Buying Big Properties

7 Replies

Hello hello! When going after some of the bigger properties, Bios are almost just as important as the offer. I’m figuring this out submitting offers that sellers, brokers, owners all want to see track record and experience.

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Originally posted by @Jon Sidoti :

Hello hello! When going after some of the bigger properties, Bios are almost just as important as the offer. I’m figuring this out submitting offers that sellers, brokers, owners all want to see track record and experience.

 or money, which at the end of the day is all they want from you. Show them you actually have the funds.

What seller actually cares if you have a track record or experience to be successful after they sell to you- especially after most likely ripping you off for an outrageous price to begin with because they can in market conditions like these.

Think I'm wrong? Imagine your selling some BS 3 cap commercial building and you want 5M. You have two buyers. An experience veteran who can raise the 5M, but wants to inspect and know his *** from a hole in the wall, and an overnight bitcoin millionaire with 0 REI background but he'll pay 5.5M cash right now to lock up the deal. Be honest, who are you going to pick.

Actually gotta follow this up with a real world example. Names and location omitted for privacy reasons.

Woman with wealthy husband(entertainment executive) decides she wants to play with Real Estate. Husband agrees. They go to some broker and he shows her 3 properties- second largest city in the US, and he shows her 3 properties to choose from. That was the extent of her search. Goldilocks style, one was to big, one was to small so she picked the one in the middle. Husband somehow agrees with all of this. The property was a full reno job that had been siting on the market for a year and 1/2, and she was the only one in all that time who would offer the full 2.5M. Don't ask me how I know, but I do, from both sides, buyer and seller. She bought a dog.

No where along the line did they care about her experience, only the fact that her husband was good for the funds. Period. Their lack of experience was actually a bonus to the sellers.

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