<Steve> 82 Report post Posted October 8, 2009 Well I asume those 2 sellers we willing to take a look at your short offer. What is the issue that turned them negative? The other offer I will typically contact the seller in a day or two with an email or call asking if they received the short offer and if they have any questions. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted October 8, 2009 They just want more rent or consideration than I'm willing to pay, nothing special. And with the 3rd guy I'll do the same. In the meantime I'll go find some more interested sellers to shoot short offers to Share this post Link to post Share on other sites
jhanson8 0 Report post Posted October 8, 2009 I've been sending short offers first, but then the people mysteriously disappear... Most of the sellers around here are upside-down and don't want to accept that their home is worth $100k less than a few years ago. So, when I send out that initial offer they are hit with that cold dose of reality and move on to the next Realtor willing to list their home way over market. I just let them know that the offer is still on the table if they change their mind. Plus, I've started following up with the rental assistance thing that has been discussed on some other posts. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted October 8, 2009 I've started following up with the rental assistance thing that has been discussed on some other posts.Good. Because you're leaving money on the table otherwise.And by the way, a lot of these homeowners who can't accept the market reality today may very well be calling you in six months once they awaken from their dreamy slumber. Six months of no offers on their house will do that. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted October 8, 2009 So true, look at short offers like you blast emails. Get your offers out there some will respond now and others latter and some will not. Doug, give those SLO sellers a bit higher rent and CA them. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted October 8, 2009 Doug, give those SLO sellers a bit higher rent and CA them.Well if you're going to twist my arm I suppose $9k is better than nothing. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted October 8, 2009 Just got the reply, and oh yes that went over so well The only thing offering a CA with better numbers did, was make him even MORE greedy. Now he wants me to find him a cash buyer for $15k more than I originally offered, and he'll generously give me 1/6th of what I would have made on a SLO. Hmm, let me think about that one for a minute...oh wait what's this? 2500 other houses to choose from I told him that as an investor who works just 1 or 2 deals at a time I have to be very picky about where I spend my time, and searching for a cash buyer for a few thousand dollars just isn't worth it. However, my original offer to lease purchase his home stands if his efforts don't pan out. NEXT! Share this post Link to post Share on other sites
jhanson8 0 Report post Posted October 8, 2009 So true, look at short offers like you blast emails. Get your offers out there some will respond now and others latter and some will not.Just a little story from personal experience... I use to be too talky. I mean, I felt I had to sell myself to these sellers to convince them to work with me. What happened? Nothing. I would send several emails and eventually I would stop getting responses without ever getting anywhere. So, I decided to just start contacting people, and if they were interested initially I sent a short offer. Suddenly I was getting consistent responses. More than I could really handle at first. I was so focused on myself that I forgot about what the seller wants, which is a solution to their problem. They don't want to be sold, they want to know what you're prepared to do for them. That has changed my whole approach, as well as my success rate. Ok, that's it. Carry on. Share this post Link to post Share on other sites
randian 0 Report post Posted October 9, 2009 Just a little story from personal experience... I use to be too talky. I mean, I felt I had to sell myself to these sellers to convince them to work with me. What happened? Nothing. I would send several emails and eventually I would stop getting responses without ever getting anywhere.That's consistently what happens to me. Talk to them, answer some questions, tell them I'm sending an offer, and then they disappear. I can't figure it out, I'm never rude, disrespectful, or vulgar when talking to them.So, I decided to just start contacting people, and if they were interested initially I sent a short offer. Suddenly I was getting consistent responses. More than I could really handle at first. I was so focused on myself that I forgot about what the seller wants, which is a solution to their problem. They don't want to be sold, they want to know what you're prepared to do for them. That has changed my whole approach, as well as my success rate. Ok, that's it. Carry on. You're sending a short offer on any sort of "Yes I'm interested" or "What's that, tell me more" response, before giving any sort of explanation or conducting negotiations? Share this post Link to post Share on other sites
<Steve> 82 Report post Posted October 9, 2009 However, my original offer to lease purchase his home stands if his efforts don't pan out.Good. Now he has 2 offers an SLO and a CA and you left the door open so your ready to get to work! when the seller is ready. Let him sit for now and follow up in a couple of weeks, or maybe he'll contact you in a month or two. NEXT! Share this post Link to post Share on other sites
jhanson8 0 Report post Posted October 10, 2009 You're sending a short offer on any sort of "Yes I'm interested" or "What's that, tell me more" response, before giving any sort of explanation or conducting negotiations?It depends. I send out the standard "Do you want to sell on a lease-purchase" type email. If they respond positively, or if they ask for information, I send a simple follow-up explanation email. If I don't know anything about the home then I have to ask some more questions. But, if it's something local that I can drive by and see and get some dependable comps on, or if it's a Zillow listing or something that has information, then I send a second email with a short offer right away. Doing it this way accomplishes several things: I get to be proactive and control the conversation, I get the offer out there and let the seller know I mean business, the seller isn't asked for a lot of information without anything in return, I don't waste my time waiting for responses that may never come, I find out quickly whether this seller is serious, and I provide a starting point for negotiations. My short offer is weighted heavily towards my interests, but without lowballing the seller and insulting them. If they accept the initial offer, then my offer was too high. Share this post Link to post Share on other sites
