I get lot of private emails and PM's from board members. Here are what the majority of them want to know from me.
I give them an idea as to how I handle these situations. I would like to pass these questions on to other seasoned investors and see how YOU handle these.
1. When you contract a house how do you convince the owner to give you a key so you can show the house to potential investors to assign to?
(personally I always get a key)
2. How do you keep the owner of the house from always being there when you show the house to a potential investor? In other words...you don't want them following you around while you are doing your negotiations with a potential buyer.
3. When negotiating with a seller who is pretty motivated...but has every reason why you should give a little more for their property...how do you convince them to come on down a few thousand dollars more to make it more feasible to assign more QUICKLY to a investor? In other words the homeowner is almost to a reasonable price but needs to come on down a little more to make the deal possible.
4. When showing as assignment property to one of your investors...and you are at rock bottom price...they are telling you all the things that are wrong and how much it will take them to fix it up and why they need much more of a discount...what do you say.
For instance if you have a house with an ARV for $42,000 and you have it for $10,000...repairs would be about $8000. That is a good deal and the investor wants even better deal. What do you do?
These are a few of the weekly questions I deal with from many board members.
I always answer to the best of my ability and expertise. I would like to hear how you guys handle these situation too.
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"