Tuesday, May 28, 2019
Monday, May 6, 2019
These 4 Simple Words Can Be Worth $1000s!
Detroit real estate expert and author shares his 15 years of experience as a real estate broker and investor...
(watch video on YouTube)
When I first got licensed as a real estate agent 15 years ago, I was excited because I had worked out one of my first deals. I was telling one of the agents in my office about it and he asked me did I have it in writing? And I said 'no, I don't. I just worked it out with the other agent over the phone.' Then he told me an old adage that I will never forget. He said 'a verbal contract isn't worth the paper that it is printed on.'
In real estate, you will here alot of different adages and phrases tossed around like 'time is of the essence' or 'caveat emptor'. I could go on and on but what words do you use in a contract so that you are in a position to make $1000s on your buy and flip deal?
The 4 simple words are:
"and/or as assigned'
These 4 simple words give you the power to assign and sell your interest in a buy and sell contract. This is the way that investors are able to buy and flip properties without using any of their own money and still make substantial profits. I will be showing you how to do this in more detail in upcoming articles and videos, so make sure you follow or subscribe to my YouTube channel.
Now without including these 4 words in your buy and sell contract, you cannot assign the contract and will have to use your own funds to acquire the property.
So make sure you add these 4 simple words 'and/or as assigned' to your next buy and sale contract to empower you to earn $1000s on your next buy and flip deal.
For tips and strategies on how to be successful in real estate investing, subscribe now to my YouTube channel and follow me on the gram!
(watch video on YouTube)
When I first got licensed as a real estate agent 15 years ago, I was excited because I had worked out one of my first deals. I was telling one of the agents in my office about it and he asked me did I have it in writing? And I said 'no, I don't. I just worked it out with the other agent over the phone.' Then he told me an old adage that I will never forget. He said 'a verbal contract isn't worth the paper that it is printed on.'
In real estate, you will here alot of different adages and phrases tossed around like 'time is of the essence' or 'caveat emptor'. I could go on and on but what words do you use in a contract so that you are in a position to make $1000s on your buy and flip deal?
The 4 simple words are:
"and/or as assigned'
These 4 simple words give you the power to assign and sell your interest in a buy and sell contract. This is the way that investors are able to buy and flip properties without using any of their own money and still make substantial profits. I will be showing you how to do this in more detail in upcoming articles and videos, so make sure you follow or subscribe to my YouTube channel.
Now without including these 4 words in your buy and sell contract, you cannot assign the contract and will have to use your own funds to acquire the property.
So make sure you add these 4 simple words 'and/or as assigned' to your next buy and sale contract to empower you to earn $1000s on your next buy and flip deal.
For tips and strategies on how to be successful in real estate investing, subscribe now to my YouTube channel and follow me on the gram!
Friday, May 3, 2019
How To Make Your Offer Sexy to a Seller!
Detroit real estate expert and author Anthony Legins shares his 15 years of experience as a real estate broker and investor...
(watch video on YouTube)
When you present your offer to purchase your new home or investment property, you want your offer to be desirable to the seller. You want to present an attractive offer. You want the seller to be turned on by your offer..not turned off.
Now when I say making your offer sexy to the seller, I'm not talking about sending a birthday cake to the seller's house with a stripper popping out the cake with your offer in hand (although that might actually work, depending on the seller lol).
But seriously, how do you present a sexy offer to a seller?
By far, the sexiest offer is always going to be an offer for the full price and terms that are being offered by the seller. Essentially this is an offer for full asking price with no contingencies.
As long as you are not dealing with a multiples offers situation, you have the highest chance of seller acceptance with a full price and terms offer.
Yet besides the asking price, there are other factors that a seller considers when reviewing an offer.
These factors include:
• Timeframe for private inspection
• Are you asking for home repairs?
• Do you need seller concessions?
• How quickly can you close?
• Are you buying cash or mortgage?
• Is your offer dependent upon selling your current home?
There are other factors that the seller will consider , however in my 15 years of experience, these are the primary secondary factors that a seller considers in an offer.
So if you want to make your offer sexy, then try to reduce or remove the number of contingencies in your offer. The seller will like that.
And if you want to present the sexiest offer, then definitely offer full price and terms for the home.
The seller will definitely be turned on by that!
(watch video on YouTube)
When you present your offer to purchase your new home or investment property, you want your offer to be desirable to the seller. You want to present an attractive offer. You want the seller to be turned on by your offer..not turned off.
Now when I say making your offer sexy to the seller, I'm not talking about sending a birthday cake to the seller's house with a stripper popping out the cake with your offer in hand (although that might actually work, depending on the seller lol).
But seriously, how do you present a sexy offer to a seller?
By far, the sexiest offer is always going to be an offer for the full price and terms that are being offered by the seller. Essentially this is an offer for full asking price with no contingencies.
As long as you are not dealing with a multiples offers situation, you have the highest chance of seller acceptance with a full price and terms offer.
Yet besides the asking price, there are other factors that a seller considers when reviewing an offer.
These factors include:
• Timeframe for private inspection
• Are you asking for home repairs?
• Do you need seller concessions?
• How quickly can you close?
• Are you buying cash or mortgage?
• Is your offer dependent upon selling your current home?
There are other factors that the seller will consider , however in my 15 years of experience, these are the primary secondary factors that a seller considers in an offer.
So if you want to make your offer sexy, then try to reduce or remove the number of contingencies in your offer. The seller will like that.
And if you want to present the sexiest offer, then definitely offer full price and terms for the home.
The seller will definitely be turned on by that!
Wednesday, May 1, 2019
How to Succeed in a multiple offers situation
(Watch video of YouTube)
If you have been searching for your home for a while, I am certain that you have encountered the dreaded words 'multiple offers situation'.
If you are not familiar with a multiple offers situation, this is when a home that you either want to make an offer on or have made an offer, has received more than one offer to purchase. This creates a more competitive situation where you must compete against one or more buyers for the same home.
Over the past 15 years, I have experienced multiple offer situations hundreds, if not thousands of times, as both a broker and a buyer myself and I must say that there is nothing more frustrating then when you find out that a home that you really want to buy has multiple offers on it!
The good news is that I have helped multiple home buyers like yourself to succeed in multiple offers situations!
So what are the best strategies to succeed when you encounter a multiple offers situation?
What I often suggest to my clients is that, if you really want the property, to be prepared to offer full price or higher. There is really no way around this. If you are not prepared to offer full price or higher, I recommend that you continue your home search.
The reason I say this is because a multiple offer situation is a highly competitive situation and you are competing against other home buyers who have a similar emotional attachment to the property. So basically, they feel the same way as you do. They feel that they have found the right home for them. It is everything that they want in a home. They have been looking for while, just like you, and they are ready to present their highest and best offer in order to buy this home.
Next I suggest that you place your highest and best offer because this will be your last and final chance to make an offer on this home. So you might as well make it your absolute best!
You can also make your offer more attractive to a seller by increasing the amount of your earnest money deposit. For example, instead of offering $1000 earnest money deposit, you might want to consider offering $2000 or higher. This will reflect to the seller how serious you are and will make your offer stand out. And remember that your earnest money deposit will be applied towards your purchase price and closing costs.
Another thing you can do is reduce or remove contingencies 8n your offer. For example, a common contingency is a private inspection contingency. This is when your offer is contingent upon successful private inspection of the property. You can gain a slight advantage by either removing this contingency or reducing the amount of time needed for the private inspection. Instead of 7 days, can you get it done in 3 or 5 days?
Let's quickly review:
• Be prepared to offer full price or higher
• Present your highest and best offer
• Offer a higher earnest money deposit
• Reduce or remove contingencies in your offer
You can use these strategies to succeed in your multiple offer situation and if you would like my professional help, advise or consultation, please visit my website at: www.anthonywlegins.com or comment below.
For more useful tips and strategies, you can subscribe to my YouTube channel and follow me on Instagram.
If you have been searching for your home for a while, I am certain that you have encountered the dreaded words 'multiple offers situation'.
If you are not familiar with a multiple offers situation, this is when a home that you either want to make an offer on or have made an offer, has received more than one offer to purchase. This creates a more competitive situation where you must compete against one or more buyers for the same home.
Over the past 15 years, I have experienced multiple offer situations hundreds, if not thousands of times, as both a broker and a buyer myself and I must say that there is nothing more frustrating then when you find out that a home that you really want to buy has multiple offers on it!
The good news is that I have helped multiple home buyers like yourself to succeed in multiple offers situations!
So what are the best strategies to succeed when you encounter a multiple offers situation?
What I often suggest to my clients is that, if you really want the property, to be prepared to offer full price or higher. There is really no way around this. If you are not prepared to offer full price or higher, I recommend that you continue your home search.
The reason I say this is because a multiple offer situation is a highly competitive situation and you are competing against other home buyers who have a similar emotional attachment to the property. So basically, they feel the same way as you do. They feel that they have found the right home for them. It is everything that they want in a home. They have been looking for while, just like you, and they are ready to present their highest and best offer in order to buy this home.
Next I suggest that you place your highest and best offer because this will be your last and final chance to make an offer on this home. So you might as well make it your absolute best!
You can also make your offer more attractive to a seller by increasing the amount of your earnest money deposit. For example, instead of offering $1000 earnest money deposit, you might want to consider offering $2000 or higher. This will reflect to the seller how serious you are and will make your offer stand out. And remember that your earnest money deposit will be applied towards your purchase price and closing costs.
Another thing you can do is reduce or remove contingencies 8n your offer. For example, a common contingency is a private inspection contingency. This is when your offer is contingent upon successful private inspection of the property. You can gain a slight advantage by either removing this contingency or reducing the amount of time needed for the private inspection. Instead of 7 days, can you get it done in 3 or 5 days?
Let's quickly review:
• Be prepared to offer full price or higher
• Present your highest and best offer
• Offer a higher earnest money deposit
• Reduce or remove contingencies in your offer
You can use these strategies to succeed in your multiple offer situation and if you would like my professional help, advise or consultation, please visit my website at: www.anthonywlegins.com or comment below.
For more useful tips and strategies, you can subscribe to my YouTube channel and follow me on Instagram.
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