All Forum Posts by: Jeff Warner

I totally agree about building rapport, that's a must in any business relationship.

Jeff

Great replies everyone.

Dwight,

Your experience with that agent is similar to what I've had so far...my wife and I met with a realtor for an hour and it seemed like she understood investors and what we wanted to do...then we never heard back from her...ever! Oh well.

I brought up this question because there is a realtor (happens to be a buyers agent) that I know that has expressed interest in working with us. I'm thinking about giving him a shot but I'm still on the fence about it.

Jeff

I'm curious how many people use a Buyers Agent to flip REO's instead of going directly through the Listing Agent? If so, are you having success?

I'm NOT trying to go the route of making 100's of lowball offers and burning out a realtor...I know a buyers agent that is ok with wholesaling and basically just wants to get deals done. Before talking to him I was curious if anyone has had success going that route.

Jeff

Thanks Chris, glad to be helpful. Good title companies are a crucial part of the REI business. Good luck with your business.

Jeff

Well said Jon. Your explanation of my thoughts is very thorough and easier for a retail buyer to understand.

Jeff

Are you sure they're not trying to negotiate a Short Sale from the bank? Short Sales, when listed with a Realtor will sit for ever while the realtor takes offer after offer to present to the bank.

Either way I think your in a different situation. You need to do your due diligence, have a solid inspection and be sure that you make your yes or no decision before the inspection period ends. The bank is probably thinking your trying to buy time to flip it and they don't want you to walk if you don't find a buyer in time. Just my opinion.

Jeff

Your going to have to put the house under contract and assign it to your buyer, like you mentioned to get paid. Since he's not looking to flip the home you should be able to profit without it being your typical wholesale deal.

I would still try and negotiate a better price so when the guy see's it on the MLS or see's the flyer he doesn't think you "screwed" him. Retail buyers don't have the same mentality as investors and typically don't like people making money on a deal.

Jeff

I think your referring to a bandit sign? What did the sign say? Usually you won't see a sign on a potential deal, if you do it's most likely because someone else got there before you did.

Can you give some more details?

Jeff

Thanks for the replies guys. I decided to just call the guy and see what the deal was...turns out its not just that building that he owns, he also owns 2 acres of land with approx. 30,000 sq. ft. of buildings directly behind the one I was looking it. He has everything rented except for the one I've been looking at and does not want to sell at this time.

I asked if he was willing to split the land and sell off the vacant building and he said no.

Oh well, on to the next one. Again thanks for the replies, I didn't get the deal but at least I learned something new.

Jeff

Sounds good, my number is on my profile.

Jeff