Hello All!

Been lurking in the background a few months - had twin grandkids and I've been busy. Been reading the forum dutifully every day or so or to see what everyone is doing. I did a couple CA's last year start to finish with Michael's invaluable help. I also had the great support of this forum. Not only with questions answered, but in going back and reading all the responses. Thanks to everyone.

That said...

Started emailing again. Sent out a bunch this week and have 2 on the line that seem interested.

One of the sellers is a retired, older realtor. I didn't recognize that from his ad, or I would have passed. It's his own residence, and he is looking to move into a retirement community. He originally asked me for references, which I by-passed and now after hearing everything, he is interested.

The owner/realtor owns the property free and clear on a 14 year old property which looks great inside and out from the pics. He was asking 320M, and after doing some comps, I figured about 315M. After figuring in the option fee and rent credits, I proposed 300M, after showing him he would otherwise net about $287M.

The owner said he wouldn't take less than $305M. He then said he wanted someone as a tenant/buyer that definitely would be able to purchase within one year, a non-smoker, and no pets.

My question is (which I probably already answered in the topic description):

Do I just need to say...NEXT!?

This came out of my first batch of 80 emails, so I know I am not to the point of taking anyone. Would I by tying my hands too much in taking on those type of restrictions?

Normally, I might've passed when he started asking for recommendations, but I figured that my conversations with him will get me up to speed again talking to sellers...and it has. I was pleasantly surprised when he started talking about option fees, and I told him that's how I get paid, and when he asked about a security deposit, I told him, without blinking an eye, that's for renters, not these "pre-buyers". So I'm glad for the practice to get back into the swing of things.

I'm assuming that in this market, sellers are a dime a dozen, so again, I've probably answered my own question.

Thanks!

I didn't know you were pregnant, Kevin. OctoMom meet DuoDad!

Usually the first sign of a pain in the ass homeowner. By the way, have you begun your portfolio book of done deals for when this arises again?


Let's see. . .Owner/Agent, wants references, demands above market price and a Stepford Tenant. I assume he has also asked you to work for free? Tell this guy you'd rather hit your thumb with a hammer and move on.

And, yeah, use this guy for target practice and shake off the rust, Kev.

QUOTE (MichaelC @ Mar 6 2010, 02:09 PM)

My sentiments exactly...wanted to make sure I wasn't missing anything. The way the market is, we can afford to be very picky too.

OMG! What a load of drama this owner is..
I have tons of references and a portfolio of done deals, but if a prospect deal asks me for references, (which they did about 5 yrs ago) I tell them that giving out my past customer's information is a violation of their privacy (ph #, Address, Name, etc)... If after that answer they still insist then I move on.
Usually that answer works 99.9% of the times though


BEV!

My portfolio book is a three ring binder. Each page has a photo of the property, with the address and some details of the deal, along with the homeowner's phone number. I slip this into one of those clear plastic sleeves which fit into a three ring binder. I carry it with me and drop it on the kitchen table when meeting with a homeowner. They invariably ask, "What is that?" I tell them it's some done deals. They'll flip through it, maybe ask a few questions, and we move on, my experience of credibility no longer an issue. Almost never will they jot down any phone numbers to contact other homeowners.