All Forum Posts by: Ron Harris

Trying putting in all your ads and signs in front yard "Realtor Commissions Honored"... and/or will pay full buyer commissions etc.

Ron

I'd take the conventional over the others just because there are less issues to resolve.

Ron

I don't like doing open houses myself... However, I don't mind realtors doing for us!

Ron

I just wouldn't give over the keys and not complete signing the paperwork until they have everything ready.

I'd get the second appraisal. It'll make everyone happy. Lenders are dense and scared and sometimes they don't GET IT!


Ron

From an Investors point of view: Read fully so you don't kill me!

Most RE Agents are not that great...it's the 80/20 principle. 20% of the agents have 80% of the business. The 80% just aren't that great. It seems the days of just listing a house isn't enough and open houses are not that effective. I've sold houses on Craigs list and made a killing so it's getting harder for RE to compete with FSBO. Though, the MLS is extremely valuable so a catch 22.

Now, out of that that 20% RE agent that likes to work with investors is WORTH EVERY COMMISSION paid! Yeah, it's easy to sell one house every few month but when you start selling a lot...different story. We're actually looking for RE agents that can sell houses...not just list them; and can work with investors. We're now at that point where for us to grow we need to outsource more.

So again, if you can find an agent that can sell, pay them well! We're all limited by the amount of time so focus on system building!

So here is a question: What 3 questions would you ask for an Agent to get the best selling agent possible?

Ron

Also: Go ahead and start going to the REIA even though the owner didn't want you. If it goes bad, just SEO your website to beat out his, grin.

He's probably loyal to you: why did he tell you about the other wholesaler? Most likely, he'll stick with you with every property you bring. Of course, he'll still buy from someone else on other deals. He isn't exclusive to you just as you are not exclusive to him. We've tried this exclusive type arrangements and it doesn't work well.

Plus, you can remind him that many wholesalers SUCK! Over priced, under estimated repairs, and generally not good deals. Remind him that you also provide a good service to him and get things done.

If for some reason, he is pushing you too hard (you can give in a little) I'd remind him, again, that you've been tossing him the deals first and that you have other investors getting mad at you for not showing them the deal first.

Lastly: NEVER KILL YOUR GOLDEN GOOSE or CASH COW!

Ron

We sell properties close up to 90% of value to retail buyers even though we've only owned the property less than a few days. However, they have to be cash buyer or a local bank that will portfolio the loan. There are ways around the seasoning over 20% purchase price with FHA but we haven't tried it yet.

Our mentor has done hundreds of contract for deeds using subject to. If you can get long term financing i'd go for lease option or contract for deed. Doing quick flips is okay now and then, but getting tax for short term is not fun. You want long term capital gains, plus having lots of rentals has many benefits (just sell a few for LO/C4D and you'll have pay days every year or so).

Maybe distribute flyers throughout the neighborhood that code enforcement with officials will be monitoring the neighborhood for the next 2 months for the "neighborhood watch" and reporting violations to the police, housing authority, census, DHS ...etc. Plaster the neighborhood, but make sure they get one too (on each car).

Of course, you probably should find out if you can actually distribute something like this or you may be in trouble, too.