Shopping for Properties – 6 Offers Today

We’re out there shopping for property like crazy.  Today alone we sent in 6 offers, plus did verbals and follow up on 10 more properties.  Since we sold our big house we have some cash and are trying to buy 4 or 5 in March.

I do have one escrow that should close on Wednesday 3/3, so that leaves only 3 or 4 more, boy do I have the month cut out for me.  Any Southern California wholesalers feel free to hit me up.

The offers we are writing right now are really clean, huge earnest money deposits (50-100%), no contingencies and a 14-day closing.  So I am hoping we can get some of our offers.  The banks really seem to be raising prices right now and I am just not willing to participate in that.  The “shadow inventory” everyone talks about is there, I just don’t know when it is going to hit and how slowly the government is going to leak it out.

I’ll write a post tomorrow summarizing February.  We’re still on schedule but not inching ahead of our goals, like I was hoping too (maybe I should of set them higher, lol).

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5 Responses to “ Shopping for Properties – 6 Offers Today ”

  1. qknic says:

    Congrats on your month! Mine is slow, finishing my 2nd project. But waiting for the buyers to come so I can have the $$$ to move on to projects 3,4 & 5. Are you using a company for your HML? which ones?

    thx and congrats again!

  2. Steve says:

    I use a local company I heard about from some of the local RE clubs. There seems to be quite a few HML in California though, that all offer similar rates.

    Good luck on finding buyers!

  3. qknic says:

    Thanks, there are few HML here in New Mexico from what I gather. I need some more sources cause im finding deals left and right and my personal reserves are running low. LOL

  4. Steve,

    Do you use docusign to sign all the offers or are you doing it by hand?
    Also do you just have a standard package you put together with financial’s ?

    Do you drive the properties first?

  5. Steve says:

    I sign them all by hand, unless I have already worked with the REO agent and they are okay with DocuSign. I’ve had it rejected before. I use MyFax and basically sign and fax the document to myself and email it to the agents.

    I drive every property before I offer. I’ve messed with all kinds of different packages, right now it’s simplified, bank statement, copy of the check, and the offer all in one file.

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