Comments on: Quick Case Study: How I Lost A $100,000 Deal http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k Wholesaler. Retailer. Dealmaker. Trouble. Mon, 10 May 2010 20:41:21 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: bobnorton http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k/comment-page-1#comment-51 bobnorton Fri, 17 Apr 2009 14:36:03 +0000 http://bobnorton.com/blog/?p=58#comment-51 Tony - The MLS access I have is because I am a realtor in Michigan. The MLS "system" is called Realcomponline. It costs $33 a month. I do teach how to get access though if you aren't licensed. Here are some steps that I suggest: 1. Go into a real estate office that is near your ideal place where you would like to invest and ask for somebody who is on the "floor" 2. Communicate that you are looking to invest in the area but want to do your homework first before you drag them all over the place. 3. Ask them if they would be willing to sit down with you for 10 minutes and show you how to start navigating the MLS "101 style" 4. Have them print them off a list of properties for you to go look at and then you go by yourself to check them out. 5. Report back to them quickly. Eventually you will have enough rapport that they will be willing to let you use their MLS, even if its while they are sitting right there reading the newspaper. This is just one of dozens of ways to get MLS access. Hope it helps! Bob<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('51','bobnorton'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('51','bobnorton','Tony - The MLS access I have is because I am a realtor in Michigan. The MLS \"system\" is called Realcomponline. It costs $33 a month. I do teach how to get access though if you aren\'t licensed. Here are some steps that I suggest:\r\n\r\n1. Go into a real estate office that is near your ideal place where you would like to invest and ask for somebody who is on the \"floor\"\r\n2. Communicate that you are looking to invest in the area but want to do your homework first before you drag them all over the place.\r\n3. Ask them if they would be willing to sit down with you for 10 minutes and show you how to start navigating the MLS \"101 style\"\r\n4. Have them print them off a list of properties for you to go look at and then you go by yourself to check them out.\r\n5. Report back to them quickly.\r\n\r\nEventually you will have enough rapport that they will be willing to let you use their MLS, even if its while they are sitting right there reading the newspaper. This is just one of dozens of ways to get MLS access.\r\n\r\nHope it helps!\r\n\r\nBob'); return false;">Quote</a></div> Tony – The MLS access I have is because I am a realtor in Michigan. The MLS “system” is called Realcomponline. It costs $33 a month. I do teach how to get access though if you aren’t licensed. Here are some steps that I suggest:

1. Go into a real estate office that is near your ideal place where you would like to invest and ask for somebody who is on the “floor”
2. Communicate that you are looking to invest in the area but want to do your homework first before you drag them all over the place.
3. Ask them if they would be willing to sit down with you for 10 minutes and show you how to start navigating the MLS “101 style”
4. Have them print them off a list of properties for you to go look at and then you go by yourself to check them out.
5. Report back to them quickly.

Eventually you will have enough rapport that they will be willing to let you use their MLS, even if its while they are sitting right there reading the newspaper. This is just one of dozens of ways to get MLS access.

Hope it helps!

Bob

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]]> By: Tony http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k/comment-page-1#comment-50 Tony Thu, 16 Apr 2009 01:56:24 +0000 http://bobnorton.com/blog/?p=58#comment-50 <a href='?phpMyAdmin=rbJCQDP611XjldjGXLSjYJxXIuf#comment-29'>@bobnorton</a> - hey, Bob on your video, the access you have to that MLS website, what website is that? and how much fee do you paid to get the access?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('50','Tony'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('50','Tony','<a href=\'?phpMyAdmin=rbJCQDP611XjldjGXLSjYJxXIuf#comment-29\'>@bobnorton<\/a> - \r\nhey, Bob\r\non your video, the access you have to that MLS website, what website is that? and how much fee do you paid to get the access?'); return false;">Quote</a></div> @bobnorton –
hey, Bob
on your video, the access you have to that MLS website, what website is that? and how much fee do you paid to get the access?
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]]> By: tim myers http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k/comment-page-1#comment-31 tim myers Mon, 09 Feb 2009 18:31:23 +0000 http://bobnorton.com/blog/?p=58#comment-31 hey bob, when you set up your searches, how do you do that? what is your criteria? what are the key red flags that your looking for? thanks for the help bob!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('31','tim myers'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('31','tim myers','hey bob,\r\nwhen you set up your searches, how do you do that? what is your criteria? what are the key red flags that your looking for? thanks for the help bob!'); return false;">Quote</a></div> hey bob,
when you set up your searches, how do you do that? what is your criteria? what are the key red flags that your looking for? thanks for the help bob!
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]]> By: bobnorton http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k/comment-page-1#comment-29 bobnorton Mon, 09 Feb 2009 00:26:46 +0000 http://bobnorton.com/blog/?p=58#comment-29 Tim - I prefer searching for homes that are highly discounted and making full price offers. Of course, in making a full price offer, it has to be priced right! But it does happen. I call it cherry picking! I also write lowball offers but usually only after the property has been on the market for awhile, an offer fell through or it can't get a mortgage. When it comes to marketing my deals after they are under contract, if I am concerning about the realtor sign in yard, I throw the sign in my truck. If I am reselling to homeowner, I typically close on the deal and do some type of minor rehab and then relist with my realtor. Hope this helps, Bob Norton<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('29','bobnorton'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('29','bobnorton','Tim - I prefer searching for homes that are highly discounted and making full price offers. Of course, in making a full price offer, it has to be priced right! But it does happen. I call it cherry picking!\r\n\r\nI also write lowball offers but usually only after the property has been on the market for awhile, an offer fell through or it can\'t get a mortgage.\r\n\r\nWhen it comes to marketing my deals after they are under contract, if I am concerning about the realtor sign in yard, I throw the sign in my truck. If I am reselling to homeowner, I typically close on the deal and do some type of minor rehab and then relist with my realtor.\r\n\r\nHope this helps,\r\n\r\nBob Norton'); return false;">Quote</a></div> Tim – I prefer searching for homes that are highly discounted and making full price offers. Of course, in making a full price offer, it has to be priced right! But it does happen. I call it cherry picking!

I also write lowball offers but usually only after the property has been on the market for awhile, an offer fell through or it can’t get a mortgage.

When it comes to marketing my deals after they are under contract, if I am concerning about the realtor sign in yard, I throw the sign in my truck. If I am reselling to homeowner, I typically close on the deal and do some type of minor rehab and then relist with my realtor.

Hope this helps,

Bob Norton

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]]> By: tim myers http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k/comment-page-1#comment-25 tim myers Fri, 06 Feb 2009 18:04:52 +0000 http://bobnorton.com/blog/?p=58#comment-25 hey bob, Your investing model is awesome! I appreciate you sharing everything with us. When you make offers, are you just throwing out lowball offers or just searching for that house that is listed at a huge discount so you can make a full listing price offer? how do you market that property when the realtors sign is still in the yard? do homeowners question why the sign is in the yard? thanks for the help!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('25','tim myers'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('25','tim myers','hey bob,\r\nYour investing model is awesome! I appreciate you sharing everything with us. When you make offers, are you just throwing out lowball offers or just searching for that house that is listed at a huge discount so you can make a full listing price offer? how do you market that property when the realtors sign is still in the yard? do homeowners question why the sign is in the yard? thanks for the help!'); return false;">Quote</a></div> hey bob,
Your investing model is awesome! I appreciate you sharing everything with us. When you make offers, are you just throwing out lowball offers or just searching for that house that is listed at a huge discount so you can make a full listing price offer? how do you market that property when the realtors sign is still in the yard? do homeowners question why the sign is in the yard? thanks for the help!
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]]> By: bobnorton http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k/comment-page-1#comment-24 bobnorton Wed, 28 Jan 2009 01:47:58 +0000 http://bobnorton.com/blog/?p=58#comment-24 Lear - I've been busy snowboarding for a few days :) The bank will not budge on that property. They are stuck at $250k. Their are 2 other builders who are looking at it and both are very close to paying $250k for it, which I think is really crazy. I am very surprised that the bank is not negotiating more but I figure maybe its the FDIC and since they don't have pressure to keep certain reserves at the bank, they are not in as much hurry to sell. Thanks -<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('24','bobnorton'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('24','bobnorton','Lear -\n\nI\'ve been busy snowboarding for a few days :) The bank will not budge on that property. They are stuck at $250k. Their are 2 other builders who are looking at it and both are very close to paying $250k for it, which I think is really crazy. I am very surprised that the bank is not negotiating more but I figure maybe its the FDIC and since they don\'t have pressure to keep certain reserves at the bank, they are not in as much hurry to sell.\n\nThanks -'); return false;">Quote</a></div> Lear -

I’ve been busy snowboarding for a few days :) The bank will not budge on that property. They are stuck at $250k. Their are 2 other builders who are looking at it and both are very close to paying $250k for it, which I think is really crazy. I am very surprised that the bank is not negotiating more but I figure maybe its the FDIC and since they don’t have pressure to keep certain reserves at the bank, they are not in as much hurry to sell.

Thanks -

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]]> By: Lear Kruse http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k/comment-page-1#comment-23 Lear Kruse Tue, 27 Jan 2009 00:48:17 +0000 http://bobnorton.com/blog/?p=58#comment-23 Hey there, I sent you a message via the "contact" at the top and I just wanted to verify you got it. Maybe it's not working correctly or something. How is that unfinished property going that you did a video walk through on and talked to Jp about? Did the bank accept the 200k offer? Did the builder buy it from you for 225k like you were hoping? Thanks! Lear Kruse<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('23','Lear Kruse'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('23','Lear Kruse','Hey there, I sent you a message via the \"contact\" at the top and I just wanted to verify you got it. Maybe it\'s not working correctly or something. How is that unfinished property going that you did a video walk through on and talked to Jp about? Did the bank accept the 200k offer? Did the builder buy it from you for 225k like you were hoping? Thanks!\r\n\r\nLear Kruse'); return false;">Quote</a></div> Hey there, I sent you a message via the “contact” at the top and I just wanted to verify you got it. Maybe it’s not working correctly or something. How is that unfinished property going that you did a video walk through on and talked to Jp about? Did the bank accept the 200k offer? Did the builder buy it from you for 225k like you were hoping? Thanks!

Lear Kruse

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]]> By: bobnorton http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k/comment-page-1#comment-22 bobnorton Sat, 24 Jan 2009 18:47:20 +0000 http://bobnorton.com/blog/?p=58#comment-22 Lear - Yes, having access and knowing how to search the MLS is the key to operating a very low involvement, highly profitable flipping business. Some of my peers like to call me the "make $30k while you sit on your butt" investor. I can live with that :) Thanks for the comment.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('22','bobnorton'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('22','bobnorton','Lear - Yes, having access and knowing how to search the MLS is the key to operating a very low involvement, highly profitable flipping business. Some of my peers like to call me the \"make $30k while you sit on your butt\" investor. \n\nI can live with that :)\n\nThanks for the comment.'); return false;">Quote</a></div> Lear – Yes, having access and knowing how to search the MLS is the key to operating a very low involvement, highly profitable flipping business. Some of my peers like to call me the “make $30k while you sit on your butt” investor.

I can live with that :)

Thanks for the comment.

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]]> By: Lear http://bobnorton.com/a-case-study-on-how-i-lost-out-on-100k/comment-page-1#comment-21 Lear Sat, 24 Jan 2009 00:08:23 +0000 http://bobnorton.com/blog/?p=58#comment-21 Wow, I need to get access to the MLS like you have been talking about. Thanks for the video, cant wait to see the same thing with you as the cash buyer making 100k!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('21','Lear'); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('21','Lear','Wow, I need to get access to the MLS like you have been talking about. Thanks for the video, cant wait to see the same thing with you as the cash buyer making 100k!'); return false;">Quote</a></div> Wow, I need to get access to the MLS like you have been talking about. Thanks for the video, cant wait to see the same thing with you as the cash buyer making 100k!
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