How We Make Money
It's me again,
Just thought of something has anyone
doing a l/o ever run into a seller asking
well if there is no comm,no fees,and you
are going to market my home and make
my P I T I how do you get paid and make
a living? 
You can tell them when your buyers get their own financing/loan/mortg you get paid.
So you tell the seller that it is in your best interest to have the get their own loan as quick as possible.
They of course like this because that is when their mortg gets paid off.[ Edited by MrMike on Date 12/19/2003 ]
Joseph44,
Glad to meet you.
Volume
John $Cash$ Locke
Quote:
On 2003-12-19 18:04, JohnLocke wrote:
Joseph44,
Glad to meet you.
Volume
John $Cash$ Locke
LOL
Yep I used to have a factory making widgets.
We lost about 25 cents on each one but we made it up on volume.
Try having the owner carry the monthly until its filled. It works. Most agree and it leaves the burden on them.
Hi Joseph44,
Another thought is that there is nothing wrong with telling the seller that you are going to make a profit. Your buyer will pay you (slightly more) for the property that what you have agreed you will pay to the seller. If you can provide a solution that benefits the seller, they really wont care if you make a profit!
Best of Success!
BAMZ
Be Honest... and tell them... ultimately your buyer pays...
Quote:
On 2003-12-19 17:57, Joseph44 wrote:
It's me again,
Just thought of something has anyone
doing a l/o ever run into a seller asking
well if there is no comm,no fees,and you
are going to market my home and make
my P I T I how do you get paid and make
a living? <IMG SRC="images/forum/smilies/icon_confused.gif">
In my practice, by the time that I take over the property, the Seller and I are entwined in an ongoing future profit (if it is there) for both of us.
Almost always I have to prepare the house for a future tennancy or a sale or a lease/option, land contract. etc. etc.
I spend money, cleaning, painting, repairs of many and different kinds. The Seller sees this going on. He sees me as I market the property. Of particular interest is watching me sell the property fending off broker offers or reducing them to a pittance of an earned commission. Usualy I am cosigned on his new slummy apartment. I am cleaning his credit, Argue with those who continue to shove him in the dirt and oh yes, on future sale of the house. I show him my costs and expenses which I then deduct and I split the future profit with him.
He will of course tell his friends about the strange elderly gentlemen who helped and they in turn will call me and sometimes even before they miss the first payment. Makes life easier and best of all nobody shoots.
El Patron, Lucius
Thanks for the quick replies everyone
and may everyone on this site have a
MERRY CHRISTMAS AND A HAPPY
NEW YEAR.and may the new year be
prosperious for all.
Lufos,
So you routinely offer the seller a split on future profit on the deal? Do you offer 50-50 or do you offer something more or less?
I can see how this would work in a pre-fc I am working down the street from my current fixer-upper (which now appraises for $100K more than we bought it!!)
Shelly B in GA