All Forum Posts by: Robby Sanchez

Hey everyone! I'm was wondering, will lenders always require a sponsor for larger loan amounts if you don't have any experience with multi family property management/investing? Thanks everyone for taking the time to read this post.

Quote from @Bob S.:

Quote from @Mike Dymski:

Quote from @Bob S.:

Quote from @Mike Dymski:

I prefer this situation...it's more efficient for you.  Your summary is right on...make an offer and adjust after the walk through (if needed).  You have leverage at that point.

 His realtor is an idiot, Wants him to make an offer without even getting in, total waste of time, another reason I never use them, 

It's not his realtor...it's the sellers' realtor and requirement.  As others have mentioned, this is a common practice with a basic five minute solution.

 Common hmm,, I am doing these 10 years about 50 mill in deals, never once has anyone said, make me an offer before you see it. Complete waste of time. Fill out all the BS realtors paperwork, and you may not even like the layout of the house. Very INefficient. 

 I can definitely see your point of view sir but as a new investor, I think this may be an opportunity for me considering most experienced buyers may pass it up just because they don't want to go through all the trouble or deal with the seller and they have the capital that allows them to be more picky. Could be both a learning opportunity and a good place to start for me. Not going to rush into anything but I can see both sides. 

thank you sir

Quote from @Douglas Mallett:

some brokers will put this restriction on listings... there is an easy way around it.

just submit an offer with inspection period and/or neighborhood review, and take a look. 

amend the offer after walk through, or terminate.

if the listing broker is not forthcoming, sometimes a call to the managing broker can clear things up. 

that's all.

all the best!

Thank you so much for your reply.I swear I love this community and other mentors who put their info out there for others to learn from! I cannot wait to help other people as much as everyone here helps me and everyone else. This is one main reason why I got into RE is because I realize I can help other people along their journey just like everyone here and other places has helped me. RE is beautiful in that way. It allows people to bring real value to others. There are other ways in our daily lives to bring value to others but RE brings a value unlike anything else. 

Thank you again!

Quote from @Bob S.:

Quote from @Robby Sanchez:

Quote from @Bob S.:

Quote from @Robby Sanchez:

Quote from @Bob S.:

Quote from @Robby Sanchez:

I have a deal I'm interested in and would like to know more about it but the broker specifically says "there can be no showings until a contract is executed" what exactly does that mean? I understand I have to submit an offer before I can see the property but How am I supposed to come up with an accurate purchase price if I don't even know what the insides of the units/amenities look like? Do I just submit an offer based on the information/pictures provided and then retrade if there's things that come up during the due diligence period after I have already submitted the offer? 

thanks everyone! 

 You are 100% not understanding the realtor, NOBODY is going to ask you to put in an offer until you see it. If the realtor is really saying hey sign the contract before you see it , she should be disbarred.  

PLEASE connect with someone doing deals, learn than apply what you learn, 

 I'm not understanding the realtor?....... this is why I made this post in hopes that someone COULD help me understand the realtor without me having to ask them directly. This is a multifamily property. 

thank you for your insight 

 It does not make a difference if SF or MF. Keep it simple. As , are you telling me you want me to give you an offer without even going in? If they says yes well something is seriously wrong. Again please connect with someone doing deals, 

All the ebst  

Thanks Bob! I appreciate your reply and advice and I apologize for any inconvenience. I thought this website was for both veteran investors and beginning investors alike to post questions and/or interests. 

It is sir, please do not misunderstand me. You will only gather so much information online. Best to connect with someone and learn hands on, just like I did about 10 years ago. 
All the best to you 

I apologize sir for misunderstanding. I admire your ability to learn hands on and work hard to get to where you are now. 

Quote from @Bruce Woodruff:

If they really will not let you walk/inspect the property without an executed contract, then you have 2 options.....1) run, 2) offer really low and see what they say.

I'd just pass, I don't like playing games like this.

Yeah my initial question for the realtor was why the property has been listed for so long (about a year) and his reply was "all of the offers we've been getting have been below what it's worth". I then asked him if I could see the property and he replied with that 🤣. Guess that explains why he's been getting low offers🤷‍♂️

Quote from @Bob S.:

Quote from @Robby Sanchez:

Quote from @Bob S.:

Quote from @Robby Sanchez:

I have a deal I'm interested in and would like to know more about it but the broker specifically says "there can be no showings until a contract is executed" what exactly does that mean? I understand I have to submit an offer before I can see the property but How am I supposed to come up with an accurate purchase price if I don't even know what the insides of the units/amenities look like? Do I just submit an offer based on the information/pictures provided and then retrade if there's things that come up during the due diligence period after I have already submitted the offer? 

thanks everyone! 

 You are 100% not understanding the realtor, NOBODY is going to ask you to put in an offer until you see it. If the realtor is really saying hey sign the contract before you see it , she should be disbarred.  

PLEASE connect with someone doing deals, learn than apply what you learn, 

 I'm not understanding the realtor?....... this is why I made this post in hopes that someone COULD help me understand the realtor without me having to ask them directly. This is a multifamily property. 

thank you for your insight 

 It does not make a difference if SF or MF. Keep it simple. As , are you telling me you want me to give you an offer without even going in? If they says yes well something is seriously wrong. Again please connect with someone doing deals, 

All the ebst  

Thanks Bob! I appreciate your reply and advice and I apologize for any inconvenience. I thought this website was for both veteran investors and beginning investors alike to post questions and/or interests. 

Quote from @Doug Smith:

I've seen this before and it's total BS and for lack of a better term...stupid. I've seen it where there are tenants in place that the seller doesn't want to know about that they are planning on selling the property. Of course, you'll definitely want an inspection contingency and I wouldn't put an EMD in prior to seeing the property. Good luck.

 Thank you for your reply sir! I completely agree and that's why I'm wondering how I should proceed. Guess I should just pass up this one considering something schiesty is going on.

Quote from @Bob S.:

Quote from @Robby Sanchez:

I have a deal I'm interested in and would like to know more about it but the broker specifically says "there can be no showings until a contract is executed" what exactly does that mean? I understand I have to submit an offer before I can see the property but How am I supposed to come up with an accurate purchase price if I don't even know what the insides of the units/amenities look like? Do I just submit an offer based on the information/pictures provided and then retrade if there's things that come up during the due diligence period after I have already submitted the offer? 

thanks everyone! 

 You are 100% not understanding the realtor, NOBODY is going to ask you to put in an offer until you see it. If the realtor is really saying hey sign the contract before you see it , she should be disbarred.  

PLEASE connect with someone doing deals, learn than apply what you learn, 

 I'm not understanding the realtor?....... this is why I made this post in hopes that someone COULD help me understand the realtor without me having to ask them directly. This is a multifamily property. 

thank you for your insight 

I have a deal I'm interested in and would like to know more about it but the broker specifically says "there can be no showings until a contract is executed" what exactly does that mean? I understand I have to submit an offer before I can see the property but How am I supposed to come up with an accurate purchase price if I don't even know what the insides of the units/amenities look like? Do I just submit an offer based on the information/pictures provided and then retrade if there's things that come up during the due diligence period after I have already submitted the offer? 

thanks everyone! 

I never understood how taking people out to lunch gets you anywhere. It just seems like you're trying to buy their attention. I've heard that it works though. Seems that raising the capital is the hardest part. My plan is to start small and gain some credibility until I can present opportunities to investors without feeling like a relationship counselor who's never been in a relationship lol