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Response to an I buy homes ad on Kijiji

N

nubiwan

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Got this from my Kijiji ad telling people I buy houses.

Unless this guy is able to sell to me at 20-25% below FMV, then I am not interested, correct? How do I ask him nicely? I`ve asked for other house details from him (listing price, his resonble price, the bare minimum price he`d accept, when he`s moving to the new house). Anything more you can suggest I ask or consider if it turns out he`s really anxious to part with the place.


QUOTE HI
I am interested in selling my home. I currently have it listed, but it hasn`t sold and I have purchased another. My home is a beautiful two storey, colonial, 3 bedroom, 4 bath colonial in the west end of our town. I am wondering what you can do for me? You can email me or call me after 5:00 during the weekday at 690-XXXX. Thanks
 
Assuming you have a RE agent or someone to give you up to date FMV based on homes sold you must also determine what repair work is required and determine what the ARV is on the property.
Once you reduce the FMV by the amount you wish (20-30%) you then must reduce the price by the cost of repairs required.
Then make him an offer.
Knowing what he wants for the home may give you an idea of where he sits but if he is having trouble selling his price is most likely too high anyway.
Make your offer and wait to see if he comes back but remember your price is based on making a profit and should not be negotiable.
 
QUOTE (invst4profit @ Oct 12 2009, 05:20 PM) Assuming you have a RE agent or someone to give you up to date FMV based on homes sold you must also determine what repair work is required and determine what the ARV is on the property.
Once you reduce the FMV by the amount you wish (20-30%) you then must reduce the price by the cost of repairs required.
Then make him an offer.
Knowing what he wants for the home may give you an idea of where he sits but if he is having trouble selling his price is most likely too high anyway.
Make your offer and wait to see if he comes back but remember your price is based on making a profit and should not be negotiable.

Well, I am pretty sure there is no renovation angle here. His house is likely overpriced if it hasn`t sold in our pretty active market. The inent of my initial ad is to find fixer uppers or homes nobody wants - stinkers etc. This place sounds postively dreamy compared to the stuff I step into, so not holding out for much.
 
Will you be attending the Ron LeGrand event this week?

QUOTE (nubiwan @ Oct 12 2009, 01:15 PM) Got this from my Kijiji ad telling people I buy houses.

Unless this guy is able to sell to me at 20-25% below FMV, then I am not interested, correct? How do I ask him nicely? I`ve asked for other house details from him (listing price, his resonble price, the bare minimum price he`d accept, when he`s moving to the new house). Anything more you can suggest I ask or consider if it turns out he`s really anxious to part with the place.
 
QUOTE (tonypeters @ Oct 12 2009, 11:10 PM) Will you be attending the Ron LeGrand event this week?

err, unfortunately not. I am a pretty new contributor to the forum. I also live in Newfoundland, so putting 3-5 grand into a seminar in Alberta would probably not be looked upon too favourably by the better half. I took a look atthe video preamble that was circulated. Not sure there are the same commercial opportunites available here in Newfoundland as in larger centres. Particularly multifamily.

Still, would consider buying a reasonably priced video of the event if one were made available. Still trying to determine how a membership with REIN is going to benefit me directly, out here in the east. Majority of REIN members being westerners and / or from Ontario.

Tks
Tony
 
Limited value if you can not go to the meetings and benefit from the networking. I felt being 2 hrs away from the meetings was too far for me to join but I also had no need to generate partners.
 
The reason for my question was based on some of the confusion and lack of understanding that I have noticed over the past few weeks on this forum. If you had said yes, I would have advised you to wait until after the event before taking ANY action!
Please do not take this the wrong way, but if you do not educate yourself properly, you may very well end up attending a "real life and costly seminar of your own"!

My personal motto is; Educate, Take Action, Educate More, Take More Action...

It`s too bad that you are unable to make this event, so maybe you can find a way to attend one of Ron LeGrand`s events in the future? With that said, it looks as though he may be putting on an event in Ontario later this year. Please do not quote me on that, but I did hear a rumor.


QUOTE (nubiwan @ Oct 13 2009, 03:59 PM) err, unfortunately not. I am a pretty new contributor to the forum. I also live in Newfoundland, so putting 3-5 grand into a seminar in Alberta would probably not be looked upon too favourably by the better half. I took a look atthe video preamble that was circulated. Not sure there are the same commercial opportunites available here in Newfoundland as in larger centres. Particularly multifamily.

Still, would consider buying a reasonably priced video of the event if one were made available. Still trying to determine how a membership with REIN is going to benefit me directly, out here in the east. Majority of REIN members being westerners and / or from Ontario.

Tks
Tony
 
QUOTE (tonypeters @ Oct 13 2009, 10:14 PM) The reason for my question was based on some of the confusion and lack of understanding that I have noticed over the past few weeks on this forum. If you had said yes, I would have advised you to wait until after the event before taking ANY action!
Please do not take this the wrong way, but if you do not educate yourself properly, you may very well end up attending a "real life and costly seminar of your own"!

My personal motto is; Educate, Take Action, Educate More, Take More Action...

It`s too bad that you are unable to make this event, so maybe you can find a way to attend one of Ron LeGrand`s events in the future? With that said, it looks as though he may be putting on an event in Ontario later this year. Please do not quote me on that, but I did hear a rumor.

Thanks for the advice, and it is well heeded. In return, I don`t mean to sound harsh in my response, but I like to think that I am not making light of any decisions I make, and feel I have learned enough on my own at this point, to be able to see a bargain, and a dud opportunity. Likewise, I have also invested a fair bit of time and money in educating myself on how to make a go in this business. Unfortunately, a lot of that stuff is US specific guru hype, and more importantly not relevant in Canada. It seems, wading through the bull is all part and parcel of this industry. Which brings me to my current dilemma.

Like I have indicated, I am trying to decide on whether or not membership in REIN is warranted for me. Sure you can appreciate the apprehension. I have bought a couple of the Canadian specific offerings from this site (2 books). I found one quite informative on Real Estate legality Canada, if lacking in the actual how to go about investing in properties side of things. The other highly recommended e-book I bought was pretty light weight to be honest, and I have read much of what was contained in that $40 book on this forum, and elsewhere. I felt a little done by buying it to be fair, and that type of thing leaves me a little skeptical. I am left thinking what a $1000 plus investment in REIN ACRE programs or Ron Legrand workshops is really going to offer me. Particularly, as I live in Newfoundland, and much of the REIN focus appears to be in the west, if not on multifamily units, of which there are few in this province to be had.

I am open to hear opinions of REIN members who might have been in the same position I am in, and words of encouragement. Perhaps someone point me to a place where this might be answered already? I`ll also search the forums.

Cheers
Tony
 
QUOTE (nubiwan @ Oct 14 2009, 05:32 AM) Thanks for the advice, and it is well heeded. In return, I don`t mean to sound harsh in my response, but I like to think that I am not making light of any decisions I make, and feel I have learned enough on my own at this point, to be able to see a bargain, and a dud opportunity. Likewise, I have also invested a fair bit of time and money in educating myself on how to make a go in this business. Unfortunately, a lot of that stuff is US specific guru hype, and more importantly not relevant in Canada. It seems, wading through the bull is all part and parcel of this industry. Which brings me to my current dilemma.
Like I have indicated, I am trying to decide on whether or not membership in REIN is warranted for me. Sure you can appreciate the apprehension. I have bought a couple of the Canadian specific offerings from this site (2 books). I found one quite informative on Real Estate legality Canada, if lacking in the actual how to go about investing in properties side of things. The other highly recommended e-book I bought was pretty light weight to be honest, and I have read much of what was contained in that $40 book on this forum, and elsewhere. I felt a little done by buying it to be fair, and that type of thing leaves me a little skeptical. I am left thinking what a $1000 plus investment in REIN ACRE programs or Ron Legrand workshops is really going to offer me. Particularly, as I live in Newfoundland, and much of the REIN focus appears to be in the west, if not on multifamily units, of which there are few in this province to be had.

I am open to hear opinions of REIN members who might have been in the same position I am in, and words of encouragement. Perhaps someone point me to a place where this might be answered already? I`ll also search the forums.

Cheers
Tony

Tony in my opinion the REIN membership is invaluable in terms of information and networking. Considering your location, networking will be a challenge. I do know REIN offers a mail in membership which I know several local people to me have chosen, why, I`m not sure since as I said networking is one of the most valuable aspects to me.
Contact the REIN office and consider the mail in membership which gives you the option of going to some of the conference weekends offered.
Many of us were in the same position as you at one time, once we joined we realized the cost of membership is simply the cost of doing business - and you are in business.
The biggest gain you will realize is a change in mindset, you learn, you implement, you help others, not always in that order but you always come out way ahead.
And by the way I am doing the Ron Legrand course that Tony Peters mentioned and have listened to the recordings, it will be Canadianized and Ron is the real deal, shoots from the hip, no BS and a plethora of useful information.
Contact me personally any time if you want more information.
 
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