Putting offers in on properties - Be 1st or be last

Buying & Selling Real Estate
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Putting offers in on properties - Be 1st or be last

Vasant R.
Plano, TX · Member since 2017 · 12 posts · 0 votes

I've been having a hard time finding a property to purchase. As soon as I seem to find a decent property there are multiple offers on it. I've ended up putting in the offer anyway, but nothing has come out of it yet. I remember hearing Brandon Turner say to try to be the 1st offer or the last offer (either on the podcast or a webinar). I'm always trying to be the 1st offer, but it just hasn't happened yet. How can you be the last offer? If you wait too long before submitting the offer, I'd assume you'd miss the window and the seller will not accept new offers - right? Can anyone shed more light on this? 

Thanks

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Christopher Charles
Wholesaler · Miami, FL · Member since 2015 · 39 posts · 43 votes
9y

@Vasant R.

Find a mentor. Untill you get one. Here 

  1. Send mailers to out-of-state landlords of multifamily houses
  2. Send mailers to absentee owners of single family houses
  3. Send mailers to vacant land owners (only in specific areas in the path of growth)
  4. Place “We Buy houses” flyers/business cards at unemployment offices….a lot of people there could be having trouble with their homes and may need a solution
  5. One-page Flyers posted on bulletin boards at large stores
  6. Post ads on craigslist stating, “We Buy houses”
  7. Send emails to craigslist ads with properties for rent (the emails will go to landlords who may be looking to sell, or buying more properties)
  8. Mailers to specific zip codes, asking if they want to sell or know someone who does
  9. Mailers to divorce attorneys who can refer clients
  10. Mailers/emails to FSBOs
  11. Buy a “leads list” of landlords from AgentPro247 or RealQuest
  12. Post ads on Backpage stating “We Want To Buy Your Property”
  13. Send mailers to properties purchased between 3k-20k within last five years (the owner might be a novice flipper who never did anything with the property)
  14. Send mailers to Estate/Probate Attorneys (if you have an attorney, consider having them send the letter, because attorneys tend to open mail from other attorneys)
  15. Bandit signs: “We Buy Houses”
  16. Send mailers to owners who have owned for 15 years or more (these properties tend to be owned free and clear, which means they could be much more flexible with their sales price)
  17. Send mailers to people facing foreclosure
  18. Target people who own vacant homes – these are almost always ripe for purchasing at a discount
  19. Target people who are dealing with financial chaos of any sort
  20. Send ads/mailers/business cards to Credit Repair Agencies & Credit Counselors
  21. Target HUD/VA Foreclosures
  22. Purchase leads lists of folks who inherited homes
  23. Send mailers to people arrested for violent crimes (going to prison for a long time)
  24. Send Mailers/ads/business cards to Realtors
  25. Send mailers to employees who have been laid off (ie “corporate downsizing” in the news)
  26. Networking with other investors
  27. Locate list of section 8 approved properties—send mailers to the owners
  28. Post Newspaper classified ads: We Buys houses
  29. Send mailers to Properties with liens: Mechanics Liens, HOA Liens, Tax Liens
  30. Contact sales people at new home subdivisions (their clients will want to sell their OLD houses) or place a sign near a new home subdivisions that say “Sell Your House Fast” with your phone number. Often times, these new owners will be desperate to sell their old houses ASAP.
  31. Contact mortgage companies; they may know of people wanting to sell their old house/last house
  32. Hire bird dogs (sometimes even through craigslist “help wanted” ads)
  33. Send mailers to Bankruptcy court listings
  34. Send advertisements, business cards to Accountants and CPA Firms: They have clients with financial problems where an investor can be of help.
  35. Send ads, mailers, business cards to real estate attorneys
  36. Advertise “We Buy Houses” using Apparel with Logos: Hats, T-Shirts, Golf Shirts,
  37. Send to anyone getting their car repossessed: If the car is going the house isn't far behind.
  38. Send ads, business cards to carpet cleaners: Many of their customers are preparing a house for sale.
  39. Send mailers to charitable groups/churches: They frequently receive gifts of real estate, but they'd rather have the cash.
  40. Send ads, business cards to City & County Inspectors: Code violations and red tags. (If you develop a reputation of buying distressed properties and improving them, you become an asset to the community)
  41. Place ads on boards at Nursing & Retirement Homes: Frequently residents need to sell a house.
  42. Consider placing Door Hangers on target properties: You can also use pre-printed post-it notes to leave messages at target properties. Be sure to advertise on both sides, you can even sell the back side and recover your advertising cost!
  43. Send mailers to addresses of people having Garage Sales: Are they moving?
  44. Send mailers to Hair Salons/Barbers: These places are social hubs – lots of talking going on during haircuts
  45. Send mailers, ads, business cards to Insurance Brokers: Policy changes from owner occupant to landlord or vacant house coverage.
  46. Recruit Mail Carriers to notify you of vacant properties
  47. Send mailers to owners of multiple properties (target them to offload portfolios)
  48. Post advertisement in PennySaver type papers: “We Want to Buy Your Property”
  49. Send mailers to water, gas, and electric company shut off lists
  50. Or, just buy leads from:
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  • Frederick Kirk Wendel
    Custodian · Lander, WY · Member since 2017 · 59 posts · 29 votes
    9y

    ROFL @Christopher Charles that is like a webinar on marketing in one post!

    Cut and paste. Thanks

    still giggling

    Kirk

    0Reply
  • Vasant R.
    OP
    Plano, TX · Member since 2017 · 12 posts · 0 votes
    9y

    @Cornelius Garland

    Thanks for the advice. I'm going through an RE Agent, so I (myself) don't have contact with the seller. Do you suggest that I ask my RE Agent to contact the seller to follow up on the offer? How do you handle this when working with an Agent?

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  • Cornelius Garland
    Wholesaler · Charlotte, NC · Member since 2015 · 398 posts · 680 votes
    9y

    @Vasant R. Yes, I would stay on top of your agent to ensure your offer is at the forefront of the seller's mind. You could always contact the seller's agent to get a gauge on where your offer stacks up with the others. That might be the better route to go.

    0Reply
  • Vasant R.
    OP
    Plano, TX · Member since 2017 · 12 posts · 0 votes
    9y

    @Cornelius Garland

    Great! Thanks for the insight.

    0Reply
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