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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: David Jones who wrote (1858)2/23/2002 7:34:48 AM
From: Steve LeeRead Replies (3) of 306849
 
Let me spell it out real plain so you can understand:

1) The seller advertisers with an agent.
2) I look at the property.
3) I call the agent and offer a low price. I tell him I have cash waiting and can complete the deal as soon as the paperwork is ready.
4) The agent is obliged to tell his client, the seller, that I have made an offer on his property.
5) The agent can advise the seller what to do but the decision is down to the seller.
6) When an offer is accepted, I pay cash, no mortgage involved.
7) Once I own the property, I get it mortgaged (sometimes for more than what I paid for it) to free up the capital for another investment.

I'm sorry you think my method is suspect but I can't undo the deals now because you don't like them <g>.
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