All Forum Posts by: Kelly Kormos

Here is what I send to clients. Let me know if you have any questions: Here is a list of the most common used strategies to win a multiple offer situation. Some buyers will use as many as they can, a few, or only one. We can access what would work for you and implement those with your offer. 1. Offer over list price- this is the most common and is usually done in combination with other strategies. How much over is always the question. I tell people you have to go up to the point that if you win you won’t be made that you actually have to pay that but if you find out you lost by $500 you wouldn’t say “I would have paid that”. ** One way to do this is with an Escalation Clause. If the other agent is ok using one of these (some do not allow them for their offers) then you would write something like this into your offer. Escalation Clause Buyer to Seller: Buyer to offer $500 (X dollar amount) over the highest offer up to $360,100 (dollar amount) gross sales price. If escalation clause is accepted, then listing agent to provide written evidence of highest offer submitted. - This can help you win but maybe not go up to your highest offer you would have submitted. 2. Buyer pay their own closing costs 3. Buyer pay their own title insurance 4. Buy Home As-Is pending a home inspection and nothing major is found 5. Personal Letter from buyer to seller- you could write a personal letter to the seller on why you want this home. The more heartfelt the better 6. Increase your Earnest/Trust Money 7. Appraisal Clause- Buyer will pay $X over appraisal amount as long as property appraises for a minimum of list price not to exceed agreed upon contracted purchase price 8. Waive Home Warranty- you can always purchase this yourself so it might be a way to give the sellers a little more net profit and put you ahead of others. Estimated Cost ~$600

Carly Bailey I would be interested in discussing Akron. Do you work in that area? I have family close to there in Wadsworth and bro n law in pharmacy school there. Hear good things. Would love to connect and chat. Looking to invest outside of my area. Thanks!!

Wow! That’s incredible! Happy anniversary!

@Eric Hardt and @Rich Nordstrom that is what I have been hearing- the school is not doing well.  I saw there was a hospital there but without other employment opportunities I worry about the future of being able to find tenants.  They are wanting to move out of the area so they really want to get rid of the properties so I am sure we could work something out beneficial financially for everyone if I think worth paying anything to be in the area.  These opportunities don’t always present themselves especially across the country so just want to make sure I do the best due diligence I can...thank you both for your input.  

Hi BP: Is anyone familiar with Macomb IL? This is where Western Illinois is located. Have the opportunity to purchase 3 properties from a friends parents and I am trying to learn more about the city and find a property manager. I will be calling agents there but would like to get some advice from anyone that knows the area and can discuss it regarding long term investments. I read and hear some good and bad things about the state in general and just want to make I am analyzing correctly and asking the right questions. I did order David Greene’s book today about investing out of state but wanted to go ahead and start gathering info now! Thanks Kelly

There's a TN REIA group too that does lunch every Monday and has a few other events. Then there is also an informal group formed through bigger pockets. I am trying to tag the guy that runs it so you can be informed of the next meeting but it won't let me. Shoot me your email and I will send it to him!

I didn’t yet. Have been trying to figure out how to word it...any thoughts?  Maybe we can come up with something together!

If Nashville is the mailing address the ARV won’t be $150k. Unless you are very underpriced lol. Look at Rutherford, Maury, Sumner (some parts), and Dickson Counties would be good to look at. MLS can be pretty dry for finding deals but you never know. Off market is where most deals are happening.

Anyone done this???

Hi BP: I have been spending quite a bit of time over the last month or so reading the MANY forum posts and BP blogs on direct mail and driving for dollars. My husband and I have narrowed down our first area of town and are working to build our list. What I am hoping (kind of begging lol) is if there is anyone on here that has been successful with direct mail and would not mind taking just a minute or two off line to discuss it in a little more detail than what I am finding in many of the posts. (More than happy to pay you for your time). Not just who to send what to but what we should be prepared to do once we receive a call. I have a list of questions I have put together from BP and I am an agent too so this conversation will come some what naturally to me but this is a lot of money we are looking to spend and just want a little push in the right direction if possible. I am more than happy to pay you for your time as I mentioned. We have done a little investing already but never in this manner. Only through a personal introduction or wholesaler. Thank you so much for you help either directly or if you have any helpful advice you could post here!!! Thanks!!