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yes, you are wasting your time with these people! sorry, but better to learn quickly, and cut your losses. They may lose earnest money for lying on the contract and failing to close.
Anyone who has taken a "get rich quick" class is dangerous. Run for your life.
Rob, reminds of me last week with Tasha..
haha. Yea, that Tasha was calling herself a "Professional Real Estate Investor" after taking a course from one of those "Get Rich Real Estate scheme" courses.
Don't waste your time dealing with those idiots.
Thank you guys for your input. I'm learning how to screen them out now so I won't be wasting my time. Thanks.
I had a customer who was selling his home and buying a bigger one. I got a call from a potential buyer. He had found me as the lender in public records, and wanted to negotiate a short sale on behalf of seller, without seller knowledge!! He told me if I didn't modify mortgage I might not get anything. This was a seller with about 50% equity and great credit. Seller threatened to sue, and sleazy buyer went away.
Apparently that's what they buyers in the course. Cut them loose.
You can avoid these problems if you work with a broker or lender that will not only prescreen these prospects for you, but also have them preapproved - after they provide income and asset information, and a look at their credit.
Do yourself a favor and either get all your prospective clients preapproved before you take them out, or as early in the process as possible. You should only work with qualified prospects, or as you found, you risk wasting your time.
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Working with "Real Estate Riches" clients...HELP!
Vanessa Boone, "vboone"
Real Estate Agent
View my 3 listings
Contributions: 17
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I was wondering if any agents are working with investors that came from these "Real Estate Riches" Courses. They come in and claim that they have cash, have proof of funds, and a BFI statement saying that they have the cash to find out that they will be using hard money or need to move the settlement date two weeks or a month back because their money is tied up with another deal. Or they try to get rich in assigning contract for being a wholesale dealer. Is this what they teach in these classes? Do they explain the legality of a real estate contract? When I explain that they will be in breach of contract if they don't settle on the settlement date, they act like they don't understand. I'm wondering if any other agent deals with investors in these Real Estate Riches course and if their experiences with them are the same. Am I wasting my time with these people? In case you are wondering, yes I am a rookie. Thank you for your input.
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