Hi Guys
When speaking with sellers I’ve tried a number of things to get them to agree to sell creatively, but I’m looking for new ways and new ideas. All ideas welcome.Thanks
TamaraAre you an agent or an investor?
What ways have you tried already?
All the best
Andrew
superAndrew | Property Analyser and Finder Tool
https://property-analyser.com.auHi Andrew
I’m an Investor. I’m mainly interested in trying to set up a Joint Venture with sellers but with the market the way it is it’s hard to convince someone cash is not king. Have also tried to see if they would allow me to rent whilst renovating prior to reselling to someone else, but once again this has not been effective.Cheers
TamaraThe market is a market, if you can’t provide them with an option which is better for them, they’re not going to likely want to take it. :)
In the case of JV/reno-resale, that involves risks for the vendor and time. The reward would have to be *significant* for them to warrant consideration, and for the most point at the point of sale vendors want to end the transaction ASAP, than draw it out.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Negotiating good deals, creative deals you have to look at the buyer.
If you have a family in a family home and they are selling there’s Buckley’s chance you’ll get early access as they would want to stay there till settlement. So you need to look at investor owned properties or already vacant properties.Offering unconditional with early access and long settlement is one that has always worked for me. a 4-6 month settlement with early access lets you get in do the work (even on unlivable properties) get it up to a livable dwelling or high standard.
You can get finance out on contract price and instantly revalue the next day after settlement on a higher valuation.
Or if you had a licensed builder do the work with contracts in place you can get a on completion valaution on the works and on completion of the works draw up to that limit. All whilst not paying any bills or rates or mortgage on the property.
I sometimes didn’t even hook up electricity, just had a generator for power as your only using it for tools.Offer lots of money :-)
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Guys
When speaking with sellers I’ve tried a number of things to get them to agree to sell creatively, but I’m looking for new ways and new ideas. All ideas welcome.I may have missed something, but you would be looking to go into a JV with the seller to sell the property creatively??
What education materials do you have for the seller? If they don’t understand the concept, they’ll baulk every time, especially with the bad rap most creative techniques have on the internet. Since it isn’t as well known as in the US, people just don’t understand it.
ChrisA1
Persistence is 'to keep on keeping on, no matter how hard the going may be'
Hi Chris
Thanks for your feedback. Yes you are correct re: my strategy. What sort of education materials would you recommend? Do you use them and are they effective?Thanks
TamaraHi Tamara
Would I be correct in thinking that you may be talking with Sellers about selling their home, without being an RE Agent or authorised RE Sales Rep?
If you are, may I suggest you have a look at Tony Cordato’s paper on the subject. To get access to the paper CLICK HERE. The relevant rule is Rule 4.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Hi Chris
Thanks for your feedback. Yes you are correct re: my strategy. What sort of education materials would you recommend? Do you use them and are they effective?Hi Tamara
I haven’t developed any materials as such, but I was thinking along the lines of a handout to the owners to introduce them to the idea (since it is quite new to most), how it can benefit them, how you would manage the process and how they would be involved, and risks (to provide balanced information). I’m sure a simple information page for novices has been developed trough the VF groups or Tony Cordato.
ChrisA1
Persistence is 'to keep on keeping on, no matter how hard the going may be'
I think money is important for seller.If you are willing to buy something then give good price to seller.
kane9539 | Real Estate
http://thewatersal.com/
Email Me | Phone MeThanks Kane9539, but no can do. I don’t have an income so can’t buy traditionally. That’s why I’m looking to JV with a seller as I have the VF skills and the time, but not the property or the cash.
Cheers, Tamara
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