Making an offer

Making an offer

Making an offer is sometimes intimidating for a beginner – mainly because you’re scared the seller will accept, and you have no idea what to do next. Or you’re scared you’ll mess something up.   Either way, I totally understand.   But something that gave Ashley and I confidence was to realize that you aren’t contractually bound by anything just because you made an offer.   An offer, is just…

Your contracts should evolve

Your contracts should evolve

  The phrase, “One size fits all,” is something that should never be applied to your contracts. It’s very important that your documents fit the individual deal you’re working on. If you get on the internet and get a generic contract, it may have verbiage in it that’s not compatible with the laws in your state. You don’t want that.     Each time you write a contract, the situation…

The benefit list

The benefit list

  It’s as simple as it sounds: a benefit list lists all the benefits associated with a deal or offer you’re making. This is a great tool I garnered from two of my greatest teachers: Peter Fortunato and Bill Cook.     Pete always talks about deals in terms of benefits, not money. There are lots of benefits associated with each deal that you can’t put a dollar amount on….

A real-life offer

A real-life offer

The purpose in making an offer isn’t to have some fancy paperwork that neither the seller nor the buyer understands. An offer is meant to start the process of a meeting of the minds. Once you have a meeting of the minds for both buyer and seller, you can make a deal.   I’m often asked how I figure out what to put in my offers. I’d like to walk…

A million dollar offer

A million dollar offer

  I had a new investor named Sean ask me about my door knocking technique. Instead of trying to tell him, I invited him to come out with me one day. While we were out, we came across a vacant house to investigate.   In situations like these, our first course of action is to talk to the neighbors. One neighbor said they had a hard time getting in touch…

How to make your top offer

How to make your top offer

How to make your top offer:   When you’re looking to buy an investment property, it’s important not to get emotional while evaluating the deal. Let me warn you, failure to keep your emotions in check will cost you big time. Ask me how I know.   One of the worst deals Ashley and I ever did was a result of us leaving our excitement unchecked. When we were new…

Word Of Mouth

Word Of Mouth

Word of Mouth   Advertising is a big deal in any business. Your customers need to know what you do and how to get in touch with you. In real estate investing, advertising presents a unique challenge in that you nearly never have repeat customers. That’s because most people don’t have multiple houses to sell.   In order to drive your investing business forward, you need to be advertising constantly…

Can you make creative offers with a realtor?

Can you make creative offers with a realtor?

Can you make creative offers with a realtor?   You certainly can. Agents will present any and all written offers to their clients.   Just make sure you realize this doesn’t make the seller’s agent your agent, however. At the end of the day, the seller has a relationship with their agent. They trust their agent and have hired them to council them as to what is in their best…

Make An Offer!

Make An Offer!

Make an offer!   Pete Fortunato tells a great story about an offer he made. He looked at the house, ran the numbers and gave the homeowner a written offer at a price he could afford.   The homeowner reviewed it and said, “I can’t believe you would make me an offer like this. It just offends me.”   Pete’s response is what’s so epic. He asked the guy if…

Do Your Notes Need To Carry Interest?

Do Your Notes Need To Carry Interest?

I was at worship the other day with a five year old who was trying to sell his Rubik’s Cube.  I didn’t know they still make those things, but, I played along.  I asked him how much he wanted for the Rubik’s Cube.   Tyner:  “Nine hundred sixteen”. Me:  “Nine hundred sixteen what?” Tyner:  “Cents.” Me:  “Ok,”  “How about ten cents down, twenty cents a month until it is paid…