Avoiding Contacting the Seller

I'm sure a whole deal could be done without talking to the seller e mail, fax. I get a feeling you want to avoid contacts because of fear, we all start with the same fear. My suggestion would be to face your fear. Success be with you.Keith

Thanks for the response. Actually, I am thinking with the end in mind. I make a large corporate income right now but work very hard. I am doing everything I can to set up my real estate business so that WHEN it works, I am not working any harder than sitting on my computer and fax machine. I am hoping someone could let me know if they have had any success with this approach. Thanks again for your response.

Sonriffic.

I also have heard of people who do this. Phone, Fax and E-mail. They don't even see the properties they buy and sell. Whether it works or not I'll keep you posted on that, because I'm looking into doing that also. Fear plays a small part in my wanting to use this method. From what I am hearing though, a lot of investors waste a lot of time looking at properties and going through the whole process. If I can make more offers this way then that's what I'm going to do. Good luck guys!

Wether is fear or lack of time, not seeing the property is a mistake for beginner investors, specially because of fear. I have always been shy and not very confident but I got out of my comfort zone and now I get out there and meet with sellers. There is two main reasons to see the property. The first is to check it out and see what repairs are needed and at the same time if it is an attractive house. The second is to be more comfortable with sellers and improve your negotiations skills. This is a people's business and we have to improve our people's skills. Trust me that a few months ago, this thought made me quiver. That's why is important to read some self help books and those on how to deal with people. We can all overcome our fears if we face them.

I think there are many investors who make offers without seeing the property but they are PROS and know the areas as and know how to take risks. Now if you are doing lots of offers with a Realtor, then I can understand you not seeing some of those properties. With FSBOs, go see the property and build on your confidence by talking. Just my 2 cents!

where I'm the buyer and the wholesaler is in the middle and the seller is on the other end. Because I'm the buyer (and don't get me wrong, I don't have money upfront, I will be either assigning or rehabbing myself using hard money if I don't find a buyer)....but back to my point...because I'm the buyer and the seller happens to be out of state and a larger company that buys properties directly from banks in bulk, in my case, the wholesaler, the middle man has been the only "speaking to" that I have had to do. He set up the whole negotiation process in terms of emailing myself and the seller back and forth until we came up with the right price. It was worth me going through this wholesaler because price was right and there was and still is plenty of spread. Seller had contract (so I didn't have control), however, contract was sent to me through seller's title company, I made changes to suit my needs and signed off, and then seller decided to sign off on all my changes and got back to me with final copy through seller's title company. So virtually everything was truly done via email.

However, the property for me was local. I checked it out ...inside and out (it was open and vacant so I wasn't speaking with anyone about it when I arrived).

But I'm with everyone else above....this scenario is rare unless you happen upon an "incredible deal" post which happens to have a middleman and it is still profitable, and/or are a "pro" working from afar, and even so, most likely you will still be interacting via phone with the seller. And if it isn't "that type of deal", think of how many you will be passing up before you find one where you don't have to do much talking! I think this scenario just may backfire on you as your goal is to gain experience, not run away from it.

To a newbie (like myself too!), these conversations are at first dreaded, until you realize this is "the only way to get to the other side!" Then you want to start RUNNING to the other side and talking to as many people as you can as you know the "deals" are found in the taking of action!

So face the fear and do it anyway!

My niece who is 3, was 2 years old of course last year, and on Halloween, she dressed up as Minnie Mouse and was about the most adorable thing you have ever seen. She is also, and was also at that age, the most articulate little one I have ever known! (At 2 years old, she told her parents "when I become a teenager, I'm going to be angry at YOU and at YOU" [pointing to each of them!] haha...she is quite a little delight, so parents were not sure where she got the "rebellious" phrase or info, but more impressed that she could say and understand those words at 2!!)

Anyway, she went with her parents trick-or-treating along with a few of her little friends...age 2 to 5. They came to a house that had the whole "Halloween" scene in their front yard, along with scary music and a scary looking door. The other little kids didn't want to go up to the door and kept saying how scary it looked, as fear crossed their faces. She looked at it and proclaimed at the top of her lungs "Let's DO IT!" and she joyfully pranced right up to the door and knocked.

I am hopeful for her sake that she is as enthusiastic in later life with facing the fears that she encounters to reach success and get that goal of "the candy in her bag".

A year later...my husband and I ....if ever apprehensive about anything, or trying to decide something....constantly have that story in our heads, and we'll bust out "Let's DO IT!!"

That is my recommendation to you...my new friend...to follow a 2 year old's advice Let's do it!!

Cheers to your success!
Louisa

OP here. I appreciate all of the encouragement but I really am not nervous to speak with sellers....really. I simply would rather submit lowball offers and let the seller determine if they want to accept it or not. It isn't my job to convince someone that my offer is good. I just want to spend my time on things that create value and not create another job for myself. If anyone has any experience with this somewhat 'shotgun' approach I would love to hear how you have set up your business. Thanks again all.

Sonriffic

You have got to have a good buyer list. Focus on 3 bedroom 2 bath homes and typically less than 1500 sq ft but nothing smaller than 750 sq ft. Avoid townhomes, condos,multifamily houses, and VA/FHA Owned homes.

You need to know two simple questions.

1. What will it sell for after its repaired?

2. How much will it cost to repair?

Send me a private message if you want to know what to say.

Here is the key to make the deal irresistable. Send a rehab contractor to thouroughly inspect the house and get an accurate estimate of what needs to be done. Then give the appraiser the rehab contractors report and ask the appraiser to give an accurate after repair value.

When you first call the seller you just want to get a ballpark for repairs and value. Offer a price based off of your instant analysis.

I have it in more detail just giving a summary here, private message me if you want.

Unless you are a Matt Larson who can buy a house sight unseen, why wouldn't you want to see where you are spending your money and on what. You've got to get your feet wet at sometime or another, why not now. Sellers don't bite, trust me!!!! I love to meet the seller, it helps me figure out how to approach them on final negotiations, and how much I have to push or hold my mouth shut. Get you feet wet, you will like it, I promise.....no go do a deal.....Jan

Yeah you are right to a certain extent. He wants to assign the homes not buy them with his cash. If you are purchasing the home then yes by all means do the due dilligence. If you are assisgning then you let the buyer do that. You make the low offers and go through the grind of getting it accepted then pass it along. More offers means more money to be made. If you can close on a deal by fax, phone and email then why not. I know a guy who does this and he closes on average 5 to 10 properties a month. Granted he has gain a great rapport with his buyers and they know that when he has a property to sell they get as fast as possible because they know he has done his homework. You can find a contractor who will give you an estimate for free on the repairs. When the buyer sees this they are more likely to by sight unseen.