WHAT CRITERIA SHOULD BE MET BEFORE CALLING ABOUT A LEAD?
The more you can tell us about the property, the easier it is for us to determine our interest. We would like to know the following: Why is it for sale. Is it a foreclosure, inheritance, divorce, etc. Is it a private sale or with a real estate. Who owns it now, a bank or individual. Is there a mortgage or taxes owed or other liens. What are the houses in the neighborhood worth. How much work does it need (a little cosmetic, paint,etc. or a lot or complete rehab). How much is the asking price.
We prefer the houses to be vacant or soon to be vacant. 1-4 family houses. We are interested in the following counties: Bergen, Passaic, Hudson, Middlesex, Union, Hudson, Essex & Monmouth.
HOW DO I KNOW YOU HAVE THE MONEY?
A gentlemen asked me this question on a Friday. He said how do I know you have the money to close on Monday? I told him what I would tell anyone who asks me that question. And that is this: If I like the information you give me over the phone and I tell you I’m going to drive to the location the next day or two, means I have the money to do the deal. I don’t waste time driving around looking at houses for sale. I could do that all day long and never make a deal. I only go to the houses that make “paper sense”. I’m not a “lookie looker”. I won’t waste my time or waste your time on a house I can’t close. If my criteria is met, I will look at the property. If I like what I see, I will purchase the property. For fast deals, the more information you can give me, the better. Also if I like the deal, I will show you proof of funds.
WILL YOU JUST LEND ME MONEY FOR MY OWN DEALS?
No. We are not a lending institution. We are not private lenders. Our funds are for the deals that we purchase ourselves or with for any joint venture deals.
CAN WE BE PARTNERS?
Not in the real sense of the word “partners”. But if your qualified to handle and supervise the rehab work, we will consider a “joint venture” deal. The basic difference of a joint venture is we do not go partners in the property with you. We purchase the property in our name only. This is a much cleaner and safer way for us to enter into these type deals because usually we are responsible for all the funding of the purchase and rehab work along with maintaining the property costs until it’s sold. But we will give you a joint venture agreement on how the profits are arrived and how the profits are to be split. Basically, we’re the financial part and you are the working part. Together, we get the deal done and we both make money!
HOW MUCH DO YOU PAY FOR LEADS?
This depends on the lead. We always use our formula to tell us what we can pay for each property we purchase. Our formula also gives us an approximation of what we will have left over to pay finder fees. Usually it is substantially and pleasantly higher than the finder expected.
DO YOU ONLY WANT REHAB LEADS?
NO. Some of the best leads, and FAST CASH FOR YOU, come from leads on houses being foreclosed. Let us know about these leads and if we can successfully purchase the property, we can offer you a percentage of our profits!
FORECLOSURES OR PRE-FORECLOSURES? Foreclosures are when the bank or lender already foreclosed on the property and owns it outright. These leads are usually found through a real estate broker.
Pre-Foreclosures are when the owners have received notice from the lender and must either pay the loan or sell the property. We can get them extentions while we work on purchasing the house from them and paying off the bank or lender. These leads are found many ways such as through newspaper notices or public lists located in each county court house or sheriff department.
We Want Your Leads! And when we accept and purchase a deal, we will pay substantially higher finder fees than anyone else!
If the deal makes sense for us, we will make it worth while for you!