Newbie here

Would welcome any advice about investing in real estate. I've read a few courses and many books. Make calls to owners every weekend (I work a full time job). How do I get owners to open up and talk more about the financial aspect of their home? confused

Comments(2)

  • 23rd January, 2003

    Nice to meetcha pearlofocean,

    Before discussing finances with a potential seller you first want to find out the flexibility of the seller. As a REI, you desire "profitability". The more flexible a seller is, the more you can negotiate on price. I first would ask about the house and it's features then find out why they are selling. Do they need to sell due to problems at home or financial difficulties? Find out how long they have had it on the market. Many people will take a great discount on the property because of pain, hardship and difficulties. We as investors are looking for FLEXIBLE sellers as you probably already know. If a seller is not flexible with their terms, you need to move on to the next one. Remember we are playing a numbers game!

    Keep pushin foreward and it will payoff in the end.

    Dan
    <IMG SRC="images/forum/smilies/icon_biggrin.gif"> [ Edited by dandaman on Date 01/23/2003 ]

  • pearlofocean24th January, 2003

    Thanks Dan! I do get them talking about the property. Two people I've called are owners who want out because they are rentals and the owners just want out period. One said he wouldn't carry financing, but would do a lease option. DUH! Isn't that the same kind of thing??? Anyways, the other didn't even want to talk about the financing. Guess I need to look for more flexible sellers??? What do you think?

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