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Why not make GOOD COMMON SENSE DEALS?
Maybe you think that shooting off 10 or 15 offers a day might be the solution,
but you quickly discover that is like wading into quicksand as far as your time
is concerned. You learn that you wind up working on deals that have little hope of
getting funded and you soon wind up more frustrated than ever because now your method is
time-consuming "quantity" deals rather than executable "quality" deals.
Just because a seller accepts your offer, it does not mean that you have a
"profitable deal", let alone a "fundable deal". Oh, and then you think,
"Well, if the deal isn't fundable, I'll just assign it someone else and make
money that way." Again, let's think about the logic to that. Why
another investor want to pay you for an assignment on a "dead beat" property?
maybe you will find a buyer who isn't too smart and then you unload a contract
assignment on them and they ultimately discover that they can't get the property funded.
You might walk off with some money, but it certainly wasn't a "WIN-WIN" deal. If
want to do assignments, wouldn't it be better to be assigning
QUALITY DEALS? You'll have a better reputation and your "wholesale
buyer" will be back
for more. Doing it the other way, you probably won't want to go back to your local real
estate investor club meeting. It's all about WIN-WIN and learning to choose
FUNDABLE, MARKETABLE DEALS.
"I bought everyone of your fantastic books..."
I once learned about a single family home in Las Vegas that was available in a
pre-foreclosure. I did my homework and contacted the owner and although I wasn't
actually investing in the Las Vegas market at the time, I did know someone who was. I
made a phone call, did a 'hand shake" bird-dog deal on the phone. The other
all the work and a few weeks later I got a phone call and we met up. He had successfully
closed the deal and resold the property for a substantial "lump sum" of profit
handed me a $5000 check. I'm not advocating doing these type of deals with people you
don't know and without getting something down on paper but as you can see QUALITY
are always in demand. You have more options including "bird dogging" and
and everyone wins.