How many offers today?

Question

As an investor, I have put in lots of offers.  I didn't get any accepted on the last 10.  Currently there's a lot of competition.  Today, I submitted 15!!!  Let's see what happens...How many did you put in today?  However, the last one I got mid Feb was a winner!!..keep it MOVING!!!

Will Barnard · Answer

It is definitely slim pickings out there on the MLS, but I seem to have a knack for getting deals even in this tight market.

Will Barnard · Answer

I have not offered any today, but did 2 yesterday and about 4 earlier this week. Got one and am in first back up position on another tat is an easy rehab flip that should net about $60k with only $375k investment.
The deal I locked has $300k spread and will take $1m in capital.

Account Closed · Answer

I have no doubt that CA investors are in your area.  They'll go anywhere. :)
$3-5K mark-up?  I can't imagine getting a contract with the expectation that I'll only make $3K.  Haven't done that in a long time, and certainly never intentionally.  Maybe it's a CA thing. Or maybe it's true what my fellow investor's say about me.  I expect deep profits.  Less deals but WAY bigger profits.  That being said, going after higher profit margins means  there's always the chance of a dry spell.  Slow and steady can win the race too.

Rolanda Eldridge · Answer

@K. Marie Poe.MLS is easy search, because I'm not using other marketing techniques...If MLS completely dries up, I will get more creative...lots of CA investors buying in my area also

Will Barnard · Answer

Tim Gordon - In my opinion, I do not believe it is wise (especially here in So CAL) to eliminate any potential option to obtain a deal. Aside from the fact that I don't agree with your assessment given, even if it were true, then simply form relationships with those list agents and let them double dip.
I am proof in the pudding that making offers on the MLS works here in So CAL. Can't argue with success. What gives me my edge is my knack for picking the right deals, forming relationships, making all cash offers, no contingencies, quick closings, large EMD's, and my performance history.

Point is, do direct marketing and continue to make MLS offers, regardless of how many it takes to land one. After all, its only work! :)

George P. · Answer

just found out that the bank would not approve a short sale on one that the homeowners accepted 2 months ago.

the other SS is still moving, which is a good sign.

i am on MLS exclusively, with listing agents only. i gave up on my agent (for buying )long ago. she is amazing picking up tenants though.

Account Closed · Answer

Tim Gordon  If you're not working the MLS in CA, you not be aware that a huge number of agents will not work with unrepresented buyers. So while you think they are motived by 6% versus 3%, it's actually about volume and efficiency.  There are some listing agents who develop relationships with certain buyers and they'll get first dibs.  For the most part though, contacting listing agents directly will be a waste of time for many.

Tim G. · Answer

My personal opinion, and I do not touch ANYTHING on MLS. So take this with a grain of salt.

If you are making offers on anything and not going direct to the listing agent you are probably wasting your time.

With 80+ offers you think anyone is going to take a 3% check instead of a 6% check? No way.

Again, I avoid MLS for this very reason so I could be way off but if I were the listing agent I'd be taking the offer that came through me.

*This is for SoCal markets*

James Hiddle · Answer

Maybe it's that boyish charm of yours Will :)

Shaun Reilly · Answer

None today.
Been in a little bit of a slow spell right now.
Have done upwards of 35 in one day.
20+ isn't out of the ordinary (This would include putting in new offers on places where I didn't have one accepted before, therefore no new analysis).

When I crank out that many most would have been ones that have fairly easy online submission forms.

How many offers today?

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