How to Weed out the tire kickers

10 Replies

I have a great new home under contract that has a wonderful ROI. Asking is 78k with only 10k worth of work to be done. Seller is a contractor but fell ill so cant finish the job. Title free and clear and ARV is 130k. The problem Im having is that there are alot of tire kickers requesting the address before asking any questions about the property. The numbers are really good and its a potential 40 to 50k profit if resold after a fix and flip. Or could be a great rental property. Its in a smaller town with quiet country roads. I thought buyers would be jumping at this deal but instead i have been getting non serious inquiries or just looky loos. Any advice on how I can weed out the bad apples quickly???
 Any advice on how I can weed out the bad apples quickly???

Require proof of funds earlier in the conversation. 

I have never bought a property without the seller giving me the address. How can I as a buyer research the property and make a decision to buy based on the numbers. The seller saying it's good numbers tells me nothing. I'm confused why giving the address to a potential buyer makes them a tire kickers. As a cash buyer I don't have time to play 500 questions game with a seller.

Address? Why on earth would you need to know the address of the property the "seller" is apparently "selling"? Shouldn't buyers just jump at the numbers and send a check? That's what the 15000$ seminar said they would do! Surely they weren't lying?!  LOL

@Clifford Paul I think I was inclear the way I stated it. When I say ask for the address basically they know that I am a wholesaler and they ask for the address to then contact the original owner to haggle my price or x me out of the deal all together. Although the seller is under contract with me there is a clause in there that states they are able to get out of the deal if they see fit. This is just a personal experience I have had. I myself have no problem giving potential buyers all the info they need. But some are just shady.

@Jacque Sacramento no negativity please. Nothing about my numbers are suspicious. I have gotten paid for deals before but am still new and learning so if you arent offering advice to help then please dont taint my question by insinuating that its a shady deal. Thanks!

@Account Closed

Buyers will need to know the address so they can do some research. As a wholesaler, I would never believe what another wholesaler (or seller) tells me in regards to the numbers lol

I'm confused why you have a clause that lets the seller cancel anytime. Then what's the point of the contract?

You said it's 40-50k profit but I'm not really seeing the math. Did you consider buyer's financing cost, realtor commission and closing costs?

To answer your question:

I know serious buyers already who will see the deal first. If someone new is interested, I'll give them a call and talk about what they're looking for, their experience, how they are financing, etc. If they are a tire kicker, you'll be able to tell. Also, like Chris said, you can ask for POF.