Fixer Uppers

Good luck to you.  I have recently started working with an investor who buys and rehabs properties.  I have gotten a good feel for the kinds of properties he is interested in purchasing.  It is exciting to know there is the possibility of multiple purchases and repeat business.  It also involves writing a lot of offers that are just that...offers.  Many are low and never get negotiated to contract.  These guys are pros and know that they can only spend a certain amount on the property and repairs to stay far enough below ARV to make it a worthwhile project.  They keep the emotion out of it and move on to the next property when the $$$ don't work,  I have written 6 offers in 3 weeks.  One is under contract and should close in about 10 days.  Two went under contract before our offer got in (! was waiting on the response to a counter and it got accepted),  One was rejected.  Two were countered and we countered back, but have not gotten a response.  Don't get me wrong, I am very grateful for the opportunity.  It just sounds like less work than it actually is. 

I remember my first investor clients when I was working in the Palo Alto, Los Altos Hills area. They had the same problem of understanding the market back when 1990 when there was another market slump.

Investors are great because, for the most part, they know what they don't know and once they find an "expert" (like you), you can take the relationship. 

Investors are WONDERFUL!  They buy on number and not emotions.  I will take a numbers client over an emotional buyer almost any day of the week!  I would not want to give up completely on my emotion buying clients - because the satisfaction I get from a buyer finding the home of their dreams is different then the paychecks I get from my investors!

If you are looking for more investors join a local real estate investing group. They are a lot of fun - they can also help you make deals out of deals you may have normally walked away from!

Right now we have a few investment properties that are way over priced and I have a few investors that are interested, but can't get them to understand that an offer might be accepted, no matter how low. Is there a way to convince them to bring an offer? I keep telling them what to offer and they laugh. I'd rather deal with people that need a house than an investor that doesn't know my market area. Way to many hours put into this and still don't know if it will go to closing. I guess this is the business.....

Great topic.  I just staged a vacant single family house for an investor that has sat on the market a year.  What a great experience, so business like, no emotional entanglement, no overblown expectations, no hassle with the budget.  Just a blessed breeze.  And, he wants to do more.  Hallaluyah!!