Hey guys, Jason here…
Continuing on with our Asset Manager Millions LIVE Q & A series, here's question #6:
"If you're dealing with an Asset Manager & you may only want to purchase one or two properties, will they take the time and send you a tape (a list of properties), or will they feel like you're too small & not want to deal with you?"
Great question!
It depends on the size of the group that you're dealing with. If you're dealing with a larger fund, they're probably only going to work with players that could come in with a $50 million POF (proof of funds) letter.
But of course every institution has different boxes to check off, but I just want you to see that it IS possible and that you DON'T have to have MILLIONS in POF to do deals with Asset Managers.
Plus, a lot of these institutions (as long as they can liquidate bad debt off of their balance sheets), are willing to work with folks that are wanting to buy one or two properties, so they'll usually let you cherry-pick the deals you want.
But when you speak with an Asset Manager don't let them know your buying power unless they ask.
And if they do ask, be honest.
If I only have $500,000, I tell them, but at the same time, I let them know I can stretch it because I have potential opportunity with my cash buyers.
You never know when an investor will pop into your life who wants to buy 25, 50, maybe even 100 properties from you a year…
...which can easily stretch that initial $500k in $3, $4, $5 million a year, so don't box yourself in with Asset Managers.
Always let them know you might be able to stretch things (because chances are you might be able to).
So if you'd like to get 5, 10, 15+ properties landing in your inbox every month, and be able to cherry-pick properties at 30%-50% discounts (working directly with Asset Managers) so you can potentially walk out of your title company with a check in your hand every month…
Even if...
- You've got ZERO to spend on marketing…
- Have only closed deals one-at-a-time…
- And distressed properties (in your market) are selling at close to FULL price!
Would you like to join me in my "Direct Deal Profits" group?
Just reply back to this email and put "DDP INFO" in the subject line and we'll get you more details.
On YOUR team,
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