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How to eliminate "difficult" clients with low scores and make money at the same time

By
Services for Real Estate Pros with Starnes Holdings & Investments, LLC

Wow! How is that possible....? Its actually quite simple. First, you must find an investor that holds properties in your area and is willing to sell them. Go to the investor and find out if they are tired of the rental business. This shouldn't be too difficult. There are literally hundreds of "land lords" out there, that are absolutely miserable. They are tired of the late payments and maintanence problems. The tenants that leave with no warning and 2 months of rent unpaid. Probably would sell in a New York minute, but won't or can't spend a dime on fixing the place up to get fair market...Once you locate this guy ask him if he would sell if you could get him fair market minus the necessary repairs needed to fix the place up. If he agrees, then you are well on your way... Negotiate your contract to be an option to purchase. Bring in your client with a nice hefty option payment up front plus first months lease payment which you keep. No bank qualifying is required. However, this won't work with a client that has a previous foreclosure or bankruptcy. Once the client is in the home and making lease payments to the owner you go to www.securegoodcredit.com and get a FREE credit repair tool kit. Get their credit fixed and voila, get them a loan and cash out the seller.

Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

There can be quite a lot of liability and risk that the agent doesn't get paid.  Also, I think it would be advisable to get a lawyer to draft the agreement...unless your board has one.

Aug 17, 2007 08:30 AM
Bryant R. Starnes
Starnes Holdings & Investments, LLC - Kannapolis, NC
Yes, you should consult a good real estate attorney. That's alway good advice. I think some of the rules and regulations that Realtors have in place to protect them and their interest, can sometimes hinder them from being able to step outside of the box and creatively put a deal together. I've had several realtor friends of mine give me some of the best advice I've ever heard when it came to structuring a deal that was win-win for all parties involved. But they couldn't propose the same deal due to the "rules".
Aug 17, 2007 08:36 AM
Kate Brantly
Brantly Realty Co - Asheville, NC
Hi Bryant: Keep up the good 'out of the box' info; new paradigms will be key in the coming months...Real Estate, as we know it today, is changing fast, likely for the better, and 'agents' will become its dinosaur without creative problem solving, or creative package selling measures as in your suggestions...Glad you jumped on board, Kate.
Aug 18, 2007 12:57 PM
Bryant R. Starnes
Starnes Holdings & Investments, LLC - Kannapolis, NC
Thanks Kate. I really appreciate that. Hopefully, we can start to build that relationship between investors and realtors. We want you guys on our side or us on yours, whichever, as long as we are working together and towards a common goal.
Aug 18, 2007 01:05 PM
Kate Brantly
Brantly Realty Co - Asheville, NC
Been busy setting up Brantly Realty Co, but whatever the intent, as long as a 'live buyer' is looking, regardless of their short, medium, long term goals...I am listening. Definitely on your side and anyone else's who is facilitating and acquiring Real Estate.
Aug 21, 2007 08:43 AM
Bryant R. Starnes
Starnes Holdings & Investments, LLC - Kannapolis, NC
Thanks Kate, I appreciate that.
Aug 21, 2007 09:33 AM