Hi Intrigue,

You have been given some great advice and also followed some tried and tested tactics to uncover these opportunities, Well Done! These properties have all sold around the price YOU thought they would… so there is only one thing you need to work on and that simply is your communication with the agent and your timing! 

No smoke and mirrors here, my advice would be to play dumb like a newbie!  Firstly don't be so quick to make low ball offers, although we all know here they were around the final mark. Also when you do make the offer, make the Agent fall in 'Love' with your approach… ie. novice to the game, tight budget, trying to get off the ground etc, but especially engage the agent to make it a reality for you. Generally MOST agents in this tuff market, want to focus on one qualified lead… because their affraid of loosing the sale all together! So play nice, don't reveal your hand, and let the agent believe when you make your offer, its down to general affordability!!

You never know, your approach previously might have sounded great to you… and to us!!  but to the agent,  no-one likes been told that the price THEY negotiated with the vendor was unrealistic and unachieveable to begin with and watch.. coz it's gonna drop and when it does, ring me! (im sure you didn't put it that way, but that's probably how they take it!)

Anyway,  best wishes and i look forward to hearing you close down these offers!!

regards, 

Dave

I agree with Scott no Mates,  And i'll also add that this bloke more than likely  sees 12 months in advance as a form of Savings. ie, his rent is paid, any other monies he can do what he wants with. Thats probably why he defaulted on a mortgage by not prioritising his savings.

With all due respect Fredo and Darren.  As much as this information might seem important here and now, there are bodies that are not recovered yet in the two towns you are speaking of.

Your investments are no where near as important as the Lives ruined by this tradgedy.  Be thankful it wasn't your house or your loved ones washed away in this disaster. 

Respectfully,

Dave

Trying to make it big in Hollywood, with a fall back to the country music scene??

California is a great place, I lived in Simi Valley for a year and loved it.

Would you invest in states you are living in? as you could save a bundle on collecting rent yourself? (there is no direct debit system in the states, and you wouldn't want cheques from your tenants as they mostly bounce!!) It all depends on if you have time to manage the properties yourself.

Dave

Hi Cas,

I would strongly advise against getting them to call you  after a day or so with their best price.  Why?  for one, they won't do it (most dealers refuse to fax quotes) and you will loose your leaverage. And shopping on used cars is an unknown variable ie, klms, condition, previous owner with any three of those factors fetching a premium and being different from yard to yard.  Make a spread sheet, with color, kms, previous owner (strongly avoid ex rental or ex gov cars!!!!) condition and price, when you find one that ticks all or most of the boxs, make your move.

What would I do? find the right car that fits all the factors including budget. Then negotiate hard with the dealer and 'Do not leave the premises' until you get what you want. If they won't budge, by all means shop around.  The best deals are always done face to face, if this is new ground for you… congrats because it will make you stronger and build your negotiation skills. 

When you have found a car you like, ask the saleman for time alone to inspect it , check it out and (look for log books) think of questions to ask.  Invite him/her over to then answer you questions.  Ask for a test drive alone, because if you can limit your time with the saleman/woman you wont like them as much and wont trust them as much and make it easier to negotiate with them.  When you get out of the car, if your happy with it. Tell them you would like to discuss figures, and if the price is right you will consider doing business on your terms.

I think you know were im coming from. Happy hunting and good luck. Be confident, friendly and assertive and you can't go wrong.

Let me know how it goes.

Regards,

Dave

On a lighter note…

I helped a friend move out when he sold his house. We spent hours and hours presenting the house in a better manner than he recieved it 16 months earlier, leaving brand new light bulbs, toliet paper on the rolls, gardens manicured to perfection. I asked why we were bothering, and he said it was just out of personal pride and respect for the new owners. I wish there  were more people  like him, i learnt alot thats for sure. Knowing that the new owners would have been over the moon to recieve a house in better condition to when they inspected it, was a good motivator on the day, and worth the extra couple of hours spent.

Hi Intrigue,

your not wrong but half the problem is that many of your potential Vendors are no doubt mortgaged to +90% therefore your low-ball offers are well below a break even price!!  This may be the case for your friend and @240 may be below what she owes on the place!

I would include in my criteria (along with your own points) houses  that have ederly vendors. They more than likely own it freehold and therefore may be open to low-ball offers because their not trying to fund an eloborate lifestyle or discharge a 97% low doc mortgage.

I might be wrong here, but does that make sense?

regards,

Dave

Thanks MarJac, the I/P is in SA.  From what I understand I will only miss out on a weeks rent (350), but I don't think my mortgage payment is due till next month anyway. So other than inconvienience, i don't think i have incurred costs for the delay (as yet anyway).  

Hi Richard,

sorry to jump in on karens thread, but my problem is in reverse: What action can I take if my Vendor is delaying settlement because he lost the title and has to apply for a new one? settlement was supposed to be on the 8th of Nov and it's now the 11th!! My funds are all ready to go.

Thanks in advance for your suggestions.

regards,

Dave

Banker you make a good point, many of us here wouldn't disagree with what you have said.

Were i get frustrated is that the Banks are just grabbing at cash.  After announcing 6 billion in profits? surely someone is having a lend of us.

Dave