Comments on: Real Estate Investing Blog Contest- Battle of the REI Blogs

By: Stephani

Stephani — Fri, 06 Nov 2009 02:24:59 +0000

Hi Jason,

I make my offers directly to the listing agents.

I usually don’t put something under contract unless I’m 99% sure I can wholesale it. If you don’t have any contingencies in your offer and you can’t wholesale it, then you will lose your earnest money deposit.

Regarding the closing date- that depends on what date you put in your offer…

Steph

By: Jason

Jason — Fri, 06 Nov 2009 02:17:15 +0000

hey steph

do you you use one personal realtor for all your offers?

what do you do if you cant wholesale a REO?

how many days do the banks give you till closing date without any contingecies?

By: I Aint Goin Down Without a Fight! (Cue Rocky Theme Song).. | Flip This Wholesaler

Tue, 27 Oct 2009 18:04:47 +0000

[...] OK, guys, the results are in from the first day of voting for the Battle of the Blogs contest that I talked about in my last post. [...]

By: Stephani

Stephani — Tue, 27 Oct 2009 16:48:40 +0000

Yay-woohoo!

I’m in 4th place right now, so I need all the help I can get!

By: Justin H

Justin H — Tue, 27 Oct 2009 16:47:22 +0000

my vote for you is in!! (You earned it )

By: Stephani

Stephani — Tue, 27 Oct 2009 16:05:31 +0000

Yup. I have a handful of solid buyers that I work with, and I know exactly what they are looking for, so I feel very comfortable when I’m making offers. I also know the areas really well that I am working in, so I know when a deal is a deal.

It takes awhile to learn your market and get to that point, though, so like I said, just make offers that you feel comfortable with…

HTH,
Steph

P.S.
Please vote for my blog Everybody- I’m getting stomped over there!
http://www.kickstartcart.com/app/?af=1078324

By: Justin H

Justin H — Tue, 27 Oct 2009 15:23:37 +0000

Thanks Steph. Do you just have enough experience and large enough buyer network to feel comfortable not having any way out?

By: Shae

Shae — Tue, 27 Oct 2009 14:29:56 +0000

.-= Shae´s last blog ..Crush It: Nuggets of Wisdom =-.

By: Stephani

Stephani — Tue, 27 Oct 2009 14:07:58 +0000

Sorry Jason…

I don’t think a coin toss is fair, though- I always lose them..

By: Stephani

Stephani — Tue, 27 Oct 2009 14:06:59 +0000

Hi Justin,

If your intent is to back out if you can’t find a buyer, then you will want to leave yourself an out in the contract. Just keep in mind that the more contingencies you have in your offer, the less likely the bank is to accept it. Also, if you make a habit of putting properties under contract and then backing out, you will start to develop a bad reputation with the agents, which is not a good thing..

Bottom line, though, put whichever contingencies you feel comfortable with in your offer, but just be aware of the fact that clean, cash offers carry far more weight…

HTH,
Steph