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Message
re: Cold call from a realtor
Posted on 7/26/22 at 2:19 pm to BlackAdam
Posted on 7/26/22 at 2:19 pm to BlackAdam
Twenty five years ago I was putting up signage, making calls, attending moving sales, sheriff sales, investor meetings, mailers, seminars etc. All this while having a full time job.
Got a nice portfolio and retired before 50.
Got a nice portfolio and retired before 50.
0
Posted on 7/26/22 at 6:00 pm to BlackAdam
Get his name/company and ask for his License #...
Posted on 7/26/22 at 6:25 pm to Fat Bastard
quote:
if you do a lease option or lease purchase you can put terms of which when you can foreclose, take their money and start over with a new tenant. how did they want to term contract to screw you? I'm genuinely curious. was it a lease option contract or a lease purchase they wanted?
A friend of mine was going to sell a house that he owns (free & clear) with his brother and offer owner financing. I offered them some advice on the advantages of offering a lease/purchase deal. With owner financing, you have to hope that they don’t default. With a lease/purchase, I always hoped that they would… about three months before the term ended.
Sorry, that was the Gordon Gekko 80s me talking.
This post was edited on 7/26/22 at 6:26 pm
Posted on 7/26/22 at 6:32 pm to SalE
I've gotten two of these, both very serious but in order for me to make it worth my while I asked the moon.
-175% of FMV. I'm perfectly happy with MY FOREVER home, but if they want me to move, I'd consider it.
But, I've got to MOVE, buy a new home comparable to this one, account for the fact I'm giving up 2.25% fixed rate and paying taxes & insurance on my purchase price and not todays FMV.
More importantly, if you are looking to displace me out of my home, the extra monies will pale in comparison 10 years down the road. This region saw a minimal dip in 2008 and is experiencing a 20% / yr growth. Their break even pt is about 3-4 years away. This would be someone's forever home and they don't make home and lot combos like this anymore.
Think about your parents or grandparent's homes they have had for 25 plus year at the prices they paid, overpaying for a home that was their forever home has more than made up for it in due time.
Neither decided it was worth it to them, but the numbers were close.
-175% of FMV. I'm perfectly happy with MY FOREVER home, but if they want me to move, I'd consider it.
But, I've got to MOVE, buy a new home comparable to this one, account for the fact I'm giving up 2.25% fixed rate and paying taxes & insurance on my purchase price and not todays FMV.
More importantly, if you are looking to displace me out of my home, the extra monies will pale in comparison 10 years down the road. This region saw a minimal dip in 2008 and is experiencing a 20% / yr growth. Their break even pt is about 3-4 years away. This would be someone's forever home and they don't make home and lot combos like this anymore.
Think about your parents or grandparent's homes they have had for 25 plus year at the prices they paid, overpaying for a home that was their forever home has more than made up for it in due time.
Neither decided it was worth it to them, but the numbers were close.
Posted on 7/26/22 at 9:23 pm to Jag_Warrior
quote:
With a lease/purchase, I always hoped that they would… about three months before the term ended.
Sorry, that was the Gordon Gekko 80s me talking.
yup. they taught us that in a RE seminar 19 years ago
Posted on 7/27/22 at 9:03 am to BlackAdam
Legit realtors know that verbal offers aren't worth the paper they are not written on.
Whenever someone makes an oral offer for property, say "send me a signed, written contract and I will consider it". See how serious they are.
Also, if you agree to an oral offer, they can try to nickle & dime you on the purchase agreement (i.e. closing costs, etc.).
If nothing else, you may waste these assholes time by forcing them to write up a contract...which leaves them less time to call/write me...every day I seem to get a letter, email or phone call from realtors or their flunkies. Usually without an offer price "Are you interested in selling, I have a client who wants to buy, yada yada" I usually give my best Quentin Tarantino/Pulp Fiction reply: "Did you see a For Sale sign out front? Do you know why you didn't see a For Sale sign? Because the mother-fricker isn't for sale."
Whenever someone makes an oral offer for property, say "send me a signed, written contract and I will consider it". See how serious they are.
Also, if you agree to an oral offer, they can try to nickle & dime you on the purchase agreement (i.e. closing costs, etc.).
If nothing else, you may waste these assholes time by forcing them to write up a contract...which leaves them less time to call/write me...every day I seem to get a letter, email or phone call from realtors or their flunkies. Usually without an offer price "Are you interested in selling, I have a client who wants to buy, yada yada" I usually give my best Quentin Tarantino/Pulp Fiction reply: "Did you see a For Sale sign out front? Do you know why you didn't see a For Sale sign? Because the mother-fricker isn't for sale."
This post was edited on 7/27/22 at 9:06 am
Posted on 7/27/22 at 9:31 am to BlackAdam
quote:
He says he has a cash buyer who wants my house
If you do not intend or contemplate in selling, don't even bother answering the calls. I get calls & text messages almost on a daily basis offering a great deal to purchase my home. They say "you can stay up to 2 months after your house is sold". I am just not interested. There's no purpose in selling high just to buy high.
Posted on 7/27/22 at 6:01 pm to BlackAdam
I get texts and letters all of the time and I just ignore them. But I might start listening as I wouldn't mind buying about 5-10 acres of land in the country and building a barndominium instead of remodeling my house I'm Sugar Land.
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