Craigslist Ad Response

It might be a DEAL. Go ahead and ask what his contact info to make sure his legit. If your 75k property is already under your contract, you can send the pictures. Expect more calls to come. Blessings to all. LA

I'm not sure if this ad is actually pertaining to a house you have or not, either way that's fine but if the latter, here's what I'd recommend doing.

If it's a ghost ad meaning that you only posted the ad to lure in potential buyers to add on your list try doing this:

Respond back by saying:

"Thanks for the prompt reply, I've received a large amount of emails for this house and right now it's currently under contract and I hope to have it sold within 14 days. I do however come across AMAZING real estate deals all the time so if you're interested in seeing what I have, please let me know. My time is valueable and I hope you feel the same way about yours so all I'd like to ask you for is your criteria for homes you're interested in. Once I have this information, I will only send you the homes I have that meet your criteria. Thanks and I look forward to your reply."

This is a great way to build your buyers list and to sort your investors and buyers accordingly so that you can send certain properties to specific inviduals that are strictly looking for the home(s) that you'll be finding and sending them information on. I hope this helps. Best of luck in all that you do.

Never send them an address without some info on them

Name(personal and company)
#'s(cell, office and fax)

LOI and/or POF: If they have issues presenting it without you gving them info, move on. Chances are they'll buy the place around you and you'll get nothing in return

The more questions you ask, the more professional and prepared you come across the better your chances of not getting screwed

Gary,

Excellent response.

Thanks,

Bob Burns

going to agree with elix here and the above answers. I am assuming it was a ghost ad to find buyers, right? As much as I would like to think that real estate is a fun adventure, I have also learned that it is cut throat also. There are many people out there who would move around you and grab the deal, leaving you in the cold. Make them answer questions, ask them if they are wholesalers, rehabbers or just looking to buy retail. You gotta protect what is yours....Jan

I agree with you Jan. One Listing agent who claims to be a wholesaler and owner of a RE Company called me and ask if we could agree to a certain price for the property i just locked and ready to sell, and he gets the right to sell my property for a certain profit for him. I told him that I need to think it over first. While I was driving around the other day putting up some Bandit signs, I happen to drop by my property and was surprise there's already a "For Sale" sign and the name and number of that "killer guy" is already there. I took it off right away.

Lesson: always be in the look out to your property. A lot of hungry, seasoned investors are gonna grab your deals. Blessings to all. LA

Ya see that is how it happens. You gotta watch your back side at all times. Jeremy and I almost had something like that happen to us with a rehabber. I had a funny feeling about this guy and questions he was asking. So when he gave me a verbal offer, I just said no and the price is non negotiable. He hasn't called back yet and that was 2 weeks ago...Jan

Great advice up above. ask them if they are investors,wholesalers or people trying to buy a home. Then find out if they are pre-approved (if they are just home buyers) or if they are investors/rehabbers if they have pof letter. as well how fast they can close.

I just did the same thing this week. I put my ghost ad on craigs list. I only had one reply. He said he wanted more info on the house and was a cash investor. I said unfortunatley that one has sold but I have many more affordable houses that come thru here.
I gave him a list of questions to answer:
What location he wants.
How many beds/baths.
what square footage?
Is he willing to do repairs. How much want to spend on repairs 7-10,000
Does he have cash or need a loan.
How fast can he close?
Good luck.

Now advice for me please. I dont have a realtor, attorney or title company yet.
Should that be my next step?
I know I should but I am just a little intimidated to talk to attorney with no experience with this stuff.

Thanks-Colleen

Same with me, I just don't feel like talking to an Atty. All I did is I happen to meet somebody who's been in the business for like 3 years and he's doing the same strategy as DG. I talk to him and try to develop a business relation by way of helping him sell his properties for a certain commission. I was honest in telling him that i'm a newbei, and to be trained by a seasoned investor like him is a great honor for me. This guy agreed and he's my business partner now. I'm using his own title company and REA.

Just try to connect with this people, and show them how interested you are. They will help you because they also want your business at the same time. Blessings to all. LA

Your best bet is to get an attorney or realtor through a referral

"hey Bill Betty referred me to you. I'm an investor like her but i'm not as experienced, but if you can help me, i'll bring you all my business and you'll do all the closings. And I meet people all the time so I can refer them to you as well"

Bingo

90% of my clients have been referrals from mortgage brokers, attorneys, title companies, etc because of prior work or favors i've done for them

Guys,

You all have had great questions - and awesome hints, tips and answers.
Very informative. I just wanna be a sponge but in just five days - after reading the book and reading alot of these post - I feel I am on overload. lol

However, very thankful and excited about all the information.

Dizzydrln (Lisa)

hi Lisa;

i am new at blogging but have been a student since oct.09. i also am on overload at times and found i have to do some of the action items and that helps. i wish i would have used the forum sooner though, there is a ton of great ideas from students.

have a great day

andrew

I actually had someone to post a couple of my house on a couple of web sites that i already had people in. It took me a while to track them down. I wanted to meet them in person, Have had no trouble seance.

Randy

Isn't that unethical? If someone has an issue with not telling the truth, isn't that the same as lying? I'm not sure if I'd like to practice that kind of deceitful approach.

I question the character of the kind of people who actual do, or advocate/encourage the practice!!

If you get caught once, you'll never be able to regain your reputation....is it really worth it?

Thanks for the advice. I will try that approach. Did you meet him at RE club?

I felt very uncomfortable doing ghost ads too, so I keep my ads very general and advertise my services instead. I know they recommend ghost ads, but I tried them once and it just had a sleezy feeling to it. So, the leads that it generated, I didn't even contact, I deleted the ad, and started over with an honest approach. Its been working out nicely, and I feel much better about it. If something doesn't feel right to you, don't do it and think of another way to do it that doesn't compromise your morals.

Hi, my name is nancy.
I was reading all about the ghost ads, and didn´t feel comfortable, i am totally new in this business, will you please help me ?
May you send a copy of your ad, it would be easier for me to start building my buyers list.
Thanks,
nk

Hi, my name is nancy.
I was reading all about the ghost ads, and didn´t feel comfortable, i am totally new in this business, will you please help me ?
May you send a copy of your ad, it would be easier for me to start building my buyers list.
Thanks,
nk

Hi, my name is nancy.
I was reading all about the ghost ads, and didn´t feel comfortable, i am totally new in this business, will you please help me ?
May you send a copy of your ad, it would be easier for me to start building my buyers list.
Thanks,
nk

Hi, my name is nancy.
I was reading all about the ghost ads, and didn´t feel comfortable, i am totally new in this business, will you please help me ?
May you send a copy of your ad, it would be easier for me to start building my buyers list.
Thanks,
nk

hi,
I am desesperate trying to find loans for my investment properties.
I bought 2 condos last year, excellent location, and rehab those in a beautiful way. Now they are rented.
Now, i want to buy houses but not mone y at all. I was thinking to get a loan on my properties but i have not find any bank that can do that, they are investment properties and banks are not working with loans at this moment.
Please any idea of what can i do?, please, please,
thanks
nancy
usainvestor1@****

Prior to running a "ghost ad" - I actually do the research - have a property that meets the below LMV value - and have everything in place. Then run the AD. I just don't go place the prop under contract until I have a buyer. There is nothing wrong with that - and actually has really worked and with no money involved for advertising etc. Everyone has to start some where - and with no credit no money down methods it leaves you with few options. Just a thought. I also have my realtor on 24/7 standby so If a retail buyer comes my way and the projected property has be placed under contract prior to that person contacting me... I just have my RE step in assist the retail buyer in what they want. However, I alway have three properties with same criteria on my radar. Hope this makes sense and helps someone.

Dizzy

Most places like CL, everyone is an 'investor'

What you want are BUYERS. Buyers have cash. Thats who you should speak with.

Ask people directly "do you have the cash to buy or are you somone who knows someone???" If they are someone,...then they are in the same boat as you.

The Middle Man. Deals don't get done with two middle men.

A true buyer will have no problem providing a POF and even a bank statement to prove their worth. If you're given a 'transcational funding' POF, move on; they're generally middle men.

To get these however, you will have to have properties readily or if you don't sound confident that it won't be a problem getting them.

"I'm an unlicensed AGENT who finds properties and am looking for buyers so I can get a fee. I can either assign the contract to you or you can give me a flat fee for every time I find something for you. Perhaps we can have an agreement for a set fee for the first ten homes I find for you, and by the tenth we can negotiate fOr the next ten at a higher rate.

I plan on contacting other buyers if you're not interested but will give you first dibs on the properties. Think it over and if you're willing to work together let's meet up and finalize the details"

YOUR PITCH SHOULD ANSWER MOST QUESTIONS HE WOULD WANT TO ASK YOU IN TERMS OF THE ARRANGEMENT. KEEP IT VERY SIMPLE AND NEVER MAKE PROMISES; YOU'LL BE HELD TO THEM AND WILL BE USED AGAINST YOU.

Any time Bob. Best of luck.

dizzy; i liked your latest example (mon.) i will try that next

andrew

Exil, I agree about CL being alot of investors. I also agree about being straight forward as asking about their liquid cash. To make a deal you have to have someone with cash ready to flow.

dreamcastle, Wishing you luck!

Dizzy

As far as ghost ads go, I have them running 24/7 in nickle ads and on CL. When I first started investing I felt uncomfortable with these types of ads. But now I am more confident and the goal with this is to add to your buyers lists. tenant or cash buyer. I just tell them that one is no longer available and then I collect thier information. But you are right, if you feel you are doing something unethical then you should not do it.
ghost ads work well though.
Elixbrown,
Thank you for all the awesome tips you have provide just excellent. I have copied them and saved them so that I can use them in some future responses.

If you are calling yourself an unlicensed agent then you are admitting to being a broker in a transaction and can be subject to penalities, fines, and jail time if someone feels like they have been duped. That won't be too hard for someone to prove since you are an unlicensed agent.

Call yourself a wholesaler, dealer, locator, marketer, or whatever but don't ever call yourself an unlicensed agent unless you love being under the spot light in a room full of cigarette smoke that your eyes burn getting questioned for 12hours.