12 Units why are there no real buyers

here are the propeties that are currently siting in escrow waiting for a buyer to come up with $295,635. why is there no real interest in this dea. and ther person who had me put them undercontract just stopped returning my phone calls after i asked for an earnest money deposit.

why don't people return phone calls?
what am i not seeing about this deal?
It looks great to me.
I tried to get a HML but they won't return my calls either.
I even went as far as putting up some money to get a JV partner but there are still no takers.

where else should I look?

Edited: 06/26/2010 at 11:15AM

Myka M.

Real Estate Investor · Dayton, Ohio

145 posts
5 awards
50 influence

Jan 17 '10, 07:46 AM

I am not sure why people act the way they do. Some people are all talk, some are action. How are you marketing your properties?

Edited: 06/26/2010 at 11:15AM

Jeff B.

Real Estate Investor · Lake Worth, Florida

154 posts
1 award
50 influence

Jan 17 '10, 08:28 AM

Hi Katherine,
I don't know your market that is why looking at that spreadsheet it was a little unclear if these are properties that are for sale and rented, rehabs with potential buy and hold buyers, or rehabs to retail.

To be honest you need to find investors that are serious and not tire kickers. There are HML members on this board that maybe interested if your experience and properties check out. Just don't stop networking and try the RE Investor meetings but beware that in my opinion about 60% of the investors at those meetings are tire kickers and Not serious.

The main thing is once you start giving somebody a good ROI then the word will start to spread and more investors will start to surface.

Edited: 06/26/2010 at 11:15AM

Katherine Thorpe

General Contractor · Cleveland, Ohio

49 posts
1 award
50 influence

Jan 17 '10, 09:20 AM

i thought that the spreadsheet made it very clear that there is an asking price and the notes tell you that the property is rented or not section 8 or not there is a column that tells you how many units there are. i admit that there should be the appraised value column but then they tell me that they want to see the actual appraisal form. then the next thing i know there is someone telling me that someone else has brought them the same info.

myka i advertise here and REI clubs, INternet groups and even went as far as going to postlets craigslist everywhere that i can advertise i have done so.

Edited: 06/26/2010 at 11:15AM

Sanjiv Neal

Real Estate Investor · Indianapolis, Indiana

243 posts
3 awards
50 influence

Jan 17 '10, 09:54 AM

Many speculated and sit on the fence. Keep us informed on your marketing changes and how it helps; if so. Good Luck. I run into the same problems sometime

Edited: 06/26/2010 at 11:15AM

Peter Giardini

Real Estate Investor · Baltimore, Maryland

Donor

565 posts
11 awards
57 influence

Jan 17 '10, 10:53 AM

One of the issues is that it looks like they are being offered as a package. For many investors, finding financing for a package of single family and duplex deals is very hard in todays market.

Is it possible that each of these properties could be purchased individually? While I know that may cause other problems... like the dogs being left for last to sell... this approach may get some buyers to move.

Best of luck!

Edited: 06/26/2010 at 11:15AM

Katherine Thorpe

General Contractor · Cleveland, Ohio

49 posts
1 award
50 influence

Jan 17 '10, 09:54 PM

I have said that they could be purchased individually or together in other posts.

and then all people do is ask questions but then make no offers or too low offers but aren't willing to negotiate.

can't negotiate without any offers.

Edited: 06/26/2010 at 11:15AM