OfflineHi everyone,
I went to my second RE Auction today and met a few people, but I noticed there were a group of three guys that were buying most of the property. The others only bought one. I approached them after the auction and introduced myself and told them that I find amazing deals just as good or better than the one's they were buying. The gentleman then said, "if you have anything good give me a call, we buy over 100 properties per year". I almost jumped out my body, but I kept it cool and we arranged for me to give him a call on Friday.
This is where God's favor comes in. Believe it or not, I gave one of his partners a ride to their office, which is about 2 minutes from my house. I had a chance to pick his brain and he was telling me about one of the properties they bought today which they said the judgement amount was almost $300,000 and they bought it for 25K. Now, I know with Dean's strategies I can find some killer deals, but how do I provide those types of deals. One thing the investor said when I was driving him home was "what's a great deal to someone else may not be a great deal to us". I can understand that buying that many properties they can be spoiled but is 40,50 and 60% off a deal to these guys because that's what I told them I can find. What does the judgement amount mean?
Also, he told me about a friend of his that's looking to pick up some REOs (20-30) in a package deal, but I'll put that in another thread entitled "REO List Finder".
In terms of finding more buyers for my list, I think these are whales on my line, I just need to know how to reel them into the boat. Thanks family!
Deshone
Praise God for his great favor to you. The judgement amount, I believe, is what is owed to bank,fees and penalties. Maybe you can use these guys to assign their properties to your other buyers using transactional funding.
Bruce
You went out and made it happen!! bruce has great advice. you could always put them on your buyers list or if your thinking about wealth building i would consider using other peoples money. You can approach them on deals that are to excellent to pass up the put the money up and you can split the profits. They can also loan you money for projects you might want to hold on to yourself and agree to pay them 15% for there loan. with OPM there's so many things you can do !!
God BLESS ON FUTURE ENDEAVORS,
Gorgeous Frazier
Frazier and Bruce, that's wonderful advice from the both of you. I am surely going to pursue a partnership after we have done some deals and I have time to cultivate the relationship. Once they see me as someone who knows how to find great deals, hopefully that will open up other possibilities. I just wasn't sure about the type of profit they're looking for in their deals since they do buy so many. I guess this is something that we will talk about on Friday.
Deshone
Keep up the amazing work and keep striving!!
God bless,
Gorgeous Frazier