OfflineJust a quick note on a very quick deal. Well it actually took 90 days to close but my part took 30 minutes.
Got a call off a bandit sign. Very nice person, also very upside down. Handed him over to my short sale team.
Deal closed on Friday. Got a $600 check.
It is not a heck of a lot of money but I will take $600 for 30 minutes work all day long. Had I not had many options when this guy called, if I only looked at each deal as a wholesale I would have said good bye and lost the $600!!!
Let the DEAL speak to you as to what option to take when trying to make money. Leads are precious! Some will not work at all, but some will. Maybe a Lease with option or a subject to. Maybe a good wholesale deal if you are lucky! Maybe a short sale (most are these days)
Don't get stuck in one mindset, you will loose money!!
There is no ONE WAY only to do a deal.
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
I would take $600 anyday also
Love your advice on this forum. Very valuable.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
That is a cool deal, when you say shortsale, did you just refer it to a realtor who deals with shortsales and get a referral fee?
Your attitude determines your altitude!
$600 WOULD SEEM LIKE A MILLION TO ME RIGHT NOW.....
THANKS AGAIN MICHAEL
WALT
Michael, great advice. Im sure I've let go of some leads I could of.helped out and made money. How did you make/meet your short sale team?
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
It is amazing the number of calls I get from contractors, sellers, other wholesalers, agents etc off my bandit signs. What a great marketing tool!!
Maddy,
A lot of agents will tell you they can not pay you a fee on a short sale referral. Just like the ones that say they can't do assignments or double closings or whatever. You have to find the right short sale agent. A "creative" one!
Thanks to all!
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Michael, Thanks for the reminder! And for sharing!
Cris
you always have such inspiring advice! I keep meaning to put out more signs!
Should I not pass up a short sale oppty? I've come across tons of them.
Thank you.
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
Thanks for the advice. I started with bandit signs just last week. I selected an area and put out around 20 all around that area. I have to put them out only in the weekends due to restrictions. I got JUST one call
, little disappointed but not giving up. The caller wanted to sell his property 1973 house, FMV was 120k according to my comps, he was asking 160k and was already 5 payments behind and recently divorced. As you said we need to check all ways to see if we can structure a deal and make profit , so I wanted to meet him. Left him a message but no response yet. I would have welcome not only lead calls but any other calls(contractors , other wholesalers, handymen etc., off course not cops) to my bandit signs, I was so desperate for calls 
will not give up, will try again!
-Maddy
Your attitude determines your altitude!
I totally agree, so many deals get passed by , I come by so many people that want to buy a home but have not alot of money and bad credit. So I find Landlords (For Rents) that I negotiate with , that will sell for (TERMS) , which would be they would carry the note (OWNER FINANCE), and place those (2) together and make money in the middle by assigning that contract.
So many people in this situation ,so I had to Think alittle outside the box !!
Congrats on the $600, and for the great information you give to us all.
Curtis Fillers
(Charlotte,NC)
Curtis, That is how you do it! Diversify your investing capability. Way to go!
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
... and again... you never cease to inspire us!
thank you for your continued advice,
Val
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
at it's best! Thanks Michael.
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Nice job. Thirty minutes!
Also, thanks for your advice. As always,
nice to hear about your REI.
Lei
___________________________
More money than I made today ! Great job ! ~Bob
Keep putting out those signs! Like any advertising campaign, you have to keep your advertising in front of the people. We put out at least 15 every Friday night after 5:00 PM.
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
I would take $600 a day and be happy.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
i believe bandit signs work. i don't know why some people won't use them.......
WALT
Bandits signs do seem to work, but I guess the key like Michael said was consistency.
$600 is nice for 30minutes I made on my last deal 3k for about 4hours of work so yea I will take that anyday. you are inspiring my friend.
Tony
Go faster do more! GFDM!