BSFF Podcast 162 – Scenario Questions #11 - BuySellFixFlip.com : Real Estate Investing Simplified
Update: 2015-12-03
Description
In today's podcast we will be going over a situation that another investor has recently found himself in.
As I read through this scenario, I will answer any questions they have and I will explain what I would do/have done in this type of situation.
Show Notes
In This Scenario, We Cover:
* I have been following a hot lead that I received from a letter I sent. Seller had a loan that ballooned and doesn't have the cash to pay off. He isn't living in the house anymore, is 90% through renovations, and just wants to get rid of the house. We negotiated a purchase price of $420k and the as-is condition of the house is $600k. This was 3 weeks ago and since then I have been reaching out to him every day or every other day either by phone or by text. We were supposed to meet on Friday to get a contract signed but he didn't keep the appointment. I believe he is just very busy and wants to get a deal done, but part of me is thinking that he is not serious. I mentioned to him on a couple of occasions that if he not a serious seller, he should let me know and I will give his cash to someone else. He asked me to continue to follow up with him. At what point do I back off this lead and stop following up daily?
Tweetable Topics
Resources
Please send questions you would like Michael to answer to support@bsffacademy.com and he will answer them on one of his upcoming podcasts!
Yellow Letters – www.YellowLetters.com
As I read through this scenario, I will answer any questions they have and I will explain what I would do/have done in this type of situation.
Show Notes
In This Scenario, We Cover:
* I have been following a hot lead that I received from a letter I sent. Seller had a loan that ballooned and doesn't have the cash to pay off. He isn't living in the house anymore, is 90% through renovations, and just wants to get rid of the house. We negotiated a purchase price of $420k and the as-is condition of the house is $600k. This was 3 weeks ago and since then I have been reaching out to him every day or every other day either by phone or by text. We were supposed to meet on Friday to get a contract signed but he didn't keep the appointment. I believe he is just very busy and wants to get a deal done, but part of me is thinking that he is not serious. I mentioned to him on a couple of occasions that if he not a serious seller, he should let me know and I will give his cash to someone else. He asked me to continue to follow up with him. At what point do I back off this lead and stop following up daily?
Tweetable Topics
Resources
Please send questions you would like Michael to answer to support@bsffacademy.com and he will answer them on one of his upcoming podcasts!
Yellow Letters – www.YellowLetters.com
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