OfflineFirst off I'd like to say hello to all the DG family, I've been on the site for a few months, collecting information, motivation, but I've never really posted.
ANYWAYS, here's where I'm stuck.
I have two potential buyers from my website, imagine my shock and awe when I woke up to see someone ACTUALLY wanted to purchase a home...
I will be calling them tomorrow in the evening seeing how today is Memorial Day. I'm not even to sure what to ask them, I'm scared really... I decided I'm going to write a questionnaire and go from there but after that then what? I know I have to go out and find them homes, but how to seal the deal I wonder?
I want to purchase on contract and lease w option to buy, but how will the seller go with that? Maybe if the property is distressed enough but.... I guess I'm having second guesses now...
Any help, motivation would be appreciated.
Allow your fear to gently pass. Then genuinely ask yourself,
“What needs to be done?”
congrats on the quick response you received from your ads. You should make sure to respond back asap. This is the time to get all the information from them. Like what they are qualified for, if they are financing, the loan amount pre-qualified for, when they are looking to close, if they are cash purchaser's, what type of home they are looking for. Make sure they are aware that you are an investor. Then place them on your buyer's list. Now that you know what they need, it gives you a better idea what to look for when purchasing. Get a few listing from agents. Place a sellers ad. I would re-read chapters in the book on the direction your choosing. The main thing is to try. Just remember to stay on track with Dean's technics. If your not sure, keep on reading the subject until it's clear to you. The Success Acadamy is offered for support from Dean's. You can do it! Great success.............Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Congratulations on finding the 2 potential buyers. You may want to have a standard questionaire and find out what they are looking for and have they been pre-approved by a bank or mortgage broker. Then try to find what they are looking for and try to locate a deal which has enough equity for them and you. Good luck on all your deals. Believe and Achieve!
Indiana-Joe
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Thank you both for the replies and the support it just makes me THAT MUCH MORE COMFORTABLE when it comes to call and "get down to business." I actually had acquired a 3rd buyer as well lol!
I actually was reading last nite but fell asleep with an open book, I work overnites and I got off that day, I don't sleep on my days off.. anyways Im going to take your advice mydestiny and ask them about all the pre-qual stuff and see what they say... if they actually WERE qualified or pre-qual it would make it that much easier. I do have a question for you, this is going to sound silly, but what is a cash buyer?? Is that someone that's paying cash for the whole purchase of the house, or the way that deal is writtin up?? And how much does the academy cost, I think it would be worth it but not sure of the pricing.
I do have kind of a standard questionnaire the thing I think I'm going to find more difficult is, being a novice, 2 of the 3 deals is "outta town" so I'm not sure how to approach the homes, the area, anything. The 1 I have in town should be a lot easier... I guess after I call them I do research? Thanks again Indiana-Joe so much help and motivation.
Allow your fear to gently pass. Then genuinely ask yourself,
“What needs to be done?”
A cash buyer is someone who is closing with cash. The cost of the success acadamey varies. You can call 1-800-315-7782 ext. 200. Great success........ Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Ask these questions and you'll know right away what your options are with your buyers from the start:
• What type of properties are you interested in?
• Approximately how much capital are you working with?
• Are you interested in loaning money on mortgages?
• What level of Rehab are you comfortable with?
• How many transactions have you completed in your career?
• How often do you buy property?
• What's your price range when buying property?
• How much equity are you looking for?
"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"
- wrecklessKane
I envy you having three serious buyers! As has been said already, one key to getting a deal done with these prospective buyers is finding out exactly what they need in a house, where they want to live, is the right school district going to be important, the commute for each wage-earner, etc. etc.
Also very critical is how quickly the person or family is looking to buy. If they have to move quickly, then you must do the same!
But getting back to the point I was going to make about gathering the information, you want to make sure you know everything, including their credit rating, any prior bankruptcies, foreclosures, tax liens, their job status, amount of cash they can put as a down payment to name a few.
You're best bet is to see if you can come up with a standardized form from somewhere which covers all the necessary questions for you. That way you can just fill in the blanks and not be sweating whether you forgot to ask key questions.
After you have their "wish list" in hand, it should be a pretty straight-forward task to find a property that fits closely in size, price and neighborhood for each buyer.
And to make the most possible profit, you should begin your search for properties from the distressed/REO/auction sector. You want to always deal with Motivated Sellers and Motivated Buyers whenever you can do so.
Is there any particular reason you want to do a lease purchase contract? Just curious.
Thank everyone for being so transparent, what a blessing this site has been !