Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips


Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Topic Options
#248559 - 09/08/08 11:40 AM i have over 120 tenant/buyers and im struggling
alvin Offline
Veteran Member

Registered: 09/02/04
Posts: 992
Loc: Simi Valley, California
i advertised 7 properties online that i have under a 90 day non exclusive option and ive accumulated over 120 tenant/buyers looking to take over payments and have 3% - 5% just in the month of august! now im seriously overwhelmed and im continuing to get a back log of tenant/buyers emailing me, filling out my forms and filling up my voicemail box. i have a day job in computers full time and my time is very limited after hours between my wife and returning phone calls/emails.

i have no problems making my full price offers, getting options signed, getting tenant/buyers, educating, talking to people, networking etc. i am not struggling with any of these since ive already jumped over these hurdles.

my main struggle right now is matching up at least 1 of 100+ tenant/buyers that i have with a suitable property that i dont have under contract yet. im in southern california and most of us have bad fraudulent loans and high payments which makes them unmarketable for take over. im offering homeowners to do loan modifications to cut the payments nearly in half to make it more doable for one of my tenant/buyers to take over the new lower monthly payments. however i dont have time to do these as well! i started going to work 2 hours earlier so i can free up some time to work on my weaknesses.

so this is my paradox im facing and im not quitting. persistence and stumbling forward would help me jump over this hurdle and close my first creative deal.

ive educated my tenant/buyers and made them my bird dogs to retrieve me properties they'd like to live in and own sometime in the future. this way i can leverage their time and just make full price offers to agents or FSBO's

basically i dont have good infrastructure to handle follow ups, phone calls, and consistently making offers. this is what im fixing so i can progress and move forward towards getting these deals done.

any suggestions from experienced investors on how to match up tenant/buyers with properties? remember i have way more tenant/buyers than properties that are available for lease to own.

i may need a few agents in different cities that may want to partner up with me to help me show properties. i can pay out 3% commissions or do a 50/50 split on any of the 10 profit centers im able to create.
_________________________
Let's chat!
MSN ID: pcginvestors@hotmail.com
Yahoo ID: defconstock
AIM ID: d3fcon80

Top
#248626 - 09/08/08 06:20 PM Re: i have over 120 tenant/buyers and im struggling [Re: alvin]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 5330
Loc: georgia
"close my first creative deal."

Alvin so in 4 years since joining this board you haven't had one of those deals close yet??

Good Luck I hope it works out for you. My investments are doing great but my market is much different than yours.

I wouldn't say you had a fraudulent market just a market driven by investor-flipper speculators that inflated the prices to levels that were doomed to fail.

Top
#248630 - 09/08/08 06:36 PM Re: i have over 120 tenant/buyers and im struggling [Re: super realtor]
alvin Offline
Veteran Member

Registered: 09/02/04
Posts: 992
Loc: Simi Valley, California
ive closed 3 deals traditionally with credit.

its just hard to match up these properties with bad high payments with my tenant/buyers.

also a day job and a wife occupies majority of my time.

i think the key to this market are the real estate agents.

my license is expiring this month and i dont plan on renewing it.

im currently doing loan modifications for homeowners that want to stay put.

those that dont want their homes anymore, then i make a full asking price offer subject to a successful loan modification. this is how im able to get the high payments reduced nearly in half.


Edited by alvin (09/08/08 06:41 PM)
_________________________
Let's chat!
MSN ID: pcginvestors@hotmail.com
Yahoo ID: defconstock
AIM ID: d3fcon80

Top


Newest Members
Moe, jbs2212, lauria240, 702REALTOR, dglickler
12449 Registered Users
Who's Online
53 registered (100kRECoach, 6t8ssgirl, allREOpreserv, amanda1266, Andrea C, 5 invisible), 78 Guests and 6 Spiders online.
Key: Admin, Global Mod, Mod
Search

Shout Box

Good Ideas
Nusetlock.com




Energized Seller




Realtor Websites




Sponsors


Real Estate Careers, Get Certified. Improve your BPO business., How To Advertise Here


This site presented by RNC Internet Services