Forum Replies Created
October 31, 2007 at 2:09 am #23463
Thanks for that. I watched the whole series and it is very inspirational.October 10, 2007 at 11:42 pm #23291
Also, if you are getting it under contract for $320k and find a RB to bring 5% to the table that is $16,000. If you go his route he is getting the majority of the upfront and once you figure in the fees for setting up the transaction and contingency fund that leaves you with Nadda, big fat zero. I personally wouldn’t put myself in the position to receive nothing if possible, try to work something more beneficitial to both of you.October 10, 2007 at 11:36 pm #23290
I would “partner” up with him and possibly split everything 50/50 (upfront that is left over after trust set up, contingency fund, and so on, the monthly and the back end). That is AFTER a RB is found and footing the payments.
If he doesn’t want a beneficial interest then only split the front end, though that is dumb on his behalf. Homes aren’t even a dime a thousand around here and can get all the houses I want at will and it is like that in a lot of areas around the country, not sure about yours. If he is willing to split it, work a deal and do it if not find another.October 8, 2007 at 6:50 pm #23173
Strap yourself in for this ride, Scott.
we now have a thread going on racism and bigotry. Which I believe is at the heart of many issues thruout the world.
To me it all equates to the existence of change being the only constant.
That, all cultures and languages need to communicate effectively.
15 miles from the world’s busiest border crossing.
Actually I see nothing racist about it or any bigotry.October 8, 2007 at 4:24 pm #23170
Peter, that is fascinating. I didn’t know that about your background. Can’t even imagine it!
The problem with the current influx of immigrants (legal or not) is that they have NO desire to be Americans. Did you watch those ridiculous marches a year or so ago with the Spanish speaking legals and illegals? How many American flags were being flown? NOT ONE but there were literally THOUSANDS of people waving Mexican flags…..why is that? All you have to do is look for interviews, tv clips and reporter stories to learn that they don’t want to be citizens of the United States but they want all the benefits plus to impose their culture onto ours thus dividing the nation so to speak. It takes a lot of ignorance and arrogance to demand the US cater to them but have no desire to do their part to integrate into the US culture.October 8, 2007 at 2:53 pm #23258
When I was your age I could keep that kind of schedule, wait till you become an “old fart”. Enjoy it while you can!
At 20 it was a LOT easier, at 30 it is almost miserable and only doable occassionally In another 10 years I can’t see myself doing it. Have 3 children also makes your days a lot more tiring trying to keep up with them as well (my oldest is only 4).
I am going to sleep like a baby tonight! I am not a napper but I think I might be today…October 8, 2007 at 6:21 am #23256
Now that is an idea I am going to put into action tomorrow Dave! I had never even thought of using directionals as Bandit signs and just lead them to my website! I have about 40 directionals sitting next to me, I wish I would have thought of that on Friday to get the weekend home hunters since the weather here in Michigan has been in the high 80′s to low 90′s. By mid week it is only going to be in the high 50′s…..
I learn something or pick up another interesting tidbit every time I stop by here!
So my To Do List keeps growing and time keeps passing….getting up at 7 am tomorrow to get an early start and it i already 2:30 am. Write some stuff up, get in bed by 3 and up at 7 to get to work.October 8, 2007 at 4:13 am #23254
Thanks for the links guys, very informative. I knew of a bunch of those but not nearly all of them. Got my late night/early morning activity!October 7, 2007 at 6:08 pm #23240
Tell me about.
I’m the one that sent an Audio File, to one of my Researcher’s that had the E-mail Adress: ” deafthunder ” @ so and so.
She wrote back,” that’s fine, except for one thing….”
( brother )
lol, that’s hilarious…in an embarrassing way ;-0October 7, 2007 at 3:29 pm #23203
No, I have not received the addresses.
Resending them in a second. I must have misspelled your email, it bounced back. Sorry about that. I am setting up my address book again and manually entering a lot of them, I will add yours from the email you sent me and respond to it with the addresses again.October 6, 2007 at 9:22 pm #23201October 6, 2007 at 4:35 pm #23245
You the designated file/document/sound clip sender these days?October 6, 2007 at 2:03 am #23160
You could go to Mexico (which is close) and probably find 99%.
I still wouldn’t do business with anybody that can’t speak or read American! Especially with all these predatory, shark attorney’s swimming all around you. Who needs it?
I am with ya, not even with an interpreter. These “predatory, shark attorneys” will defend everyone from unscrupulous American citizens to illegal aliens to accused terrorists. No way I want to deal with anyone they consider “down on their luck” so they are sniffing over my shoulder waiting for me to make what they consider wrong and illegal. Of course illegal, non-English speaking residents are the poster child right now..just stay away!October 6, 2007 at 1:26 am #23233
I’ve talked to several loan/mtg brokers lately in an effort to get their “throw-aways,” i.e. almost but not quite qualifying for a home. I have several houses that are in the pipeline and I’m trying to build a buyer’s list. The brokers haven’t been very helpful. It may be me or my approach. Any suggestions for how to approach these guys or do I just need something solid available for an RB to move into right now? Should I be offering him a fee for the names even before I place them?
I don’t consider myself experienced or knowledgeable enough to be giving out advice but what I mentioned above works like a charm in this lack of buyer market I am in. Every office has dead files out the ying yang
What has been your approach anyway?October 6, 2007 at 1:20 am #23232
There is a post on this vary subject in the Mentoring forum below.
I am having GREAT success with mortgage brokers. First, however, you have to realize that calling brokers is a numbers game just like calling sellers, realtors or anyone else. I posted my amazingly surprising results on my first call from the other day, leads and a RB with their funds already in the form of a money order from the bank.
MY POST FROM THE OTHER THREAD, your mileage may vary but it is working for me so I am going to stick to it.
By far what is working best for me is something like: (taken almost word for word from what Bret said though I tend not to read it from a script so it varies every time I say it depending on how the conversation is going)
Hello, can I speak to the principle (or broker).
Hello Mr. Broker, how are you today? … Great! My name is Eric and the reason I am calling is that I am an investor in the area and have some homes available. I work with MB to put their office dead files into my homes and work with them to qualify for a loan which will be referred back to you (some have asked how do I know, some have asked if they could work with them, most just say no or ok). How many dead files does your office currently have? (I have found it is best to just ask how many instead of Do you have any).
If they are hesitant I will throw in the referral fee as well. Once they say that sounds great, and they usually do, just go over and meet with them and get the referrals.
I might explain that it is in my best interest to work with them rigorously (the RB) to get qualified in the next 1-3 years because that is when I make most of my profit if it goes that route and I get the impression they don’t believe I have any such intention.
There are so many different variables and things I have talked about with MBs that it is hard to for me to have a set script for it. I start out as above and go were the conversation is with what I talk about. I have just always made sure they know I will pay a referral at closing, what the requirements are from their dead files (5% plus first), they will get the refinance loan down the road as well and after I get my first referral from them keep in contact so they know i am still here.
Listen to the audio of Bret talking about working with MB (not sure which one it is).
The most effective approach has been doing what Scott outlines in his eBook especially if you get a meeting with all the Loan Officers, much more bang for the buck and time spent.