I don't know about you but I find it fascinating how, when, where and why things pop into my brain.
I just drove by a home with a sign out front that said "For Sale by Owner". I scribbled down the phone number and called, leaving a message when I got voice mail. My goal? Have him be willing to receive my Newsletter and educate him about seller financing. If in fact he sells his home using seller financing, hopefully I will have helped and he can come to me should he decide to sell his note for cash.
But this incident then brought back a memory from some time ago.I had lunch with an experienced real estate agent. We had met shortly before at an industry meeting.We hit it off immediately and had a lot in common - East Coast guys, military background, loved to play golf. Towards the end of lunch we talked about business. He loved real estate and had adapted well during the recent tough times. When he asked me to explain what I did, I was taken aback at the comment he made afterward. He said he thought a For Sale by Owner and Seller Financing were the same thing. In other words, if a seller decided to sell his property on his own, without an agent,
that automatically meant the seller was willing to be the bank and carry the financing! This is what he believed.
I explained "maybe" but they are really mutually exclusive. The seller may be motivated to not have an agent thinking he will save money and not pay a commission, but he may fully expect the buyer to provide the financing. Plus, many sellers don't fully understand how to properly use seller financing to fit THEIR needs, not the needs of the buyer. This is the reason why sellers must be educated. If they believe they have to be both banker and landlord forever, they have no interest. They need to know the note they create and the monthly payments they are receiving can be converted to CASH.
Before we finished lunch, he got it, and now viewed seller financing as his friend, not a competitor.
Before I close, I want to mention a couple people for you to consider checking out. Diana Hill and Ken Stimson have been friends for several years, real estate pros who focus on purchasing Probate Real Estate. On August 28 and 29, they will have their annual Rivers of Gold Probate Workshop in Las Vegas, where you will learn how to find and make offers on this under the radar niche market. They will take you to probate properties, so you will get a terrific hands on two days with them. I have taken this course and bought probate property. Get details at www.RiversofGold.net. They are offering a discount up to June 30.Tell them Denny sent you.
While in New York recently, I became friendly with Bill Earle. Bill has 40 years experience in the investment world, and has a very interesting software program that will track and provide weekly reports on your EXISTING stock portfolio. He will give you a trial run to test it out. You can check it out at www.protect-my-retirement-funds.com or email Bill at bill@protect-my-retirement-funds.com. Again, tell him Denny sent you.
Regards,
Denny Stanz
760-245-5366
760-245-5367 fax
dennystanz@verizon.net
www.CaliforniaNoteBuyerLLC.com
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