Agent response to letter i sent out.

Ok. i emailed her back as to the direction i was planning on going in. she then said ok she's willing to help me. we are meeting over coffee to talk more.

Don't say assign, say "double close".

They are essentially the same thing, here are the differences:

Assignment:
- CON - You have to disclose your profits to the end buyer.
- CON - Doesn't work with bank owned properties, or at all in California I believe.
- PRO - No closing costs.

Double close:
- PRO - You don't have to disclose your profits to the end buyer which means you can make more.
- PRO - Works anywhere.
- CON - You pay two separate closing costs.

How an assignment works:

SELLER --> "agreement to purchase" --> YOU --> "assignment of contract" --> BUYER --> "closing"

How a double close works:

SELLER --> "agreement to purchase" --> YOU --> "closing" --> YOU --> "agreement to purchase" --> BUYER --> "closing"

See the difference? In a double close you just buy and sell it in the same day, literally within hours. There's plenty of information on double closes on this website, in deans books, and in advanced education for me to go on and on about it. But I hope that helps!

Oh, another thing to note is that just say you want to turn a 20-25k profit on each deal. Don't tell the Realtors how you're going to do it. The main thing you are doing when contacting Realtors is finding out if they have the right mindset. Don't overwhelm them with information, you have to qualify them for YOU before anyone's time is wasted!

I agree although I havent gotten my 1st deal yet i have worked with a ton of realtors made a ton of mistakes LOl, I know how to talk with them etc. made a ton of offers and have amazing experience a yrs worth as a matter of fact, so I agree w/Dominoe I dont say anymore how exactly I am going to turn these prop;s, all they really care about is getting paid as realtors so I would just say exactly that "i want to make 20-25k on each deal I am going to buy, fix & flip properties, can you help me with that?" If they say no or something like that realtor said, Dean says walk away just say thanks it's not a good fit.

Believe me there are a ton of agents looking for work and it wont be hard findind another one just keep going and you will it's a numbers game. You interview the agent call them up not even them call their offices talk to the secretary or person w'/answers ph's & ask for the #'s of several agents w/specialize or wrk w/investors so you filter them out & dont waste yiour time. Another great way I was taught is you can go to Realtor.com & look up in your area for multiple units for sale & see w/the agent is for that prop and that agent is more likely one that specializes in investors, hope this helps. I have a lot of experience in this now haha so you can ask me or anyone can ask me whatever they want. Close to my 1st deal.

Agents who say what are you going to do with the property I tell them make money on it....it has no bearing on you buying the home except if you have to close on them and then the house is yours.... Tell the agents you choose that you may sell the property or you may keep it, not sure.

Also agents who say, the only properties are REO's or Gov't owned do not want to work for/with you.....was looking for a house for myself,went to an open house lady excited I wanted her help to find a property....until I said not looking to be no higher than 80% of the FMV....she said that is REO's or HUD homes, if you find one let me know if I can help.....?????

Went to the next open house....and asked a question the Realtor didn't know the answer to.....he got the owner on the phone right then!!! Dean has a great strategy for finding a Realtor. Letters work, but the control is with the agents, if you call the agents-you have control.

Thanks Domino thank really helps. last thing i want to do is try to convined someone to work with me, because before they hear you out they want to pronounced judgement that somthing doesnt work. Yes has you said the mind set is very important so im taking this in hard. thanks

Thanks you'all for the comments.You all rock! one more thing i put an ad" on cragst list stating : Investor friendly Real estate agent needed" two agent replyed one stated they would love to help he is actively working with investor now so he understands.

I have a little bit different thoughts on this. I don't say assign OR double close to my realtor. I say I am a CASH buyer. That is all you want to tell them. It is none of their business if you are going to assign or double close and can often cause problems when you try to explain it all.

When they make up the sales contract tell them to put your name (or your company name) and/or assigns because you don't know if you will be putting the property into your name, your partner's name or an LLC. PERIOD. DONE.

Once in a blue moon, you will find a bank that will let you do an assignment but very, very seldom. When you do, it is usually a small local bank. And assigning a contract is legal in EVERY state.

Karen

WOW such different views on this topic! I think the best thing is trial an error learn from them and picked the best path that worked better for the individual. Thanks guys for the discussions.