO ads.If you've been putting at least 2 hrs per day calling and is been over 1 month and you still haven't gotten any prospects, chances are that maybe is something you are saying or NOT saying or maybe the way you are presenting the whole thing..If you wanna give me a try to critique your phone pitch lemme know Share this post Link to post Share on other sites
Hitman712sc 0 Report post Posted February 17, 2005 Funny you should mentione that, even though I'm not a coffee drinker, I always meet my clients and T/B at Starbucks, the aroma of both coffee and cinnamon attracts success (think about that one) Funny you should mentione that too, I am not even suppose to be driving at all so I need a driver too It's a date then Share this post Link to post Share on other sites
