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Jackie,
I listened to your audio in the Learning Annex on the highest bidder sale and was wondering:
1. I live in Orlando where the market has fallen close to 30% but for the past month has been flat – approximately 1,000 home sales for a population of over 1 million. In this type of market what is the range of percent of fair market value, I should expect to be able to realize using this method as an exit strategy in an all Cash Sale as well as a Highest Downpayment Sale.
2. How much money do you budget to market the sale? How much are you willing to spend on newspaper adds, how many post cards do you mail out, and when you place flyers on cars what businesses do you target?
3. Do you share in the commissions that the Mortgage Broker may earn from the buyers that attend your auctions even when the buyers buy another home using your Mortgage Broker to arrange the financing? What paperwork do you use to enforce the agreement. Have you earned profits by renting your buyer’s list to Real Estate Brokers? What do you charge?
4. What do you charge to put on Highest Bidder Sales for other property owners. Is this an additional business that I should consider to generate Cash Flow?
5. What other details do I need to know/consider that you did not mention in your audio or could be found in Effros’ latest book.
Thank you, Jackie for helping me gain the knowledge I need to succeed in this market and for convincing Jack to offer this great website and all you work in facilitating it.
Ken
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