The real estate market is highly competitive, and if you want to succeed, it is important to understand how to make your offers stand out from the rest. What can you do to boost the frequency of you getting your foot in the door for multiple deals?

In this episode of Raising Private Money, I let you in on the three ways to blow your competition out of the water that I’ve learned over the years: offering all cash, providing a fast closing, and making a clean offer. Tune in!

Key Takeaways:

• Three ways to get more of your offers accepted: #1 offer cash, #2 offers fast closing, and #3 make your offer as clean as possible.
• The majority of off-market owners will not sell on terms and prefer cash offers.
• Using private money can help you get more offers accepted by helping you come up with enough cash for cash offers.
• Having an amazing relationship with the real estate attorney to do the title search can help you offer a fast closing.
• Unique selling point strategies, such as offering for the seller to stay in the property rent-free, can make your offer stand out.
• Removing contingencies and appraisals can make your offer more attractive to the seller.
• Use comparative market analysis to accurately determine the value of a home.

Check out my book: 7 Reasons Why Private Money Will Skyrocket Your Real Estate Business and Help You Build Incredible Wealth!

Get it here for FREE: www.jayconner.com/moneyguide

Timestamps:

0:01 – Raising Private Money with Jay Conner

0:33 – How Do You Get More Offers Accepted?

0:55 – Offer All Cash

3:14 – Jay’s Free Money Guide: https://www.JayConner.com/MoneyGuide

4:55 – Offer A Fast Closing

7:20 – How To Close Your Real Estate Deals In 7 Days

9:45 – Make Your Offer As Absolutely Clean As Possible

12:13 – Important Details You Need To Write In Your Offer

13:30 – Join Jay’s Private Money Academy Conference: https://www.JaysLiveEvent.com

Top 3 ‘Closing Deals Fast’ Strategies – Real Estate Investing Minus the Bank

 

Narrator (00:01):

If you are a real estate investor and are wondering how to raise and leverage private money to make more profit on every deal then you are in the right place on raising private money, we’ll speak with new end seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money because the money comes first. Now, here’s your host, Jay Connor.

Jay Conner (00:30):

Well, hello and welcome to another episode and today’s topic, I’m going to answer the question, Hal, do you get more offers accepted? Let me get right onto answering the question. How do you get more real estate offers accepted even when your offer is less than your competition’s? Well, three ways. The number one way to get more of your offers accepted is to offer all cash. Now, here’s what my experience has been, and I’m gonna show you in just a second how you can have more cash available at your fingertips. here’s what I’ve discovered over the years, folks, and that is even when I’m talking and my team is talking with off-market houses, what we mean by that is properties that are not in the multiple listing service, when we negotiate with those people, obviously we’re going to first try to buy those properties on what we call terms.

Jay Conner (01:35):

We try to buy the property if it has a mortgage subject to the existing note. if it’s free and clear, we’ve tried to buy the property you know, with seller financing. But here’s what I’ve discovered all the way back to 2003. My wife and I have been full-time real estate investing here in Eastern North Carolina since 2003. Started using private money in 2009, and got 44 private lenders right now, funding our deals. But what I’ve discovered over all these years is only 17% of those for sale by owners, are off-market houses, and off-market owners, which means they’re not in the multiple listing service that will sell to me with to terms what do the other 87% require? You know the answer, right? They require all the cash. All the cash. So when you make a cash offer, you get more offers accepted. So your question is, well, Jay, how in the world do you know how, how do I have the cash to offer?

Jay Conner (02:44):

And the answer is hands down, private money. Well, if you don’t have any private lenders, I can put you on the fast track. I am the solution to that problem. If you don’t have any private lenders’ private money, having private money at your disposal, what I call money sitting on the shelf, you can make more offers, right? you’re gonna get more offers accepted. So if you do not have private money, I want to give you it right now, I, in fact, I just finished writing this just a few weeks ago, my brand New Money Guide. And this money guide is titled Seven Reasons Why Private Money Will Skyrocket Your Real Estate Business and Help You Build Incredible Wealth. This is absolutely free. You can download it when we finish Free Coaching Friday, and it will put you on the fast track to private money. In fact, Chad, if you don’t mind, since you’re watching type in the comment bar right now, the u r URL for this free money guide, is free information on getting a lot of private money very, very fast. And that URL is wwwJayConner.com/MoneyGuide. Again, that’s wwwJayConner.com/MoneyGuide.

 

Jay Conner (04:31):

I am answering the question of how to get more of your real estate offers accepted. So I just went over the first one, so I’m giving three ways. The first way is to be able to a, to be able to offer all cash offers, right? Because the majority of those off-market houses and owners will not sell to us on terms. All right? The second way to get more of your offers accepted is to be able to offer a fast closing, a fast closing. Now, most real estate investors, unless they’ve got private money at their disposal and they have to buy on terms or they have to get, a mortgage and borrow money, they’re not going to be able to close fast. Now, I will tell you this, one of the secrets of being able to close fast, oh, thank you so much. Let me see who put that up there.

Jay Conner (05:28):

 Mike, thank you Mike McDaniel for putting that in the comment bar where people can download the fast track to private money jake hunter.com/money guide. So the second way you can get more offers accepted is by offering a fast closing. Now, first of all, in order to be able to close fast, you’ve got to have an amazing relationship with your real estate attorney or whoever is doing your title searches and whoever your closing agent is that you can get on their schedule to get the deal closed. Now, if you are buying on terms, if you’re buying on terms, you can close fast. I mean, you can close fast. Now, let me tell, let me tell you what I give all of our potential sellers, FSBOs, and off-market houses. We tell ’em in our offer that we can close in seven days. That’s right, and in seven days, none of the rest of your competition and all probability is going to be able to make that offer and stand behind it.

Jay Conner (06:38):

In fact, another way that we get more offers accepted with this fast closing offer is we will say, if you’re still in the house, you can stay in the house rent-free for whatever period of time that we both agree upon. That’s a huge unique selling proposition or a unique buying proposition. I like being able to close fast within seven days, right? And give them their money. Now, there’s another secret to that. Would you, when you’re buying on terms, as I was saying, one of the big secrets to being able to close fast, I’m answering the question today, how to get more of your real estate offers accepted. I make my offers that I can close in seven days. Well, there are two ways that I can close within seven days. First of all, as I just said, we gotta have a relationship with our real estate attorney to do the title search.

Jay Conner (07:36):

I get all of my title searches done within 24 business hours, right? And as I said a moment ago, you can offer for them to stay in the house for free, rent-free for whatever period of time that you agree upon that will get more of your offers accepted. But let me share with you a very, very important point, and that is if you offer to give them their money close within seven days, then do not give them all the money. Hold a portion, hold at least a thousand or $2,000 back from what they’re gonna be getting until they are af out of the house and you’ve done a walkthrough and the entire house, you know, is all cleaned up unless you have made your offer that you’re gonna just buy it as is. If it’s inherited property, they can just leave the stuff in the house So you can close very, very quickly when you’re buying on terms, only if you have that relationship with your real estate attorney to get fast title searches and to be able to get on their schedule very, very quickly.

Jay Conner (08:46):

Now, if you’re u if you’re having to offer all cash, if you’re having to offer all cash, well, you gotta have the private money lenders lined up. And as I said, when you’re talking to FSBOs, only 13% of those off-market houses will sell to you on terms and creatively. So when you’ve got the cash and you can offer to close within seven days, absolutely you’re gonna get more offers accepted. So the number one way is to have private money, all right? The second way is to offer fast closings and allow them to stay in the property if it is occupied for the period of time that you agree upon. I will tell you, I typically do not give them more than 30 or 60 days at the most to stay in the property, all right, for free. The third way to get more of your offers accepted is, and this is a right or downer.

Jay Conner (09:47):

The third way to get more of your offers accepted is to make your offer absolutely clean as possible. What do I mean by making your offer clean? What I mean by making your offer clean is don’t have all these contingencies. In other words, you want to put in your offer, no appraisals, no appraisals, but you see when you’re using private money or you’re buying on terms, you don’t need an appraisal. None of these private lenders that I’m talking about are going to require an appraisal. So what am I going to use, for me to know exactly what the value of a house or property is? I’m going to use my realtor’s CMA, which of course stands for comparative market analysis. I get all of my CMAs from my realtor, typically within 24 business hours. Now, these CMAs are gonna tell me what the after-repaired value is, not the as-is value, but the after-repaired value.

Jay Conner (10:52):

Now, my realtor will not have to go to the property and walk around the property in order to give me the after-repaired value. The reason for that is that my realtor knows when I rehab a house, what kind of condition that house is going to be in. It’s gonna be absolutely beautiful with granite countertops or butcher block countertops. all interior paint will be new, et cetera. So my realtor knows how to give that to me. But when I’m making my offer and we’re talking about getting more offers accepted, because your offer is clean, that means hardly any contingencies at all. So I’ll say no appraisal. I’ll say as is, you know, at the quote as is, where is now, if there’s a major rehab involved, I am for sure going to get a home inspection, right? I don’t write into the offer that that’s one of the contingencies because the contract that we use actually has in the contract that we can get out of the contract if we have a home inspection and we find, you know other problems.

Jay Conner (12:01):

You know, Murphy lives in every house, so we may have to renegotiate the price, but as far as the written-in contingencies, I wanna say no appraisals. And look, I want you to write in your offer that you do not need to get approved for a loan. It’s gonna be all cash. This is an all-cash as is where is offered. And let me ask you this question, can you make your offer say in writing all cash and still get a private lender loan? And the answer is an absolute yes. So there, let’s recap. Those are at least three ways that you can get more of your real estate offers accepted and beat out your competition. Number one, be able to offer all cash offers, and you’re gonna be able to do that by having private money lined up and ready to go. The second way you’re going to get more offers accepted is, well, the third way I said was clean, right?

Jay Conner (13:06):

The second way is to be able to offer fast closings. Of my closings, I offer to be able to close within seven days. And then the third way is to make your offer absolutely clean, right? And those are three ways to get your offers accepted. So I got a question for everybody watching, whether you’re watching on the live stream or you’re watching the replay. As you know, I help real estate investors raise a lot of private money for their real estate deals. And if you need private money, then you need to get to the upcoming Private Money Academy conference. You can check it out and click on the link in the description. I’ll be there, live in person all three days, and you’ll get plugged into all the funding that you need for your real estate deals. Check out the link in the description and I’ll see you at the Private Money Academy Conference