Because I have invested in it for a long time, many new investors think that I always know how to buy and sell investment real estate. Absolutely not true. No one is less experienced than I started, but I have an absolute goal and I am willing to work hard to achieve it.
Let me tell you my first deal:
Jim and I know that if we want to find a deal to buy, we must let people know that we want to buy a house. So, we started some very cheap marketing methods, put the phone in the surrounding neighborhood, spread out the flyers, put a magnetic sign on our door, and advertise on the local nickel paper (three-line advertising only 265 US dollars) ). I printed the questionnaire and stacked it by phone, so if the seller calls, I will remember which questions to ask.
Like most new investors, I am scared. Because I don't know what I am doing, I really don't want the seller to say "yes" to my offer, so my offer is always low. The ignorance of investors is not always a bad thing.
Almost the first call was a woman calling from outside the state. Back then, our phone had a caller ID, which said the call came from "the US government. Baltimore, MD." I am convinced that I was arrested for doing illegal acts, but I quickly rationalized it with myself. By that time I could not make any serious mistakes, so I took the call.
The woman’s voice said, “Do you buy a house?” What? The government already knows that I am buying a house? !
As it turned out, her son lived near our house. When I stopped at our local grocery store, I removed our phone number from the magnet on the door. The apartment she sold is actually near us, she has been calling from Baltimore, Maryland! This is too strange.
Anyway, it is vacant and has been on the market with a real estate agent for a year. I asked about the details of the property and promised to call her back. After doing the due diligence, I called the US dollar for 65 cents. She said, "Dear, I have owned this apartment for six years, and I still owe it more!" I told her, I fully understand that I will not be her best offer, but I am a solution Solution, if she has more problems in the sales process, she is welcome to call back at any time.
I am relieved that she did not accept my proposal. That night, she called back...
She asked, “What if we made this deal?” I explained to her, told her that we would be with our lawyer, and she had to write a check to see the products I provided and the money she owed. difference between. She thanked me and hung up.
The next day, she called back and accepted my offer.
I have never seen the interior of the house, afraid of death. Later that day, I met her son at the hotel to check. It's immaculate - all new carpets and paints, all appliances, including washers and dryers, 2-story living area, 2-story stone fireplace, upstairs office area, overlooking the living area below. This is amazing. Because this is my first deal and the seller actually paid me to take it away from her, I use it as a sign that I am on the right path to investment!
Let me tell you my first deal:
Jim and I know that if we want to find a deal to buy, we must let people know that we want to buy a house. So, we started some very cheap marketing methods, put the phone in the surrounding neighborhood, spread out the flyers, put a magnetic sign on our door, and advertise on the local nickel paper (three-line advertising only 265 US dollars) ). I printed the questionnaire and stacked it by phone, so if the seller calls, I will remember which questions to ask.
Like most new investors, I am scared. Because I don't know what I am doing, I really don't want the seller to say "yes" to my offer, so my offer is always low. The ignorance of investors is not always a bad thing.
Almost the first call was a woman calling from outside the state. Back then, our phone had a caller ID, which said the call came from "the US government. Baltimore, MD." I am convinced that I was arrested for doing illegal acts, but I quickly rationalized it with myself. By that time I could not make any serious mistakes, so I took the call.
The woman’s voice said, “Do you buy a house?” What? The government already knows that I am buying a house? !
As it turned out, her son lived near our house. When I stopped at our local grocery store, I removed our phone number from the magnet on the door. The apartment she sold is actually near us, she has been calling from Baltimore, Maryland! This is too strange.
Anyway, it is vacant and has been on the market with a real estate agent for a year. I asked about the details of the property and promised to call her back. After doing the due diligence, I called the US dollar for 65 cents. She said, "Dear, I have owned this apartment for six years, and I still owe it more!" I told her, I fully understand that I will not be her best offer, but I am a solution Solution, if she has more problems in the sales process, she is welcome to call back at any time.
I am relieved that she did not accept my proposal. That night, she called back...
She asked, “What if we made this deal?” I explained to her, told her that we would be with our lawyer, and she had to write a check to see the products I provided and the money she owed. difference between. She thanked me and hung up.
The next day, she called back and accepted my offer.
I have never seen the interior of the house, afraid of death. Later that day, I met her son at the hotel to check. It's immaculate - all new carpets and paints, all appliances, including washers and dryers, 2-story living area, 2-story stone fireplace, upstairs office area, overlooking the living area below. This is amazing. Because this is my first deal and the seller actually paid me to take it away from her, I use it as a sign that I am on the right path to investment!
