Now that I have your attention.......
There have been a lot of posts here about low ball offers and debates about sending them, how to deal with them, are they good or are they bad.
Question: Are agents and investors that send low offers total Boneheads?
Steps to an offer:
- Find property (10 minutes)
- Drive to property (10-30 minutes)
- Look at property (10-60 minutes)
- Drive back (10-30 minutes)
- Research property (10 minutes)
- Run proforma (10 minutes)
- Discuss (10 minutes)
So, for the average property the buyer and agent are spending approximately 70 minutes +/- trying to determine if Pretty Property fits the investment criteria for the buyer.
Guess What? Most times, there will be a price that makes the investment work !
Now you have already spent an hour on this. The next step is to make a choice. Do I
•(a) throw all of this in the trash because the asking price is a lot higher than the price Investor will pay;
•(b) spend another 5 minutes filling in the little blanks in the pre-printed form (an added burden, I admit) and schlep my butt over to the fax machine.
Schlep: A technical term meaning drag a heavy load.
Answer to Question: You are a Bonehead if you don't send them !!
So you say: "Ok, Rich. You've dangled the hook and we took the bait. Give us the rest"
In true "trying to be a guru" form, I must respond that this is all you get without buying my book. It's a 1 Trillion Dollar value that can be yours for 74 low payments of $47.99. We take Visa.
Just kidding. I need to go to the Circus with my daughter. I will do more later.
;)
;)
