All Forum Posts by: Bob C.

I was listening to Podcast Show 81 the other day and one of the things Michael Quarles said really surprised me.  He said that when someone calls him to sell them their house, he does not (ever) make an offer. He (essentially) starts the price conversation with "what do you think your house is worth?"

Reasons for doing this are

-He (Michael) doesn't want to be the one to tell them that their house is (probably) way over valued.  He doesn't want to be the bad guy.  (We've all been there, right?)

-If they don't have a value, then he asks them to find out what the value is AND THEN CALL HIM BACK. (WOW!)

He lists a buncha of good/rational reasons he does this.  And they all sound good... but wow. 

I'm inclined to try it, but I'd be scared to let the people off the phone and take the chance of them never calling me back again.

Does anyone else use this strategy?

Hi Cristian-

Look into MHV RIEA.  They just set up the "Private Money Machine" (A list of hard money lenders who are members).  www.mhv-reia.com  It just got launched about a month ago.

 That movie instantly cured me of EVER being a landlord.  ;-)

Not sure if this is a NYS rule or Fed...

IF you test it 

and 

IF Toxic mold is found 

then

You have to disclose

@Shane W.  Yes. As a serial entrepreneur I have been on the receving end of that setiment my whole life.

Also what @Justin Scarborough  said!  I never noticed that until he just said it.  YES! LOL!

Get someone with insurance!!

All the dude has to do is fall off the ladder and you will be supporting him and his family for the rest of his life.   I've seen than happen and it scares the crap out of me.

I'm willing to pay $500 for anyone who hooks me up* with a deal.  (it hasn't happened yet, but it's right on my card and I tell every landscaper, attorney, mail person, barber I talk with )

*I close

I would guess, if anything, it's going to be banks foreclosing on properties that have long been abandoned.  Properties that they just haven't gotten around to foreclosing on. THAT's what I see COULD (and WISH would) happen.  I don't see a bunch of new people getting the boot. 

I see A LOT of houses around here that are returning to the earth because no one has lived in it for 4-7 years and the bank has not foreclosed.   

Rust? ...from the (steam blowing out the) pressure relief valve (chrome thing on the side of the radiator)

Thanks @Jonathan B.  And my 4th house is even closer than that... it's in Putnam county  :-)