Streamlining your Offer System... Need Suggestons

Streamlining your Offer System... Need Suggestons

Hi DG Family,

Okay, I am currently working on putting 20 offers into various reo banks. For those of you who are making "66" offers (you go Build_Assets) in one week. How are you streamlining the process? My agent has come to the conclusion that it will take her approximately 45 minutes to type up each offer, even with me pre-signing the documents. I know some of your agents are emailing and/or calling with offers. But I guess my question is what are your agents telling the other agents when making the offer over the phone or in the email? Out here in the desert, we have some "difficult" agents where if they find out it's a low offer, they don't want to bother because they "know the bank will refuse the offer." If it's in writing they have to put the offer in, but of course time is our enemy. Also, how are you keeping track of your offers? Thanks for the help...



I'm with you KimmyJ!

I'd like to know HOW you can put these offers in via email/phone? Puzzled
What do you send them? Can anyone help us out here? I'd love to send offers this way...THANKS!



Life's a Dance you learn as you go...GET HAPPY FEET!

"Most of the important things in the world have been accomplished by people who have kept on trying when there seemed no hope at all." ~Dale Carnegie

Same ?

This is exactly what has been holding me back and I have been trying to get a detailed explaination of the wording in an email offer.On this website I think everything is covered except that.As you can see 3 of us that have been here for awhile have the same question and I know it is a simple answer, but when you just don't have the answer it can be frustrating.
Can someone give a good detailed wording you use and explanation of what Kimmy just wrote.


Jason S.
San Diego, CA.
**All CASH House Buyer!**
Refer Us To Neighbors, Friends & Family, Earn $1,000
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More from my agent

Okay, my agent just called and told me that she phoned 4 of the listing agents to get information on the properties I want to put offers on. All 4 of them told her that offers were put in at $X, and that my offer was way too low to even compete with the other offers (they wouldn't give exact amounts). In addition, 2 of the homes had a couple offers already on the table. One of the houses, the listing agent told her the house is covered in mold and that he thinks the bank is nuts for requiring such a high price. Is this a good strategy for my agent? I just feel like I'm beating my head against the wall because the other agents are poo-pooing my offers before I can even get them in! Is this normal?

I'm having the same issue,

I'm having the same issue, over and over again. I guess these strategies work if there aren't competing offers. Is it because others are seeing the value in real estate investing or are we being snowballed by agents/sellers/banks because they don't want to let it go???


Without a vision the people parish. Prov 29:18

Perfect verbiage

Snowballed! That is exactly how I feel right now.

Market time

I know in San Diego that this strategy is only working on homes that have been on the market a long time because people are buying at FMV or a little lower.


Jason S.
San Diego, CA.
**All CASH House Buyer!**
Refer Us To Neighbors, Friends & Family, Earn $1,000
LIKE my FB page

Offer can be verbal..

Offers can be verbal. Your agent doesn't have to put every offer in writing. The more offers you put out there, the better chances your offers getting accepted. Use Matt as an example, he started putting offers in writings, but when he started doing the 25-1 system, most of them have been verbal. The main thing though is once you get your offer accepted, get the documents and lock it up.

My last REO that i close on it last week was a verbal offer and my attorney locked it up with the seller. If you do it through email, get your offer accepted and then fax the agents or the seller the documents to lock up the deal. I hope that helps, but we should be vegilant and eliminate excuses from achieving our goals.


What I am seeing

I am a Realtor in Phoenix. I have some buyers wanting to take advantage of the first time buyer tax program. I am finding that homes that are 80% of market value or less are being bought up quickly. We are making offers at 70% to 80% of value, and are not competitive. The homes that require substantial rehab were once reserved for investors. With 203K plan, anyone can purchase a home requiring rehab. I have found that when the banks are reducing their list price, they are generating a lot of interest. I want to be the only offer in front of the seller. I have had some success, by not waiting for banks to lower their list price. I can eliminate some of the competition by making my low offers before the bank lowers the price. If the listing is too new, this does not work. I play a guessing game of making those offers just before the bank lowers their listing price. I find that banks tend to lower their price at the end of the month.

Good Luck, Al



Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw

Good point Al

I'm looking at one now that dropped another $7k right after I found the listing. I'm meeting with a contractor to get repair estimates to help me determine my offer price. They already refused a low offer, but I don't know how much it was. Hopefully, I hit the right button at the right time with my offer.

Should I wait until the end of the month or the beginning of next month to make an offer? Thanks for the info Al.

Feeling frustrated, too!

We went in yesterday to put an offer on a house that had been on the market for over a year, and THAT DAY the bank accepted another offer. It really is frustrating!! We want to be putting in lots of offers, but we have the same issue, with the paperwork for each offer taking a long time to fill out. How do you make a verbal offer? Just ask your realtor to call the listing agent or bank and make our offer? Another problem with some of the things I'm reading here is, 70% FMV is not going to work for us! We are trying to assign contracts to wholesalers for our first couple of deals, and they ALL want 60% FMV. Obviously, we have to make our offers below that number. Are we the only ones in this boat? Sad?


Cool Go confidently in the direction of your dreams. -- Henry David Thoreau


I just got slapped with the same reality on my offers. My agent called the "big guns" in our area today. These are the agents that are listing all the reos. They were very honest and said investors with cash are coming in and offering 90% of the listing price. They're buying them up a dozen at a time. I am assuming they're buying, holding and renting or lease/option because you can't wholesale at 90% of the listing. This tells me two things... one wholesaling may not be the niche in my area or I have to look at the deals from a different perspective. I'm thinking that I would have to find houses that are already discounted 10-15% off FMV and then offer only 10-15% off the listing price. These would have to be houses with minimal repairs and good rental cash flow. This would give me 70c on the dollar. My fee would be smaller, but it's still doable. I am sure that if there was $20k + in equity after repairs, investors would be happy. Another option I have is taking Northwest's approach via HML and then refi. What do you all think?

Hi Kim and all others

Amazing how alot of us r experiencing the same problems! Kim is in southern CA and I am in the north (east bay). I am working with a realtor that says that I would be wasting my time(and hers) to offer 55% of the bank's asking price (REOs). She says that most are selling at either their asking price (or higher based on bidding wars) and some possibly at a 10% discount.

Kim, the CA market has dropped so much because housing prices grew way too fast over the last 6 years or so (houses doubling in price every 3 years.....RIDICULOUS.......there had to be a major bubble coming). I think that states such as ours, AZ, NV and FL are states where the houses are being priced by banks at 50% (if not lower) than the peak these prices were at say 2 years ago (I know of many homes that were worth $900K and are now priced at $450K). It is very difficult to ask the bank to halve that to $225K (50% of asking price) because the banks have already taken these factors into account.

Bottom line, unless we will be holding the props ourselves as landlords for lease/options.......we have to find investors that are willing to be the buy and hold guys letting them know that the best I can possibly do is get the banks to lower their prices by maybe another 10% to 20% off. We have to find investors that are SAVVY and understand that they are getting a TERIFFIC deal because the banks are pricing these houses at 1/2 off from their peak of 2 years ago. much lower can the banks really go???

It all depends on where you live. I spoke to an investor the other day that told me that this is the only mtime that he has ever seen in the past 35 years where you can buy a prop in CA and CASH FLOW! he said this is unprecedented in CA.

Based on this, I am LISTENING to my realtor by putting in bids closer to 75% so I have a little wiggle room. I have found SAVVY investors that look at the marketplace as I discussed above. They are willing to buy at 80 to 85% of FMV because they also know that these houses are priced correctly.

Therefore, the way you make money is being a "finder" of these homes. My investors (after negotiating with them) are willing to pay me 3.5% of the puchase price). So on $450K, I make $15,750. Not too shabby! And don't have the headache of playing back and forth games with the banks by making low ball offers and then they counter, then I counter and so on.........

This is my 4 cents (long emails = 2 cents x 2 Smiling

I am open to other suggestions but this is how I see the market in the area where I live. Anybody else in the east bay, pls chime in with your thoughts.



I am getting very depressed reading this post and the replies. I think I will go find a TV somewhere and watch CNN so I don't have to listen to as much negativity!

Listen, I have people tell me all the time that there are no good deals in my area, they also tell me that there arent't any deals that will cashflow. I don't know what to tell them because if they don't think that finding a house at 50% off is possible then it's not for them, plain and simple.

When I created the 25:1 system I didn't say talk to 3 realtors and go with the best one. I didn't say put in 4 offers and if one doesn't get accepted quit putting in offers. I didn't say if the offer takes a long time to fill out then it isn't worth doing. And I definately didn't say only focus on foreclosures or REO's.

The steps are very, very simple. Just do EXACTLY the steps I suggest and DO NOT DEVIATE ONE INCH. I just don't get it.

The bottom line is this. Stop getting hung up on the small stuff.

Get it done!


You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!

Hi Matt

As always, you are absolutely right. I guess that I just have to look for other props such as FSBOs and not just focus on REOs. My realtor wrote back that she will NOT put in offers at 50% because it would damage her reputation and just waste both of our time. I don't take it personally and do respect her greatly (she does know her stuff).

Just have to seek out a new realtor that is willing to make offers at what I want to make them at (I am also making contact with a banker so this may work better working directly with him)or as I said look at other types of props.

Thanks for the encouragment!



I agree with you that deals can be found. However, you are VERY blessed that you found a realtor willing to do the dirty work for you. Star is one of a kind. What Neil just said about his realtor is exactly the experience I have had with the last 8 realtors I have dealt with not including my realtor the "friend." They get gung ho for the first offer or two, but after they receive the negative reactions from the other realtors, they immediately quit. They can't see long term. I tried to put 16 offers in yesterday AND EVERY SINGLE OFFER came back with, "Your client is nuts! I have X offers at 90% - 95% of the listing price." Now the agent is doubting the system. I'm working the 25:1 system. I just typed up your agent letter and I am posting it on CL, Backpage, etc. You've been doing this awhile, so you have your system down. For a new person trying to get all this stuff flowing and working like a well oiled machine can be a little overwhelming, especially when you have agents that don't get it! You and Star are like one person. Many of us have not found that agent yet. The Chapter 6 title to Dean's new book says, "THE PERFECT REAL ESTATE AGENT = BIG PROFITS!" I think the problem is that none of us have found the perfect agent. So, I guess I answered my own question. In order to be streamlined you need the PERFECT AGENT! I don't have the perfect agent yet!

Hopefully this helps

Ladies and gents. The deals are out there. Member the banks put themsleves in the jam they are in. That is afeecting the rest of the nation. Due to greed. Well today for example I witnessed a written offer for a home for 12k on a house that was selling for 69k. When the house is in top shape. it can sell for 145K. They plan to put 45k into it. The house needs alot of work. Last week an investor I will be working with showed contracts of homes that he closed on each for 15k. All these home are being worked on now. My realotr bought a house for 20k that he is having being worked on now. I met with a FSBO last week. His home is worth 258K.Needs no work as far as I can see. The house is new. Built in 1997. He wants to sell quickly, is what he told me, but is trying to get 275k for the house. Which will not happen.He said he had about a month to sell. He is id default. So Iam going to make a verbal offer in about another week to him. I am checking to see if the house happen to sell every other day. I will call him and simply say listen MR. So and So, I am going to maka an offer on your home and let me know what you think. The worst he can say is no. If he says no. I will wait 2 more weeks, call him backand see if he will accept my offer then. Thats all. I told him before I am an investor so I can not pay 275k for your house. I was honest. So I will be honest with my offer.


I got my mind made up..... (buyers site)

Another Thing

For example I went down to my treasures office to take a look at the list of owners with due taxes. I wrote down a few addresses.I will do some research, then I will start seeking out the owners or just see if I can bye it over the counter. In my county or state, there is no redemption period. These homes on hte list now have till June to pay back taxes or they will sold at the next tax sales in august. So me knowing this, Iwill wait till the last minute and see if I can bye over the counter or arrange something with the homeowners. Some people owe taxes from 500-100k. Some people will pay the taxes before the dead line to pay.So I will check the list the 3rd week of may to see who payed there taxes and have cleared and woh is still delinquent. See what I can do. Lots of people just don't want the property anymore. Have property is landlocked with ToysRus behind the house. They owe almost 3k in taxes. The house has been vacant for years and i s ran down. I am thinking the ToysRUs would maybe want the land that house sits on. So I want to see if I can pay the taxes to tear down the house to sell the land. So my mind is working peeps dont get hung upon one way of getting property. Utilize all avenues available. Just wonna keep my peeps motivated. I dont even allow negative anything around me. Just the other night I got mad at my girlfriend for having the news on, cause all I hear is negativity. She said whats the matter with me and just said Idon't want to hear negativity. I have blocked all bad vibes, bad news,etc out. Don't want to hear it because naturally it brings you down. You guys need to not listen to the negativity your realtors are talking to you. Its killing your motivation beecause you start to believe it. They don't want to grow is how I see it. There are in routine. We dont operate that way so forgive them for being closed minded and move on. Opportunity is there for those of us who want it and are willing to go after it. They say nothing worth getting is easy. So dont be quitters.All the investoras I have met have told me this personally. This business is rough starting out so dont quit because all your hard work will soon pay off big time. They said you can make alot of money if you are willing to dig in because noone is gonna hand you a deal or anything for that matter.


I got my mind made up..... (buyers site)

Your offer

Boys and girls where not out of the woods yet when it comes down
to are economy,Who ever is paying top dollar right now may be jumping
the gun alittle to early.I heared a depression is actually two recessions
back 2 back. Is it possible to summit offers to banks just like you
can use bandit signs you basically use your template and fill in the
information? RE agents are a dime a dozen if you are trying to make

MAKE YOUR ACTIONS COUNT!!!!!!!!!!!!!!!!!!!!!!!!!!!!

trust me

Star is good but there are more out there like her. I find them almost every week. I know it will be hard to find a good agent. It was hard for me to convince Star to work with me. She didn't need me. I Convinced her to work with me. That is the point I am trying to make. I made her believe in me because I believed in myself. I had a "can do" attitude. I never felt sorry for myself or got negative. When somebody didn't want to work with me I really thought they were crazy.


You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!

I think he is right

Cbrpower says move around do not stay in one place!Always keep moving
in your offers just because you make an offer does not mean it is over!
If you really want to be a REI you have to make your own rules, My number
one rule is i do not want any fat cats(except buyers)around me, I want
people hungry just like i am! My RE agent will be hungry just like me
(Fresh out of school).



cbrpower wrote:
I am getting very depressed reading this post and the replies. I think I will go find a TV somewhere and watch CNN so I don't have to listen to as much negativity!

Needed a laugh!

What I'm Doing...

Here's what I'm doing.

I'm not (yet) putting in 25-50 offers per week, but I am doing 2 this week, and will work my way up or make the jump soon! I've got a state purchase agreement / offer form that is all pre-done, and has fields you can fill in on the computer for all the stuff that is custom to each offer. Mine is in Word .doc format, but I'm pretty sure they have it available in pdf too, which I would prefer and will get at some point. This one was free thanks to a realtor that I made a previous offer through, so it works for now!

Anyway, most offers (if not all) that I make will be pretty similar, or fall within one of a few broad catagories - cash deal, financed deal, assigns, land trust, etc. I'll use the same contingencies for each category, same buyer name, etc. So, I just pre-make one template of each "category" of offer, and then when I am making slews of offers each day, I can just pull up the template, throw in the address, the financials, and if there's anything different about that one. I'm guessing it will take less than 5-10minutes per offer once it's set up.

Do a google search for your state's official real estate website, and there will be some link to online forms. Or, ask a friendly real estate agent.

Also, at this point, I'm only using an agent on deals that we are financing and putting into our name, either to hold and rent, or close, fix, and flip. Anything that I'm planning to assign or double-close, I'm going straight to the listing agent, so they have double the incentive to get my offer accepted.

Something to keep in mind, also, when working with HML's, is that they're going to be wanting to see your deal at a maximum of 60-65% FMV or ARV, usually. So, if you're purchasing at 70-75%, prepare to put some money down. At least that's how the ones I've talked to work.

The investors up here are pretty adament about the 50% price-point, so it's not much use for me to offer higher than that, although I"m working on a deal right now where the buyer hasn't specified HOW much equity he needs. I'm prepared to drop my cut though, in case he needs more discount than we can get in for. At this point, my partner and I are looking to take $20k each, and offering at 67%, which would leave a nice padding plus another $40k for the buyer. Hopefully it will be a go. It's listing price right now is 83% of FMV, and seller says he's motivated, make him an offer! Then we're doing a flip deal where property has been on market nearly a year, has dropped asking price like $100k in price over that time, and is now down to about 72% of FMV. We're going to offer just under 60% on it, and still have a little wiggle room. We'll get it, put some clean up and updating into it (it's an REO) and turn and sell it at about 70-75% FMV, and take home about $40k (split between partners).

Anyway, that pre-filled in form template, and using a copy of a cashier's check will be my method of attack when I start using Matt's strategy.

And you CAN find good agents out there. I talked with 4-5 before I found the golden one. So far, she's a gem. She says she's the "lowball queen", LOL! And, until you do find one, do it yourself in the meantime - gives the listing agent that much more ooomph to get your offer accepted. Plus, it's good for everyone involved to see these low offers come across their desks - helps keep them rooted in reality and gets them used to it. You could even ask the listing agent to kick you back 1-1/2% of their commission, since they'll be getting 6% instead of 3% since you're using them. Have them split that increase with you!

Keep at it!

Tracey R.

Matt's strategy


I am kind of new to the investing part of RE and have been reading all of the posts and asking questions so here goes. Matt what is your fantastic strategy that everyone is speaking of that I am missing, and Tracey what do you put in for your contingencies on your contracts? We seem to struggle with that.


Matt's strategy is the 25

Matt's strategy is the 25 offers to 1 acceptance. It's in Dean's new book, and it's working great for him and everyone who tries it!

For my contingencies, if it's a property we're going to keep and rent, I put in a "contingent on buyer obtaining financing suitable to themselves", I always put in a "contingent on a 15 day due-diligence period", inspection - "buyer reserves the right to have a professional home inspection done, in lieu of or in addition to any personal inspections buyer may do himself, and offer is contingent upon buyer's satisfaction with said inspections". I also usually put contingent upon approval of business partner. If it's going to be an "and / or Assign(s)", I put in a contingency that the seller acknowledges that the buyer may assign his right to purchase the property to another party, and I've tried putting in that buyer has the right to market and show the property, with reasonable access to be granted by the seller, but so far that one has gotten rejected, LOL!

I think those are the main ones.


I like your attitude kingjuss

I like your attitude kingjuss. Keeping a positive outlook is extremly important no matter what your trying to accomplish. there will always be roadblocks that we come up against,but if your goals are worthwhile ,AND THEY ARE!! then find a way through over or around the problem, always being willing to try a fresh approach or a new direction. sometimes we can get so wrapped around a certain idea that if we hit a snag and it doesnt work out the way we expected you end up giving up! DONT DO THAT!!just be flexible and roll with whatever happens, be ready to make adjustments in your game plan,KEEP YOUR GOALS IN SIGHT and keep moving forward. remember,"FAILURES ARE THE STEPPING STONES TO SUCCESS". kingjuss,good idea exploring those tax records, this definitly is a good avenue to take, you make it sound so simple, I guess it is! Im going to keep trying things and tweaking ideas until I hit the jackpot lol!! "Opportunity is ongoing and endless"




Thank you for those contingencies, mousebandit. We are putting in an offer this morning, and we have put the right to assign contingency in, too. I didn't know if that was one of those "nuisance clauses" they warn us against, but we also want to be able to get out of the contract if we can't find an end-buyer. Thanks for the advice and for making me feel comfortable that we've put that in! Laughing out loud


Cool Go confidently in the direction of your dreams. -- Henry David Thoreau

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