Hi BP Members....I'm a long term investor and invest in duplex & single families. I looking to buy more properties and plan to write more more more OFFER in on "Properties On The Market for more than 90days" (I worked with couple of realtors, and none of them want to write too many offers at 25%-30%OFF or offer without see the property....and now I want to write my own offer).
MY QUESTION is should I offer direct to the OWNER or to the realtor? Can I just sent out OFFER without make appointment to see the property first? What offer form to use (same as the form realtor use)? What if I have 3 diff. Offer options for that owner: cash offer, sub-to, conventional?
How do you target PRE-FORECLOSURE??? so far I only look at ZILLOW, I don't know how accurate it is. If you know where & how to find PRE-FORECLOSURE, please let me know...Thanks in advance
PS: How much different to offer between (cash offer, sub-to, conventional)....let say the house list for $100k. Cash offer $70k, Conventional $80k, Sub-To $90k??? Or Any idea
I am a licensed agent here in Grand Rapid and I make multiple offers on houses often for my own investments and for other investors. You can contact the listing agent and make an offer through them but you have understand they are representing the seller and not looking out for your best interests. Plus if you want to make significantly low offers some agents won't even waste the time to write it. If you make offers to owners directly I recommend using a standard purchase agreement form that a local agent would use. I can provide a blank digital copy if you would like one.
Let me know if you want to chat sometime I would be willing to work with you and help you find some properties in the Grand Rapids area.
As a listing agent, I generally advise-strongly-not to accept offers from people who haven't even seen a property...they're just generally throwing sh$$ against the wall, to see if they can tie something up, then go look at it and decide. It wreaks of wholesaler shotgunning.
hey Jake....I got your phone number, I properly call you next week or so. Thanks
If you want to write your own offers and want to be taken seriously, I highly recommend getting your own real estate license.
If this is someone you are going to consider, why not get a license yourself and have access to offer documents with the Realtor Association.
I would advise getting a Real Estate Attorney to write the offer but only after having a verbal discussion with the Listing agent.
@Jack Nguyen This is a strategy I've tried in the past as a wholesaler here in Grand Rapids. My execution was probably weak at best, but like @Wayne Brooks mentioned the strategy of spamming out offers to 90 DOM (or other) reeks of wholesaler. In the end I think I managed to spam out 10 offers and no agent ever responded... except one who just wanted to troll me. I guess I can't blame him it was a monday after all.
Getting a license may or may not help you seeing as the market here is pretty decent and investors are making offers on everything, but I think it would add some credibility to your offer seeing as Grand Rapids is hit pretty hard with wholesalers from all the gurus that go on tour through here all the time and the agents know it. Dealing realtor to realtor might help. It also depends on your exit strategy if you're aiming for rentals, flips... or a rental rehab flip (not as much competition, but requires more capital).
I think you should look for the wholesalers in your area, they will find good deals if you tell them exactly what you want or need.
Gabriel! Thanks....I'm going to
Hi @Jack Nguyen - In my opinion, if a house is listed with a realtor, you should always work with that realtor. In many cases, that may require you to be a realtor yourself, or to be working with them. Trying to 'work around them' leaves a bad taste in people's mouths, and isn't a good long term strategy.
And to answer your question on the networking, a lot of people on this board go to the meetup at Buffalo Wild Wings. (:
@Brandon Krieg...Thanks, that help a lot. I will try to come to the up coming MEET UP.
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