I Have A Deal In Pittsburgh, Pennsylvania But I'm Struggling!

12 Replies

Hello BiggerPocket family! My name is Jonathan Garrett and I have been marketing to get leads and convert them into deals. I just really shook off my sickness of "analysis paralysis" and jumped all in. I got a deal under contract currently and I am in the process of getting 2 more. Only thing is, a lot of motivated sellers don' know what they owe on the property. I feel like I might be offering to high and leaving money on the table. In some instances, I don't believe I am giving them enough to walk away with.

So my question is: Is there a software or website I can use to find out what is owed on the property? Or is a title company my only option? 

Also, has anyone found out the DocuSign is a lot better than emailing contracts back and forth to get signed?

Thank you for time!

Originally posted by @Jonathan Garrett :

Hello BiggerPocket family! My name is Jonathan Garrett and I have been marketing to get leads and convert them into deals. I just really shook off my sickness of "analysis paralysis" and jumped all in. I got a deal under contract currently and I am in the process of getting 2 more. Only thing is, a lot of motivated sellers don' know what they owe on the property. I feel like I might be offering to high and leaving money on the table. In some instances, I don't believe I am giving them enough to walk away with.

So my question is: Is there a software or website I can use to find out what is owed on the property? Or is a title company my only option? 

Also, has anyone found out the DocuSign is a lot better than emailing contracts back and forth to get signed?

Thank you for time!

With a simple phone call to the lender,  they can find the principal balance and the payoff amount.  Your offer price should be a function of your business model to make money. Flipping is a different business model than Buy and Hold, and offer price can differ when considering one over another. What the owner owes on the property is his business, not yours. In today's sellers market, you should offer the most you can, leaving a little bit of room for negotiation.  

Don't make this too complicated. 

First of all Chinmay J, thank you for taking the time to respond. I try not to make this complicated but I do not want to create a name for myself as a shady businessman. When I start to negotiate, I already have my maximum offer price in mind. Its just, some of these leads have been well below my offer prices. I understand I'm in this business to make money but these people who I talk to generally want some compensation. I have not came across anyone who owe mortgages. I currently have came across sellers who have other liens such as property tax.

Originally posted by @Jonathan Garrett :

First of all Chinmay J, thank you for taking the time to respond. I try not to make this complicated but I do not want to create a name for myself as a shady businessman. When I start to negotiate, I already have my maximum offer price in mind. Its just, some of these leads have been well below my offer prices. I understand I'm in this business to make money but these people who I talk to generally want some compensation. I have not came across anyone who owe mortgages. I currently have came across sellers who have other liens such as property tax.

For the liens that have been recorded against the title of the property, the only way that at least I know of, is to pull the title information. 

I am not sure if the rules allow me to link to other websites, but if you send you a colleague request, I can send you a link to a site that is used by many investors to check title information, without doing a full blown title search. 

Docusign is a good tool to have.  Personally, we use RightSignature because it's cheaper and integrates directly with our CRM, but having the option to electronically sign will definitely save you time especially if you're doing a lot of deals.

@Mike Pastor- I will get that. What CRM are you using? 

@David Weinstraub- I tried calling the county tax collector and they said they had to send it to the property because I did not own it. I think I just go to the county court house and look through the gigantic books. 

Sorry for piggy backing on this post to ask another question but @Mike Pastor when you use RightSignature in your business, has it been accepted by everyone involved such as attorneys and title companies, etc. I ask because I’ve used Docusign in the past but might switch to RightSignature because it’s not as expensive, it connects to Podio(looking to use in my business), and I didn’t need everything that Docusign offers.

Originally posted by @Jonathan Garrett :

@Mike Pastor- I will get that. What CRM are you using? 

@David Weinstraub- I tried calling the county tax collector and they said they had to send it to the property because I did not own it. I think I just go to the county court house and look through the gigantic books. 

 I use Podio.  It's $14 bucks a month per "employee" if you are using the Pro version (which I suggest), and it is highly customizable and great in building in automation.

Originally posted by @Brian Woods :

Sorry for piggy backing on this post to ask another question but Mike Pastor when you use RightSignature in your business, has it been accepted by everyone involved such as attorneys and title companies, etc. I ask because I’ve used Docusign in the past but might switch to RightSignature because it’s not as expensive, it connects to Podio(looking to use in my business), and I didn’t need everything that Docusign offers.

 Yes, RightSignature is widely accepted as well.  I just save off the PDF and send it to the title company.  There's no difference. 

Thanks @Mike Pastor , for this info. I’m definitely going to consider getting an account.

@Brian Woods-You did not just jumped in, you helped with questions I was about to ask Mike Pastor. Thanks for the jump in.

@Mike Pastor-Thank you for your time again. I believe this is the second time you have helped me. 

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