The Different Way's To Submit Offers

How has that technique been working for you? Have you gotten any offers accepted, countered, or any action at all?

Hi Jason,

I think most of what I have read is that a realtor can do this for you.
Maybe they have more credibility with sellers?

1.)I had one respond back to me that the house is in escrow.
2.)I'm still looking for a Realtor to do this for me.I have one interested,but not on board yet.

All my offers are submitted by either email or verbally. Some banks require it to be in writing so if I have to I do that. My realtor submits all of my offers for me. I submit at least 50 offers per week and I plan on ramping that up to 100 per week if the economy continues to decline.

Hey J,

Go on craigslist and start emailing all those ads that say broker. You will definitely get a response. Tell them what you are trying to do and then arrange a meeting. That's what I did and found a Great Agent that is ready and willing.

Hey Jason,

I have been dealing a lot with Coastal, mainly with Rebecca at their title company they use in Tampa FL, Flagshig, who then referred me to an escrow agent that they deal with in San Diego since I live in CA. Mary at the escrow co (even though she is 300 miles from me) assured me that she has done back to back closings with sellers and buyers in my area, which gives me a little more confidence.

Whew....just want to make sure that you realize that Coastal is a ONE DAY HML and are only used for you to sell the property you loched up with the seller that SAME day to your end user so they got their money back (that SAME day) of course with their flat fee which is based on the amount of purchase price.......sliding scale).

So your intention has to be to re-sell this property to an end buyer so you can do back to back closings with the escrow ageny that Flagship uses in your state (if it is not FL) If you don't follow these "rules" you can not, as I understand it, use Coastal as your HML.

Have you lined up end buyers? That is my problem right now. I have placed an ad on Craigslist (still trying to find the best area to post it becuase I am seeing limited places to post in the real estate section) and only got one response and now they aren't returning my emails/calls.

Just wanted to pass on the info as I understand it. if someone sees it another way, pls chime in.......and of course (cbr) if you have suggestions how I can find end buyers, would greatly appreciate it! Am eager to look at FSBOs, realtor ads, etc because there are literally 100s of properties on the market in the ease bay area where I live, just need those cash investors/end buyers.

Look forward to your responses/advise!

Thanks,

Neil

Out of the 50 offers you submit, how many are usually accepted?

2 things for you to try:

Instead of the Real Estate section on Craig's list, go to the SERVICES section and click on 'real estate' there.

After that, also in the SERVICES section, click on 'financial'

Hope this helps you.

Angela

Thank you so much for this little tidbit. I didn't even see that was down there.

Hi,
Let me know how CL works out for you in your area.
In my area, I have found some wonderful resources.
I guess I should welcome you to the site. It is so great to have new people join all the time and be excited with what this site can do for them.
Good Luck!
WORDS OF WISDOM: Even on your lowest days, make sure that you visit this site at least once, read the posts, you will always be inspired, you will never regret it! I promise!
Angela

PS, if there isn't anything in your area, try CL in other states in that same SERVICES section. Many HML RE Investors will invest out of their own area if you can bring them a great deal!

Thank you for telling me "where" to post my "Looking for cash investor" ads on CL. And I fully agree with you in regard to at least once a day looking at the threads......it's amazing the info you can learn and all the nice give and take between EVERYONE! Keeps us all inspired.

BTW, the investor that I spoke about above that answered my original ad (I'm surprised he even found it.....I posted it in the wrong area Anyway, he called me back this evening and told me what I needed to know, what prices of houses he is looking at. The good news is now I know his price range (between $100K to $150K), but I live in the east bay area and at least a radius of say 10 miles form me, most homes are still comping at a MINIMUM of $500K! I will go futher out to areas that are cheaper, say around $225K so I can offer say 60 to 75% of FMV. I'll see how that plays out.

Thx Angela,

Neil

Yeah I find myself on here every free moment I have. Still reading BARM, but almost done. I found a few (buyers) in the news paper and a few more on Cl. Not nearly enough yet so I will be post my own adds this Monday. Still trying to figure out what I want to write.
The Charlotte market hasn't been hit quite as bad as most of america YET. I can already see it starting to change though.
I'm still nervous but I'm getting there. Just have to keep researching and learning.

How did you go about finding a realtor to work with? Or did you know one already?

In the past, it was mostly trial and error depending on who you bumped into reading ads, going to open houses, calling on signs etc.

Now with the advent of CL and Backpage, you should be advertising for a realtor. You should be up front about what you want to do and ask VERY pointed questions to make sure that you are going to be comfortable toegether in terms of strategy, personality, attitude.

There is nothing more frustrating than working with a realtor you arent compatible with.

Every Realtor has the same question and so do I.

1.)My Realtors response today:I’m not sure who is suggesting to you to write 30-50 offers per week – I don’t know how anyone would have time to do that unless it is the only thing they do and even then to write a complete offer (and maybe that’s the answer, they don’t they only do a one page or???)It would take approximately 60-100 hrs a week for the person like me to prepare (a full offer) then meet with whoever signs it and deliver the offer. So you can see how that isn’t practical – maybe you can find out exactly what they do. I’m guessing a one page letter saying here is my offer if you accept I will put it in a formal offer. And on this same note I find it very interesting they are offering 50% less than asking price and ever getting that…I am currently dealing with multiple offers on some properties and price's going over asking…maybe that person is in another state or area?

2.)Question: did anyone tell you who writes the check (called “Good Faith” deposit) that has to be submitted with every complete offer to make it an offer?

CBRpower- this has to be the #1 questions for newbie's like myself.
Do you just shot small emails and what about the deposit that has to be submitted to make it an offer.????
Anyone else please share how you are doing this.

no no no, these offers don't always have to be official offers, they can be "feeler" offers at which you don't need to put in earnest money. This is usually done by email and shouldn't really take more than a few hours spread across a week. The point is to see what kind of response you get so that you can put in an actual formal offer.

So lets say you research 50 properties at which you do all your research and then widdle them down to like 15 properties, you could possibly send in feeler offers to see which ones will bite and analyze which sellers are truly motivated to sell. I think Dean explains it best in one of his blogs of the week back in December. Even then, you would probably widdle down further to like 5 properties and then from there make formal offers on your properties.

Not to appear like a "busy body" but, cbr are u a "cash buyer????" It would seem anyone who has the ability to make up to 100 offers must have the $$$$ or HML to back of those offers.

Secondly, cbr where do you find 100 properties every week???? Can you explain to me your strategy????? Maybe I doing something totally wrong here??? Thanks so much!!!

I concur with .... I did the same thing re: my RE agent. One day this agent started emailing me some properties, then we continued emailing back and forth....

Now, we just met last week for our first meeting and it was like we had known each other all our lives (really!!!). She was GREAT!!! very professional and on top of her game. She provided me with ALL the pre-foreclosure listings in my county (current ones, by the way) from her title company and offered to do anything I suggested to see me gain the success I hope to achieve.

She agreed to join my team of investors and I was totally blown away. So, now I am on my way contacting the rest of my team members, which she had given all of the names before I left her office (i.e, inspector, appraiser, escrow agent, re attorney, contract attorney and accountant).

1) What about the state required disclosure forms?
2) Smoke Detector Inspections?Who pay's
3.)This question is about a double close and the down payment on property.
She wrote=You have to have a cashiers check when you make a deposit to escrow, so if you don't have the money in your account, you cannot get a cashiers check.

Deans new book "Profit from real estate right now" has my entire offer strategy in it. Get a copy of that book and your questions will be answered. Also my real estate agent submitted a letter to Dean verifying everything I do. In it you will learn:

1. How I submit 25 offers and get one accepted.

2. How I submit 50 offers in less than 1 hour

3. How I handle the deposit funds

4. How I buy houses without any of my own money

I just had 2 more offers accepted yesterday.

That's Great! Keep building and moving forward. I am actually in the process of working on two deals at the moment and still building my team as well.

cbrpower, or anyone in that case, When does that book come out? That is his newest book right? I didn't think he had finished it.

Kai

Thats what I would like to jknow,is when the book comes out. Will be the best seller for sure. I will be in line to get mine. Excellent info folks. All of you are helpful.
Kingjuss,