50 Offers out, 35 rejected !

Walter,

The way of Dean teaches us to think outside the box and to make obstacles into challenges or even better into oppurtunities.

A few hours ago I read your journal and since then the comment from that one person stayed in my mind.

" You guys were joking, right ? Please do not waste my time even going thru your offer. What planet were you from ? -copied from your post above

I kept thinking about it and I finally figured out why. This is an obstacle, a challenge, maybe an oppurntunity...

Write her a letter. Explain the concept of making 25(or more) low offers and why, the 25/1 concept in detail. Then ask her if she would like to invest with you aka be on your buyer's list(You will find her the insane can't pass up money making deals). She will know that you are sincere and I bet she will believ in you.
Right now she may think your nuts but with the right information she might decide she wants to be nuts too. This is, of course, a rough ideal that you would have to think about and work out the details, but you get the idea.

Think outside the box. Don't let this "oppurtunity" pass you by.

What is the worst she can do? Say NO? Realize her own ignorance? Call you nuts? All of the above?

or

Think your a genious? Realize you think outside the box and make things happen? Decide to get your help in selling her house. You won't know if you don't try.

Scott

Scott,

I do not really have to tell you are smart, it is painfully obvious !

That idea of yours will be out to that specific seller within this week, period.

Thank you. You also reminded me of my mother who always say, " Son, two heads are always better than one. "

I will keep everyone posted.

Living deliberately,

Walter, Las Vegas

Thank you Walter

Dean and my DG brothers and sisters have been teaching me how to 'think'. I am trying to train myself to 'think' differently, correctly. Whenever I see someone mention a problem or obstacle I ask myself what would Dean do. What would Matt, Rina, Sully, Anita, Indiana Joe, or Elena do? They would all do the same thing. They would figure out some way they could benefit from it. So if "this" was my problem or my obstacle how could I benefit from it?

So I don't deserve any credit all of you do. I am just trying to apply the knowledge I learn from all of you.

Scott

You find an accepted offer...but these are not for contracts are they? Will you assign what you find? Or are these for your own personal holds?...And the 500 Earnest money...thats not per offer correct? Just per accepted offer?

Jay

Hey Walter,

Great thread, thanks for posting!! It's great to see someone going out and applying Matt's strategy and then taking the time to come back and share your experiential wisdom with us! I had a couple questions, though:
1. Did your agent submit the offers in writing (fax), via phone, or via email?
2. How big of an area (square mileage) are you investing and submitting offers in? (I was surprised by the 20 offers a week number)
3. What kind of homes are you submitting offers on? I know you mentioned houses listed at $135K, but are you looking for 3BR/2BA, etc., or do you match up whatever offers are accepted with a particular buyer from your list that is looking for that kind of house?
4. What kind of down payment are you looking at with these properties? 3%, 5%, 10%?

Thanks again!

Vincent

Congratulations-you are already successful in that you did the opposite of what over 90% of the people who read this material don't do-you took action. Rinse and Repeat. Congratulations on having an agent that is on board with you on this system/not to be underestimated. Did the agent have Pre-Printed generic offer forms ; or did you do letters of intent? Keep us posted.

Vincent,

1. My agent and I submit our offers thru fax and then we call them for confirmation that they received the offers.

2. We go by Zip Codes we want to acquire properties at. Surpised by 20 offers a week ? What about 100 offers a week now ?

3. Typically a standard 3BR/2BA, 1 to 2 garages properties. I do not get so emotionally attached to house details until they accept our offers anyway.

4. No downpayments involved, only earnest money deposit of $500 ( EMD ) since our offer is all cash using TRANSACTIONAL FUNDS receipt with the offers.

I just closed my first deal and netted $4000 after all said and done. Tip : The Title Company you use can break or make the deal ! I would work so hard to find one who does " double closing ." Most of them will say no, but there are those who understands the process and will say yes - find one !

Happy investing !

Deliberately,

Walter, Las Vegas, Nevada

Walter,

AWESOME stuff! Thanks a million! I've thought about the title company and the double closings ever since I saw Chip and Andrea's story on the EDGE dvd's. It will be on my to-do list! I love the possibility that I could go out every day and probably try to find someone or something to add to our power team!

Vincent

Walter,
You go man!!! Thanks for the information.

Hi Walt,

Congrads on your deal & all the best to you in the future

Hey Walter,

How does it work? Where is your POF for $70K from, a bank or Private Lender? When you mention the $500 as EMD, do you have this in escrow with an Atty. or closing agent? If so, you can use this til the cows come home, right? i.e. one doesn't need to have a separate $500 for each property.

ttys,

John