OfflineI have been trying to apply the strategies that Dean teach but all I am getting is road blocks. I found out that investors are buying in my area about 70% of ARV but I just cant get any sellers to agree on anything that will make me a profit. I am so confused as to how to go about this me and my realtor put in about 100 offers a week and not one has come back accepted. Please can someone explain to me what Im doing wrong?
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You need to rip your market apart with analysis. Look at what is selling ( property types ) and for what price or price range.
Then start building your buyers list. Look at their buying profile.. In other words exactly the type of homes they are buying at the present time. Then you find those properties that can be readily resold to an end buyer or investor.
Every home you make an offer on -- be sure that you first analyze the numbers .. In that is there room enough for you to make at least a small profit after all expenses are paid.
These are just a few ideas for you to consider.
Best of luck to you !!
Randy S.
Elkton , MD
Offers too low. Insulting and a reply is not worth their time
Realtor not being assertive and waiting to see what sticks and not what has the best chance to be accepted
Your assignment fee might be too high
Sellers agent doesn't deal with assignments
Seller doesn't deal with assignments
What you should if that is not the case is ask your realtor do they converse with the agents they send the offer instead of just sending offer and waiting for reply. That tends to not get you a callback.
He should be building a relationship if he hasn't already with others agents he works with or at least know them, etc. I am very blunt with my clients about their offers; I have no problem telling them that their offers are too low and the chances of them being accepted are slim to none. I know everyone wants a deal, but I generally tell my clients to 'bid like you want it'.
How much time were these 100 offers presented over??? One week???Two weeks???
If you're going to give lowball offers, in the agreement give them an incentive if you can deliver like
'Buyer able to close in 14-21 days'
'Buyer will put a 10%-20% deposit on contract'
Make it worth their time and not like you're benefitting and they're getting screwed.
We put in 100 offers per week we also try to sit down with the seller and the listing agent if possible so we can build our initial rapport with them. I deal with a lot of short sales as well and even if the seller is going into foreclosure they feel that my offer isnt fair to the bank. I offer to pay all closing cost do the negotiation if its a short and close between 15-30 days. I think I am offering a good incentive to both the agent and the seller but maybe Im wrong. I just dont know where to go from here Im giving this my all and nothing. My offers are about 60% of fair market value.