OfflineI recently purchased the RBBP program. I am trying to find the perfect Real estate agent. I called several offices of Remax and talked to the front desk and left messages for many agents and also spoke to few. The few I spoke to were interested and appeared promising, as a follow up when I send them an email asking for cash buyers list, they never responded back. I called keller williams offices today and spoke to an agent who was very interested, she said she works with investors all the time and can get deals which are 60 - 70% below FMV. After all the conversation she wanted me to provide a proof of funds letter or talk to her mortgage broker to qualify me before she send me any listing. she also wanted to meet me personally before she starts sending anyting. what do I do? my credit is good so do I go ahead with the prequalification or do I search for another agent. Even if I qualify for a loan I want to do assignemnt deals and not buy the property for myself as I dont have much cash for down payment. Please advice
Your attitude determines your altitude!
I would definately find another agent. Find a agent that doesnt mind working for you. And remember if you come across a situation like that again just use a proof of funds letter from coastal funding.
Seeking overall prosperity in life,
Carlos
Tell her what you want to do. Show her that you have buyers who can close a deal. At some point you are going to have to discuss this with her... do it up front.
"NOW GO FIND A DEAL"
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
Thanks for your suggestion. Please correct me if I am wrong but I think coastal funding will only provide proof of funds, if you have a property locked up for double closing. I am not sure if they will provide a proof of funds without a deal locked up. I think as you said I might have to find another agent. thanks!
Your attitude determines your altitude!
Thank you so much for responding. I am just getting started so I dont have buyers in my list. I was planning to ask her for cash buyers list from past 90 days in a follow up email but seems like she wants me to be prequalified with her mortgage broker before she sends me any listings. You are right, will have to tell the agent at some point that we are locking the property and turing it over to a cash buyer.
Your attitude determines your altitude!
This agent seems to have a lot of what you are looking for. Be up front with her. Tell her that you want to wholesale and your buyer will be supplying the funds. If she works with investors, she will understand. If you can convince her that you are serious and have a plan that will work, you may have a partner.
Al
"NOW GO FIND A DEAL"
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
Coastal Funding will only do transactional funding if you have a end buyer; they will give you a Proof of Funds letter anytime.
~Michelle Casey
"Now all glory to God, who is able, through his mighty power at work within us, to accomplish infinitely more than we might ask or think."~Ephesians 3:20
Thanks for the suggestion. I am meeting with her tomorrow. I am thinking of telling her if the property is a great deal then I will hold to it for cash flow or else wholesale it. Din't want to lose her if she is the real deal, lets see how the meeting goes. Seems like all the Remax and Keller willam agents have this agreement they want us to sign - an exclusive buyer agreement, so that we dont go with other agents. How do I avoid signing that?
Your attitude determines your altitude!
That is so true, it is so difficult to find the right agent. It is always good to have a few of them instead of one. Trying to call all remax and kw offices. thanks!!
Your attitude determines your altitude!
Thank you so much, I always thought of costal funding as the one who provides transaction funding. checked out their site long time ago and it totally skipped my mind that they also provide proof of funds. I just checked them out few mins ago and seems like they need a property address for which we are requesting proof of funds. Anyway, I am meeting with this realtor tomorrow, lets see how it goes.
Your attitude determines your altitude!
My meeting with the realestate agent went well. when she asked what in a real estate agent I was looking for, I said the most important thing is flexibility. I gave her a hint that I might ask her for cash buyers list or expired MLS listings etc., immediatly she said are you Dean Graziosi's student lol, to that I said yes. I also told her about a couple of properties that I bought which are buy and hold, told that I would like to change my strategy and do quick flips or wholesaling. she wanted me to sign an exclusive buyer agreement and I said I might sign property by property basis. She said she will have to think about it and will get back to me. I might meet couple of others next week, what is the best reply to give when they ask us to sign the exclusive buyer agreement. Seems like all remax and keller willam have this requirement or maybe its agent to agent basis, not sure.
Your attitude determines your altitude!