A thought for a future workshop

[MarkTorgerson]

Hello

I have attended the Quickstart and have been building my portfolio. I have been trying to learn as much as I can about VTB`s, caveats, cash backs, etc. I know them in theory but am finding a large stumbling block with the realtors and/or lawyers when it comes time to write an offer. Whenever I try to get creative on the offer, I am getting a "deer in the headlight" look and it is difficult to move forward. I understand that I may need to search for a different realtor/lawyer but I want to be the expert, not them. We have talked lots about VTB`s etc but it seems that we hit a wall of confusion when it comes time to write an offer or to put our creative thoughts on paper. At least for us inexperienced investors anyways. I would personally pay good money for a "offer writing workshop", where we put our theory into reality. Spend a day with 40 or so blank offer sheets and actually fill them out one by one using various strategies and creative ideas. This would personally be gold to me. The forum is great but I still feel like I am lacking some information and experience. Maybe this is already out there and I have missed it..... Thoughts or comments????

Thanks
Mark

 

[DonCampbell]

Thanks for the insights. YES, properly negotiating, and legalizing a VTB has a number of clear steps. We presented this a couple of years ago, I guess it is time to freshen it up and bring it out again.

Keep the Suggestions Coming!

 

[ChrisDavies]

Barry McGuire offers a workshop which might be what you`re looking for.

As far as being concerned about `being the expert`, I`d suggest reality is the fastest path to actual knowledge. That is, find an actual expert and ask as many stupid questions as possible without being annoying. I`d also suggest just writing some creative offers and seeing what comes back at you; it`s easy to get stuck in the thinking stage, whereas the learning comes from the doing stage.

Cheers,

Chris

 

[TommyK]

QUOTE (DonCampbell @ Sep 24 2008, 12:18 PM) Thanks for the insights. YES, properly negotiating, and legalizing a VTB has a number of clear steps. We presented this a couple of years ago, I guess it is time to freshen it up and bring it out again.

Keep the Suggestions Coming!

This would be great for beginners like me as well! I have talked about VTBs with realtors but the idea seems to scare them (I guess the fear of making the deal more complicated?). I would love to learn how to present and write an offer with some creative strategies.

Thanks for bringing this up!

Tommy

 

[wealthyboomer]

QUOTE (DonCampbell @ Sep 24 2008, 12:18 PM) Thanks for the insights. YES, properly negotiating, and legalizing a VTB has a number of clear steps. We presented this a couple of years ago, I guess it is time to freshen it up and bring it out again.

Keep the Suggestions Coming!

Did you have Lawyers presenting that?

 

[DonCampbell]

QUOTE (wealthyboomer @ Sep 24 2008, 07:50 PM) Did you have Lawyers presenting that?

Yes we did, combined with veterans who are very good at negotiating them.

 

[MarkTorgerson]

QUOTE (ChrisDavies @ Sep 24 2008, 06:54 PM) Barry McGuire offers a workshop which might be what you`re looking for.

As far as being concerned about `being the expert`, I`d suggest reality is the fastest path to actual knowledge. That is, find an actual expert and ask as many stupid questions as possible without being annoying. I`d also suggest just writing some creative offers and seeing what comes back at you; it`s easy to get stuck in the thinking stage, whereas the learning comes from the doing stage.

Cheers,

Chris

I have tried the doing part and actually own 43 doors to date. But all of my deals have been JV`s with no VTB`s. I have tried to get different realtors to put VTB`s in the offer and there is a constant reluctance. It is mainly because they are scared of them. I know exactly how I want to do the deals. It is the putting them on paper part and the actual flow for the transaction that I am finding difficulty with. I am confident I could have a few more deals under my belt if I had some VTB offer writing experience.

THX

 

[GregGillespie]

Hi Mark,

I am going to take a chance and say the issue seems to be with your team (specifically your realtor)...you obviously understand the structure and benefits of VTBs. The key is going to be your ability to sell the concept of a VTB to your realtor first so that they can subsequently sell it to the vendor. Alternatively, a well crafted cover letter may be even more effective-be sure to include it as an addendum to the purchase contract.

If your realtor is hesitant to learn about and sell VTBs or they are uncomfortable including your cover letter, I would look for another team member who is more congruent with your vision and goals.

Just my thoughts...

Greg

QUOTE (MarkTorgerson @ Sep 25 2008, 07:12 PM) I have tried the doing part and actually own 43 doors to date. But all of my deals have been JV`s with no VTB`s. I have tried to get different realtors to put VTB`s in the offer and there is a constant reluctance. It is mainly because they are scared of them. I know exactly how I want to do the deals. It is the putting them on paper part and the actual flow for the transaction that I am finding difficulty with. I am confident I could have a few more deals under my belt if I had some VTB offer writing experience.

THX

 

[ChrisDavies]

Greg answered better than I could have. I agree entirely.

 

[MarkTorgerson]

QUOTE (GregGillespie @ Sep 26 2008, 10:50 AM) Hi Mark,

I am going to take a chance and say the issue seems to be with your team (specifically your realtor)...you obviously understand the structure and benefits of VTBs. The key is going to be your ability to sell the concept of a VTB to your realtor first so that they can subsequently sell it to the vendor. Alternatively, a well crafted cover letter may be even more effective-be sure to include it as an addendum to the purchase contract.

If your realtor is hesitant to learn about and sell VTBs or they are uncomfortable including your cover letter, I would look for another team member who is more congruent with your vision and goals.

Just my thoughts...

Greg

I fully agree that the realtor could be the issue and I am looking for an alternate. But knowledge is power and if there was an option of having experienced veterans going through the specific steps of various creative deals, I would be all over it. It just doesn`t have to be VTB`s that we are talking about.

Mark