Full-Benefits of Happy Investor!
What Makes Happy Investor So Unique, and How to Get Maximum Usage out of Happy Investor!This may scare you: Happy Compiles the Highest-Rated MLS Properties for Investing.
Upon first glance, that may not sound exciting since MLS Listings are everywhere. However, about half of all fix & flips and investment property purchases are made on the MLS.
* The MLS is an ocean of properties. It's overwhelming. Which ones are the best? How do I make an Offer? How much do I offer? etc etc.
Profiting on the MLS
* Happy Investor finds you the best properties for Flipping or Investing, unlike Zillow/Trulia/Etc which focus on typical home-buyers.
* Happy Investor allows you to make mass amounts of Rapid-Fire Offers directly from the website, which is not possible on Zillow/Trulia/Etc
* Happy Algorithms and Scanners Show you the top 3% of MLS Properties in Your Area
* It determines the top 3% by comparing a property's asking price to Tax Appraisal Value, Original Price, Comparable Sales, Realtor.com Appraisal, Core Logic
* It also looks at Days On Market and the Number of Price Reductions the Seller has made along with counting the number of potential-bargain keywords such as "make offer," "needs repairs," "cash only," "seller motivated," etc.
* Zillow, Trulia, and Realtor.com do not have much of this appraisal data, and those definitely do not run calculations to help determine the best deals for investors. Those sites do not want to appear biased towards certain properties, and it would also take hours or days to score calculations on so many homes.
Deal-Score & Auto-Generated P&L Reports
* As a member, you can sort properties from Best Deal Score to Lowest Deal Score so that you can see the properties with the most positive attributes first.
* Using the P&L Report generated by Happy Analytics, a pre-drafted e-mail and text message are created for you on the property's Details pages
* You can adjust the Content of the E-mail and send to the agent representing the seller.
* As an example, for a property with an asking price of $275,000 where the seller is motivated, it has a high deal score, and the price keeps getting reduced, the e-mail may ask the Realtor if they think their client/seller would possibly willing to come down to $225,000, for example.
* This sounds like a very low offer, but expect 1/3rd of your emails to receive a positive response with the agent telling you they might consider that.
* Personally, I forward these positive-response e-mails to my own realtor and she runs comps to see if we should pursue it further.
* On Realtor.com/Zillow/Etc. you cannot make many rapid-fire offers like this. The "Contact the Realtor" forms on those sites go into a leads-system on their end and the realtor may not even see your offer. These sites typically do not give you the agent's e-mail address, cell phone number, and definitely not a recommended offer price etc.
* I recommend making quick-offers on about 30 properties over about a 1 hour period.
* Over the next 24 Hours, you can expect to see about 10 responses saying their client might actually take that offer.
* Forward these 10 e-mails to your realtor for review.
* Your realtor will tell you the ones they think are the best deals or have the highest potential profit.
* All of this e-mail communication is non-binding and risk free, as compared to the old method of presenting sellers with Earnest Money, Option Money, and a Full Contract just to make a simple offer.
* Also remember that if any of your e-mails had too high of an offer price, you can always reply & lower your offer (based on your Realtor's advice & you doing more research).
* Also, remember that you will likely be able to lower your purchase price significantly more after you are officially under contract on a property & the property inspection report comes in. Property Inspection reports almost always reveal unexpected things and you can negotiate down even further at that point.
* If the property has been on the market for over 3 or 4 months (or longer), the seller will very likely be motivated to agree to lower the price even more after the inspection, knowing that if they cancel on the sale, they may never get another offer.
- Buyers typically think properties on the MLS are receiving lots of attention and that the sellers are getting many offers or interest. Based on our and our user's experience, the vast majority of homes for sale on the MLS are receiving no e-mail with interest, no phone calls, no showings.. no interest in general.
- Sellers are excited to receive your e-mail offer even with it being low as they have often gone weeks with no interest.
- The Realtor representing the seller of the property you are negotiating on is, in an odd way, can appear to be on your side, as they often want the seller to accept your lower offer so that a) their seller can finally move on and b) so that they can sell the house.
- When you purchase a house at a large discount, the Realtor's commission is just slightly, so it is not a financial hit to the Realtor. Realtor's are in the business of selling properties. You'll find that 90% of the time, their Realtor (who you're communicating with) is trying very hard to get their seller to accept your low offer.
- These factors contribute to why about 33% of the Realtor's have a very happy response to a very low offer. They are not "offended" by your offer since they are just the Realtor and not the owner of that home, and they want their seller to accept your low offer so they can sell a home and their seller can move on.