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Location: On another site. This one is lame :) Trying to give it a second chance though.
105 posts, read 70,935 times
Reputation: 44
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Quote:
Originally Posted by Bill Keegan
He didn't say there weren't. He asked if some of the architects of these successes might share their wisdom & insight, or at least some details. Do you search for a particular type of property, do you bother with listed properties or just go after forclosures, etc.
No one says you aren't successful. Some of us would like to see if we might learn something from your success.
There's no silver bullet.
33% Right place, right time
33% Negotiation
33% Watching and waiting
1% Luck
Everything else depends on who you're dealing with.
A FSBO - More negotiation
HUD or Foreclosure - More so right place right time and negotiation.
A standard listing - More watching and waiting
Location: On another site. This one is lame :) Trying to give it a second chance though.
105 posts, read 70,935 times
Reputation: 44
Quote:
Originally Posted by olecapt
Why some many years ago my father was in a gaming hall in KY when a fellow at the craps talbe made 29 passes in a row. The old man rode with him for a good bit in the middle and actually made 10 Gs when that was a lot of money. Think the player was the best crap shooter ever? Think my father should be singled out as a brilliant craps maven for riding with the guy?
Your achievements if just fine. They punch your ticket one tiny spec way up in the left hand corner. Now do it again 200 times.
The score is .....
19 - Profit
3 - Basically a wash with slight profit
2 - Basically a wash with slight loss
1 - Offer on the table
1 - House for sale, but it's my home.
No heavy losses.
So are you here to discuss real estate, or just take pot-shots at my experience?
19 - Profit
3 - Basically a wash with slight profit
2 - Basically a wash with slight loss
1 - Offer on the table
1 - House for sale, but it's my home.
No heavy losses.
So are you here to discuss real estate, or just take pot-shots at my experience?
Hey that says you may actually have made more than $10,000 in the business...then again you may not have. People who are good at this stuff are usually cagey about how good. They demonstrate by their astuteness...not by meaningless racks ups that can mean anything.
Hey you are the one who thinks you are a clever investor. I think you a ripe capon soon to be plucked. Time will tell who is right.
But I would urge all to avoid advice from invenstor who have a system that really works...
Thought about taking it on the road...make a bundle from the gullible.
Location: On another site. This one is lame :) Trying to give it a second chance though.
105 posts, read 70,935 times
Reputation: 44
Quote:
Originally Posted by VivaLaEvie
I love this - it is so true! You can get so much information from the listing agent.
The agent that was selling the multi-family were are living in used to complain all over about it. Just please, please make an offer he'd say. The owner just wants out. The listing price is so unrealistic! It sold a year later for 50% of original asking price. Even if they aren't that obvious, they will send signals about what your chances are at a different price point.
So, what do you say to your agent about why you want to see the property with the selling agent?
What do you say to the selling agent? They can be so hostile when you don't follow their "rules"....
I just tell my agent I don't like too many cooks in the kitchen. I'll find the houses, I'll make the appointments, and he can collect the cheese for filling out the paperwork. Of course I still get emails with 100 year old properties that need 110 years worth of work, but hey, lol. It makes him feel like he's doing something.
The selling agent, like I said in another post, I just tell them this is how I want to see the property, or I just lie. I sign nothing when I get there.
To tell ya the truth though if the property is listed through a retail agent, you're probably setting yourself up for disappointment. The deals are there, but few and far between. Chances are if the deal is that great, somebody better connected to the office bought it already. The other thing is they're generally huge rehabs if it's any sort of a deal coming out of a retail office. Just my experience, you might do better.
Location: On another site. This one is lame :) Trying to give it a second chance though.
105 posts, read 70,935 times
Reputation: 44
Quote:
Originally Posted by olecapt
Hey that says you may actually have made more than $10,000 in the business...then again you may not have. People who are good at this stuff are usually cagey about how good. They demonstrate by their astuteness...not by meaningless racks ups that can mean anything.
Hey you are the one who thinks you are a clever investor. I think you a ripe capon soon to be plucked. Time will tell who is right.
But I would urge all to avoid advice from invenstor who have a system that really works...
Thought about taking it on the road...make a bundle from the gullible.
Well sorry if I don't meet your criteria for a successful RE investor. I don't attend the meetings.
Judging from the fact that you think there is actually a "mold", you have little to no experience in the game.
Sure-fire get rich quick methods only exist in infomercials.
...and clever only works when you show people what you're doing. Anybody that knows what they're doing, doesn't tell the world how to do it. Otherwise it's no longer a successful strategy, it's common knowledge.
You're right, the "rack up" is meaningless. Precisely why I shared it with you
Were you expecting a transcript of the negotiations with each deal? Maybe a few links or phone numbers citing sources for properties? Uhhm, no.
Like I said before, I came in this thread to tell the OP to bid what they want and not what the agent wants. To hell with the seller. The only way to make them happy is give them MORE of your money. Sorry, I'm not in the business of making sellers happy.
We're not in disagreement. I was just trying to clarify what I thought another poster was saying--that he was referring to unrealistic sellers (with whom agents have to deal) as opposed to agents in that particular message--wasn't trying to correct you. I did not intend it to come across negatively, and apologize if I offended you. I've read too many of your messages to do that.
Quote:
Originally Posted by AnthonyB
Realtors have a lot of pull there too. Including not taking a listing where the seller has completely unrealistic expectations, which is standard practice among the most professional realtors I know. They don't want to waste their time and money on a lost cause and they are experienced enough to recognize one.
Realtors have LOTS of power in these positions. The good ones use it well and wisely. The bad ones less so. But that doesn't mean the power doesn't exist or that they have a great deal of influence over pricing and negotiation.
Location: On another site. This one is lame :) Trying to give it a second chance though.
105 posts, read 70,935 times
Reputation: 44
Ok, now I feel stupid, lol
I just realized something with a big DUH.
I have a house for sale in the Philadelphia suburbs.
The OP is looking to bid on a house in the Philadelphia suburbs.
Disregard any advice I've given you, it was wrong.
I want you to offer 10% more than the asking price. Especially if the house has all wood floors on the first floor, blue carpet upstairs, contemporary furniture, and a Picasso print to the right of you when you walk in the door. Definitely over-bid on that house
Pay through the nose I always say. It builds character!
When were these deals made?
What is the NOI on the 5 unit bldg?
How many homes did you purchase for $1.00?
What were their values?
How were you able to negotiate a $1.00 deal?
These are serious questions, and everyone on the thread stands to learn from your experiences.
I've been doing some deals going back 10 years.
The NOI on the 5 unit? Couldnt tell you, sold it within 30 days, yes at a profit.
How many homes for $1? Lets see, Rodney Street, Huey Street, Soles Street, so 3 outright for $1.00.. I've bought Brighton Rd, Flagler Street, for $1 down, but that one doesnt count.
Values, mid $20k's.. they held an average of $7K in tax liens on them, pay $1, sign over the property, make monthly payments on the tax liens just like they were mortgages.
People feeling they had no way out because they owed so much in taxes, and no buyer not wanting to touch them because of not understanding that you can assume debt, without paying up front for all outstanding liability at the closings.
I cant tell you how many agents think that its impossible to buy properties with liens on them, judgments, debts...
Last edited by pghquest; 01-02-2008 at 07:03 PM..
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Ok, now I feel stupid, lol
