Need questions answered please.

[RCMMZ]

I have several questions about doing an assignment.  I signed up for telephone "coaching" , only to call and be made to feel like a complete idiot.  I know that I need to get a property under contract and before I can offer it to investors.  My problem is, I dont have money for escrow, I also cannot qualify for a loan, these 2 things are being required by the agent to make an offer.

So I understand that my buyer will qualify and pay for escrow, not me, but I cant find a buyer until I have a contract witch i cant do without these two items.

I know there is a solution to this and that it is simple, but my "coach" just went in circles and didnt answer the questions......

Am I making sense to anyone?  Can anyone answer this for me?   

[tatertot]

If I'd paid for coaching and received attitude on the phone, I'd pitch a fit. You paid for advice (and I suspect that you paid a lot), they'd by gawd better give you advice.

Yes, the answer is simple. You need a buyers list in place.  You find your buyers and make notes of exactly what they want to buy. When you find a great bargain, you call the buyer who would be interested in a property like that one.

Wholesale buyers who want super bargains are prepared to wait for one to come along. Be aware that they will be working with other people besides you and don't get huffy about it. If you find the good deal, they will buy from you.

[RCMMZ]

Thank you for the response.  Yes I did pitch a fit.  I also cancelled the service and requested a full refund as this was the first call i had made.  Anywho....

Do you have any suggestions on how to build a buyers list?  Do you have one you are willing to share    ?

[herbster]

Finding buyers has been covered to death on this forum, all you need to do is keep reading this forum. Herbster

[ReCoachDennis]

Hey there RCM

Looks like you're dealing with either bank owned properties or regular homes on the MLS.

If you want to stretch your  money-deal with motiviated private sellers directly.
I'm not saying to go around an agent.

What I am saying is to find sellers that don't have a ton of buyers courting them.

The best way to do this is to find them in mid ranged priced neighborhoods. These will be vacant homes, homes in disrepair, abandoned-beat up homes etc.

Send letters to the owners and you'll get calls back. It's a numbers game, but when you deal directly with the seller, your earnest money can be whatever you agree on.

Some of my students only put $10 down and $10 on the option consideration. Imagine how many deals you can lock up this way!


Let me know if I can help

Dennis