Monday, November 04, 2013

Step On It: Taking Action

A few weeks ago, while discussing training packages, I had someone tell me that although money was no issues he would not make any decisions at this time since he didn't not want to make an emotional decision and he would think about it.

It is probably a good thing he didn't commit to purchasing. Since he is unable or unwilling to take action on the spot, he would probably be a terrible real estate investor.

Let me explain. The advantage I have over other potential buyers is that I can provide an offer on a property
I'm looking into within a half hour. It increases my chance to be the first offer received and accepted. If other offers comes in afterwards, it's already under contract. Also, realtors took notice of my quick trigger offers, and would start sending me pocket listing to me. It's to their advantage to try and get an offer in place before they go through all the problem of listing on MLS. I can also take action on the raw information, I don't need to wait for the pretty package.

The reason I can do this with little risk is because of the exit clauses I have in place. Those are my safety nets, my protections.

In the case of the training package; he also had is exit clause in place. The contract included a ten days right to cancel and a satisfaction guarantees.