hello and welcome so you're trying to buy a house you have the money you have the down payment
you have good credit right you even have the pre-approval letter you're pre-approved for
the entire amount and then some you put your offer in play and guess what happens
you're rejected you're done your offer is not accepted right what happened here what happened
here folks why is this happening because there's some other fool who wants to overbid
you and is willing to pay 30 40 50 whatever it takes to get that house because they have fomo
because they're not smart but you are smart and your agent is not able to explain to you what's
really going on they give you a wishy-washy story and you keep putting in these offers
but the offers keep getting rejected over and over and over again it's frustrating folks
and i've been there today i'm going to help you guys out give you an investor's perspective
because investors are different folks investors oversee the umbrella of everything that happens
from realtor to broker to the real estate agent to the title agency we have purview to all that
we have many realtors working with us this is not your usual economy we have a 40-year
high inflation ever in the past four decades that you have ever seen gas prices are over
five dollars a gallon demand is super high and supply is short because builders are catching
up but they're far behind you're in a seller's market i've been saying this for a long time
they're the chooser they get to choose who they give their property to and the sellers know that
so please understand your position because if you understand your position you can win the battle
you have a chance to win the battle so in this video today i'm going to provide you with some
insights that will help you succeed in your offer and hopefully your offer will get accepted
okay because i've been there done that quite a few times i'm not just speaking from research i'm
speaking from experience i have all these bruises okay of rejections all over me believe me i've
been there more than you can think it doesn't look like i've been rejected too many times but i have
okay let's just leave it at that we're not gonna go any further so if you're here for that reason
stick around to learn more so here are some tips that will make your life easy and not only that
i will tell you some stories and scenarios that i personally have come across that will also
help you understand how the game is played folks this is the game and if you want to win you have
to play the game before you even get started with anything and go look for houses you need to first
pick the right real estate agent folks that's important you want the captain of your ship to
be a trustworthy person your trusted advisor who can give you the right advice and how you find
this agent there's a whole video that i've done before look for the first time homebuyer video and
there's a lot of videos out there how to pick the right agent just don't watch a video that's done
by a realtor himself okay don't do that but find the good agent someone you can trust someone who's
been there someone who knows the neighborhood right neighbor is important we're not shopping
in 90210 area code right we're shopping in two two zero three zero area code for example so they need
to know that zip code have they sold any houses in that zip code have they sold the kind of house
that you wanted on and on and on so anyway start with that that's tip number one folks start with
a good solid realtor who has good reputation who's realistic is not bsing you who's hungry who wants
to get things done and who wants your business you know in this day and age realtors there's too many
realtors there's more realtors than houses so you should be able to find a good realtor
okay if you don't drop me a line at askakhow gmail.com i'll find you one okay how about that
number two obvious one have a strong portfolio folks what do i mean by that
you know have a good profile in terms of your credit your pre-approval letter okay your assets
if you don't have much money okay um you know you're not putting down too much that's fine
but you may have some assets have some jewelry some cars some land whatever
that may be you know list out your assets in your application so you can get approved okay
so have the pre-approval letter have a good credit okay you don't have good credit you might want to
take a step back and improve your credit okay that's important credit you know is a factor
okay so have a good portfolio so your offer looks solidified and a robust offer because
if you want to give your house you're the seller you want to give your house to somebody who has
a robust strong portfolio so you want to be that person so it's your job to figure out how can you
have a strong portfolio how can your case your business case to buy the house looks strong okay
now one element that i don't see any youtuber talking about is the fist boys folks you want
to buy a house these days a lot of homeowners are selling houses a lot of homeowners selling houses
they're called fsboards as an fsbo so go look for those a lot of a lot of sellers don't want
to deal with you know shady realtors and so on so forth not to say everybody's shady but you
know a lot of them are shady and uh i'll play a funny clip from uh ken mcelroy talks about what
he thinks of realtors so it's not me saying it is him saying it okay you don't need anybody no no
realtors are generally idiots i'm telling you it's just the truth you know they're they're working
for tips and they just get listings here's the clip by the way you know look for fsbos look for
people who are for sale by owners you know you have to drive around and and ask some people if
anybody's selling a house here in the neighborhood of your choice right and then you may find some
people you'll be surprised you know and i used to go and jog around in a neighborhood long time
ago and i found a house and i saw this house with grass all grown right and the mailbox was stuffed
with mail and i could tell somebody's not been here in a while so i called the county and find
out that this person was in default i long story short i got in touch with her daughter daughter
talked to the mother she was sick somewhere in a different state sold the house to me for thirty
thousand dollars less price the market value so look for those opportunities you know be creative
you're not gonna just find a house where everybody is if everybody gets up nine in
the morning and hits the rush hour you're gonna be stuck in traffic don't be in that rush hour don't
go where everybody's going go where nobody's going and you have a better chance of winning
another one that's a trend these days is writing a letter to the seller
and those ladder people put a realistic story they paint a picture a dramatic picture
as if you know i'm i love this neighborhood i have kids who want to go to school here i have friends
my kids have friends here i've lived here when i was a child and vice versa and you can make
up a story that you like but sometimes sellers read those letters and you want to be the person
giving them the letter and and going above and beyond explaining why you think you're the best
person for this house so you want to go above beyond money and all those things to show them
who you are how you contribute to the community you know how why would you be a better fit for
this neighborhood so you want to present your case like that and the latter works sometimes you know
because not everybody is motivated by money but most sellers in this market are looking for for
cheating folks they just want some money you can't blame them it's their time to make their money
another option another option is escalating clause escalating clause fancy language for
just putting a clause in your contract and letting them know that look you know we
are willing to go up to this price and beat anybody by a few thousand dollars
sometimes sellers like that why because they're like oh this person is going to
beat any offer by a few thousand dollars so maybe i want to go with this one right
also you can put some extra earnest money deposit right but think about it right if you were them
and somebody gives you a ten thousand dollar check versus a thirty thousand dollar check
who do you think is the strongest buyer even if the prices they're bidding are the same i would
take the thirty thousand dollar because they're willing to put their thirty thousand dollar
money on the line to buy my house this person is strong they got cash especially if everything else
checks out right so use earnest money as to your advantage why don't you have to worry about it
like show them your cards right up front because you don't have time you don't get two three four
five chances you don't want to play the game of back and forth back and forth in this market i'm
telling you this folks you don't want to play that game because you will lose i've tried that before
another way to charm the seller is to tell them look you know if you don't have a house
you know and if you want to live in the house for and rent back from us for a month or two months
we're happy to do that you know for free at no cost because your next month's payment is not
due till a couple of months so offer them your letter okay put that in there as a headline okay
we're flexible we can escalate money we can beat other offers by a few thousand
and oh by the way you can rent the house back from us if you need time to
move and if you need help with moving we can help you with moving too maybe you want to pay
them for their moving expenses again you're charming the seller you know going above and
beyond right you want to go above and beyond charm the seller try to sell them something
now a lot of people are throwing in cash offers if you do have the cash you know offer cash they
don't know the difference in cash versus you know money comes from the bank but the idea is like
cash offer means like you have money available you know there's some companies that can convert
your loan into cash or at least have money in the bank ready for you to execute people like
that people like having funds in the bank seeing the bank statements okay the cash is available
and also along with that it's not just about cash but closing quickly speed is the name of the game
folks these days okay if you can close quickly and give a thirty thousand dollar response deposit
check and you can close in a week i'll go with you i'll take my chances with you what if somebody's
giving me a 10 000 earnest money deposit think about it right and they have to close in 45 days
who wants to wait for 45 days who knows where the market's going to be in 45 days why should i wait
next up is asking your agent to be proactive and asking the seller what is their motivation to sell
are they motivated by just money by making you know two three or four thousand dollars profit
is their motivation finding the right fit for the community uh is there motivation somebody
is flexible can rent them back the house what is their motivation that's very important folks
so you have to find that motivation because that can give you a leverage okay and again
last but not least speed is the name of the game chop chop do it now tell your realtor call them
every day twice a day if you have to don't sit on the offer okay and sometimes folks i've also
seen as a true story with me sometimes you're gonna put an offer 20 30 000 above the asking
price to begin with okay and but you want to put a timeline on it you want to say the offer stands
till the end of the weekend make up your mind so i was offered a lot of money for one of my
properties and one of the buyers said to me i'm giving you 50 grand over asking price aka i wasn't
even expecting that but the offer is good till friday well i was like wow this guy's serious
and a 30 000 check right so the check and the offer and it's ready to close
guess who i went with i had other offers as well but they weren't starting with that 30 000
above they weren't starting with that they were trying to play that game with me you know give
me like you know 650 then 660 then 670. you can't do that in this market folks you can't play that
game there's no back and forth there's in or out okay that's where you're getting rejected because
you're playing that game your realtor thinks they're too smart to playing that game right
forget about all those games show your cards up front make a deal and move on okay even if you pay
20 30 40 000 extra who cares man you can make it up you know it's not i mean people get so
hung up on this rage thing right oh my god the rates are gonna increase so freaking one
so what people used to pay six percent nobody complain so why you complaining at
four percent now you know so please don't complain complaining is for losers okay you're not a loser
you're my subscriber so don't complain execute the tips i'm telling you and you'll come out on top
another one another one is to give incentives whatever incentives you
can like maybe pay for closing costs a lot of sellers are not paying closing costs
it's not unusual you can pick up at least half the tab or full tab of closing costs so what if
it's five ten thousand dollars extra from your pocket no big deal you get the house you'll get
equity your house will keep going up at least for the next year or two you'll make it up okay
so don't worry about all that don't worry about the small stuff don't be penny wise and pound
foolish is what they say in uk right so there you have it folks don't be pennywise and pound foolish
right you wanna be ahead of the game you wanna win the game at the first draw okay
now the last one which i'm not a fan of folks but a lot of people do this is they wave the
inspection this is a bit dangerous to come and bite you back uh because if there's some
structural issues with the with the house some foundation issues and i've seen that you know i
bought a property like that but if you're brave enough and a risk taker like myself that may be
your last resort folks you know with an inspection of the house because people if they have problems
in the house and they know there's problems in the house okay then they might prefer you as a buyer
because they don't want to go through inspection and then find all these things out and the
closing falls apart and this and that they don't want to do that right
but you have to play that game carefully folks it's a risk you want to take i don't recommend it
if you're not a seasoned person like myself i bought a house let me tell you a story in
maryland long time ago okay this house had every problem you can imagine okay
there were pipes broken in the basement in the crawl space and one day the pipe just burst and
i had to rush from you know you know virginia to maryland to go take care of that um you know the
water came on the street and all kinds of stuff and then one time you know the lights went out
and circuit breaker broke anyway this house had all kinds of problems but i'll tell you this
i got the house because i waived the inspection and the appraisal i said i don't care it was
a nice gentleman jack old guy living in that property and i said no i just won the property
and my offer wasn't the highest offer but he took it because he was concerned this is the
old house has issues he didn't want to deal with all that he was an old man he just sold it to me
once i fixed that property it took me like four months folks i had all kinds of problems okay
rats bugs issues i got all that cleaned up it didn't cost me a lot of money maybe like five
grand or so everything was fixed since then that property has been giving me 20 return
year after year so think about that so look at the long picture folks look at the long picture
don't just look at 510 grand here and there right now look at the bigger picture where is this going
do you see yourself living in this house for 10 20 30 years your kids growing up and so on and
so forth okay one other knowledge bomb i would drop you if you don't like the realtor fire them
fire them immediately don't give them a second third chance if you're not happy if you have the
instinct in your heart that this realtor is not looking in my best interest because some realtors
okay not all some realtors they have deals with other ones okay jack knows jill jill knows jen and
so on so forth they make a deal they may send it to someone else not to your realtor and vice versa
so you want to be very cautious and judicious okay and picking a realtor because that's the
name of the game okay and if you're not happy find the realtor if you have to you know be like
donald trump you know maybe fire a few people you might find the right person who can work with you
i find that very funny folks because i see donald firing everybody in his in his team multiple times
anyway we make fun of donald but we like him too so my point is this guys that you know you are the
only person looking for your best interest right nobody else is looking for your best interest
so if you want to succeed you need to take the reins of house hunting in your own hands
you need to go knock on the doors you need to go find that physical house okay you need to
find homeowners or selling you to like put many baby signs in the community somewhere
you know at your mosque or at your you know church and and talk to people you know go
above and beyond don't just run on a realtor folks and if you do that i promise you you will find a
house also be flexible folks beggars can always be choosers don't pick the biggest brightest house in
the neighborhood okay and maybe be flexible about the neighborhood also okay people are living in
carolina people are living not everybody lives in new york city okay or not everybody lives in the
heart of the city okay be a little bit flexible okay because these are tough times there's no
inventory i hope i was helpful i want to thank you guys again for over 5000 subscribers ooh it's
a big number and i'm very happy i do want to also drop my email down here you're welcome to email me
folks i'm happy to help you answer your questions but my time is worth something so i can't do
it all for free folks so if you guys need my advice consistent advice or look at your case
and analysis and paralysis whatever you want me to do you know you're gonna have to like you know pay
me something for my time and we can work something out if that's the case okay so i hate to say this
but i've been getting a lot of emails wonderful people wonderful email wonderful questions
but if i just do that all day long believe me i'll be here for all day long i won't make any
money from my own business so i'm humbled by all your interests and your questions i'm glad
you're finding answers helpful it's like over 20 000 or so community of people who i engage with
i can't keep up with all of those people it's just me i edit the videos i make the videos i
set up the lights everything is me folks so if you want my consulting services i'd be happy
to help you but at a cost if you have a one-off question by all means i'm happy to answer if you
want to look up a neighborhood i love doing this i can do that too i can make it part of my video
anyway with that i want to end the video i want to tell you guys again one last time take the
reins of house hunting in your hands you are the boss okay as i say that you're the boss okay
work on your credit you know solidify your portfolio you'll come out on top folks so
i wish you the best of luck until my next video i love you all and have a fantastic day bye now