REAL Buyers List

Now thats what I call smart networking and building a solid buyers list. Way to go Mike!! Ill remember that one.....

That's so true! I also never understood auctions, a lot of people bid based on their emotions and NOT based on business. I've attended couple auctions, met great people but never bought anything there. All the properties that I was interested in bidding, people just drove prices way way to the sky. I am not sure if you've seen a show on Spike TV, The Flip Men. They buy properties at auctions in UT, make some money when flip the properties but lose in others. You can see where they make their mistakes.

Know if any of y'all have ever seen a tv show called storage wars, I think? I saw it once and it was hilarious! If you ever want to know why we as investors don't BID on properties, go watch that show. That is a prime example of losing control of your emotions with a most often bad result.

Mike, that is the way to do business! You made yourself a trusted authority and made yourself NEEDED. I'm pretty sure that most of the investors you work with think, "What would we ever do without Mike!", lol.

RENinja

I've only bought 1 on auction and it was just 2 of us bidding on 3 properties. He got the 2 he wanted, we got the 1 we wanted. We both got them for the opening bid as neither of us bid against the other.

Since they're not all that way, we haven't won one since. Auctions drive up your emotions as well as the prices. You didn't drive all of the way there to go home empty handed did you?

Mike, you are doing a great job driving the bankers crazy and keeping your buyers wanting more. Way to go!

EASY

lots of sense to me! I'm gonna attend more auctions.

Thanks for this info Mike!

Linda

I really need to head out to the auctions now and talk to some real buyers!

Hi Mike, now thats another way we call creative Realestate Investing and you filling three needs, the seller, buyer, and your yours the in between investor, win-win for every one, greed solves nothing but Banks havent learned that yet, way to go Mike were proud of you, much appreciated, Jim

alot of it is common sense

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Be sure to "qualify" buyers to get real buyers

REAL BUYERS are ones that have bought and are buying properties, NOT just blowing smoke and TALKING about it

buying at an auction, go on a rainy day, you'll usually have less competition and can buy at a lower price, BUT remember you'll have to have cash

Mike,
What questions do you ask to qualify buyers? Thanks for all your input!
-Teresa

link to investor profile form
http://www.deangraziosi.com/real-estate-forums/everything-else/96548/inv...

PLUS ask these:

What types of properties are you interested in purchasing? ____________________________________ ____________________________________________________________________________
What areas are you interested in? _________________________________________________________ _______________________________________________________________________
What price range? _____________________________________________________________________
Experience level? ______________________________________________________________________
How do you plan on financing deals we sell to you? ___________________________________________ ________________________________________________________________________
How quickly can you close? ______________________________________________________________
What constitutes a good deal for you? (% of value, minimum profit, min. cash flow) _________________ _____________________________________________________________________________
What level of repairs are you comfortable with? _____________________________________________
Tell me about your last deal or the one you're working on now or your best and worst deal

When you go to assign a deal to your "buyer" you can separate the real ones by using the non-refundable assignment fee. If they have NO problem with it, they'll close the deal

Notes: _______________________________________________________________________________ _____________________________________________________________________________________

This is some good info . Thanks for sharing

Right--I have the buyer profile form, but these extra questions you also ask of a potential buyer are great.
Thanks again.
-Teresa

for you and your new buyers! Thanks for sharing.

Good for you...Thanks Mike for the info...I will find when there is an auction and attend. Thanks again.

Regarding questions to qualify buyers you noted when you assign a deal to your buyer use the non-refund assignment fee. Knowledge goes a long way....
Thank you for your wisdom!