The Wrong Question To Ask In selling Foreclosures
My Real Estate Apprentice member Jeff Herbel posed a very interesting question today - at what time you know that you should hire an assistant? Or more importantly at what point you know that you are no longer a real estate investor but have become a Deal Maker!
I was not in the room at the time, so Nora ended up volunteering me into doing a whole Apprentice Session on it - i.e., running your real estate business not like a hobby, but really putting systems in place that will make it happen as quickly as possible. How to do it and more importantly how to make it happen rapidly.
Ah Thanks Nora! I can always use a 4 hour session. :-)
The thing that annoys me the most and some of my Gold Plus members needlessly obsessed about it too all the time - you know what I am talking about - the age old question of “where are the deals!” . Practice saying it with enormous frustration in your voice and you got the dilemma of a new real estate investor.
Who care? Deals are easy to find. In Southeast Michigan, just in three counties 1400 - 17000 foreclosures happening every single month. What is so hard about finding a deal? There are bigger challenges at hand, which require far more greater thought and preparation than just finding a deal.
Here is a question for you, and see if you can honestly come up with an answer for this real life business proposal. I have this house that I bought for $150,000, repairs needed $40,000, after repair value $280,000! It will be done in four weeks. Spiffy as New!
You and me are partners in this house! We are goning to move this baby and pocket couple of thousands smakaroos! Tell me some of the ways you can help me sell the house!
Oh, I don't want to drop the price either. I want to sell the house at $280,000.
See, and you thought finding a deal was the tricky part!