Home › Forums › General › EHTrust/EHT Topics and Creative Real Estate Financing › What are the top 5 benefits for SB’s and for RB’s?
September 5, 2008 at 8:38 pm #5120
What are the top 5 benefits for sellers and buyers
1. A better selling price
2. Credit protection
3. Cash needed
5. Relief from burden
1. Easier qualifying
2. Less money out of pocket
3. Pride of ownership
4. Income tax benefit
5. Automatic savings account
I’m thinking maybe the top 3 in today’s market
any thoughts or a better list.September 5, 2008 at 9:47 pm #27059
I use this for sellers
I’ll be offering full value…no one else will
I’ll be covering all closing costs…no one else will
I’ll be eliminating and the possibility of real estate commissions
I’ll be deferring your capital gains consideration
I’ll be taking the property As Is with no contingencies
I’ll be setting you up so that if I would ever default you keep all my money and get the house back to sell again
I’ll be happy to let you refinance the property and pull out your cash before you even deal with me…I’ll even pay the costs of, and points on, your new loan
I’ll be paying you interest on the amount you’ll be carrying
I’ll be offering you more than you’re asking if you’ll consent to: carry longer, carry more, reduce payments, reduce up-front costs or carry more
I’ll be happy to take the property off your hands and pay you back all the equity that you carry, plus half of whatever profit I can make on it over the next 2 or 5 years
1. We’re not tied to you.
2. You’re not tied to us.
3. We’re not tying up your property like a typical real estate agent or an investor.
4. We’re not going to even record the option to cloud your title.
5. We’re not going to take a quit claim deed.
6. We’re giving you your full asking price, PLUS!
7. PLUS, a portion of any profit centers we’re able to create above your full asking price in the next
8. We’re willing to give you 100% of any existing equity, all you have to do is wait for it.
9. We’re willing to give you 25% of any future appreciation when the property is sold or refinanced.
10. We’re willing to give you 25% of any principal reduction when the property is sold or refinanced.
11. We’re willing to give you 25% of any positive cash flow we’re able to create in the next 3-10
12. We’re willing to pay you to use your property and partner up with us using our creative strategies.
13. Just give us 90 days to do our due diligence.
14. Just give us 90 days to market for our pool of non-conventional tenant/buyers.
15. Just give us 90 days to market for our pool of conventional buyers.September 6, 2008 at 12:36 am #27060
What do you think are the top 3 in each catagory?September 6, 2008 at 6:34 am #27061
What do you think are the top 3 in each catagory?
Better yet, why don’t you ask the Seller which are his/her top three, then just make an offer.
See how easy this is folks?September 7, 2008 at 2:36 pm #27062
We made offers last week and now I’m having conversations with these folks. I want to have control of the conversation so I want to ask them questions. I will ask questions just like a doctor. First I will ask them what their trying to accomplish, what their goal is. Then ask them questions. Does it hurt here, does it hurt there. Then tell them what I can do for them and give them a perscription, if they aren’t alergic to it. Simple 8) I do this exactly the same way when someone asks me to build them something in my construction business.
The reason for the shortlist is to have Q&A’s already estabished. I don’t want a long list because I have a short memorySeptember 8, 2008 at 4:33 am #27063
I have a sign I put up in my office:
WHAT DO YOU WANT? (LISTEN!)
DavidBSeptember 8, 2008 at 4:57 am #27064
Rick, there is nothing wrong with a list of questions to bring out their pain. I too have a small list but I don’t bother asking them if they aren’t at least willing to answer the first one.
“Will you stay on your loan and leave ALL or PART of your existing equity in place for a few years for a Full Price Offer”?
If they can’t answer that with a yes then why ask any other quesitons. Who gives a rats a$$ what they owe or how many bedrooms it has? Not me, I don’t care. I’m not the one who is going to live in the place. As soon as you get it through your head none of that matters, you’ll start doing deals.September 8, 2008 at 2:14 pm #27065
You are both right.
Dave: I usually ask it a little different. I ask: What are you trying to accomplish: What is your goal Then they start telling me their story, and I try to listen, and take it from there.
Scott: I will stay the course and keep making offers in my second week of setting the goals. I have had folks say “yes” and I’m working on the details for the NEO’s. The goal has been set and now I’m filling in the pages.
It’s kind of like a blueprint for a building. You draw the building and then you work backwards to work on the details it takes to build the building. You can’t draw the building, and stare at it, and then tell the lead carpenter where the corner of the building is or what the elevation of the floor is, without all the pages of the blueprint on paper. I could throw a rock and say where ever it lands is where the building starts. The building department would love that Electricans need to know where to put their switches. Plumber needs to know where to put the sink. How can they bid on any project without knowing what all the details are That’s why folks don’t hire the right contractors and then wonder why the job wasn’t done right. What I do is ask them to walk you through their entire job, from begining to end and listen. The devil is in the details.
I will keep making offers, just as you suggest, and they will come.
Back to the trenches
You must be logged in to reply to this topic.