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Author Topic: Sellers From Dark Side  (Read 13577 times)

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #15 on: May 16, 2017, 12:38:26 pm »
It's been about a week since the buyer made the offer to cut these sellers a 5K check each. My partner Bob left them txt messages and tried calling them but they were not responding. Bob said he was going to their house and to the workplace of the seller cuz he knew the mechanic shop where he worked. I told him, the more you chase the faster they will run, he said OK I'll give them some time.
A few days ago Bob emailed to say the buyer was calling and said he still hadn't heard from them crazy sellers. I told him they probably got a better offer. He says, that's what I was thinking.
So the last few days I made up my mind that the deal was out the window. I told Bob to get a Notary & record our contract.
Then, Lo & Behold, this morning, Bob emails me to say he was picking up sellers and meeting buyer & Notary this afternoon to get the sellers their 5K checks.
A few years ago I used to work myself into an emotional train wreck dealing with issues like this. Now it's just part of the game, I expect these deals to fall thru, and am surprised when they do pass go.
Bob is hinting around that he's expecting a bonus for all the extra work he's putting into this deal. Who can blame him? All I did was email the buyer to earn this 14K payday. I'll offer to give him a big wet sloppy kiss and lunch.

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #16 on: May 17, 2017, 12:16:26 pm »
My partner Bob called me last night to say he had spent almost 6 hours getting these sellers into town to meet buyer and get paperwork signed with Notary. Then had to take this couple to the bank and help them open bank accounts so they cud deposit and cash their 5K checks. This involved some driving cuz Bob lives out of town and the sellers live in a different town and the buyer lives in the city. Bob said they were whining and complaining the whole time and he even bought them lunch.
Bob again mentioned he was wanting a bonus for all this extra work. He didn't seem impressed with my offer of a sloppy kiss and lunch.
He tells me he wants me to teach him what I know. This has got me a bit confused because Bob and I have done 7 or 8 wholesale deals together and also a sub to deal. He told me he was an investor b4 but lost his shorts in the 2008 melt down.
Bob used my purchase contact. I'm thinking, what else can I do to get him to understand this simple process of wholesaling houses?
And if he does break thru this mental cloud will my meal ticket be out the window?
We have been talking about purchasing 5,000 absentee owner names together and getting serious. Bob has never done direct mail, and that's where I've got the majority of my deals.
Anyways, this deal is scheduled to close b4 the end of this month, keeping the fingers crossed.
Let's make some Money.....
Rando

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #17 on: May 19, 2017, 02:43:13 pm »
Now it's a waiting game. Things can still go horribly wrong especially with these psychotic irrational sellers,
I watched a you tube video with Phil putsioski, cant spell or pronounce his last name. He went over how he's been on the receiving end of bad wholesale deals and dealing with irrational sellers.
A topic he says is never discussed with wholesale deals.
But, I'm optimistic. I just purchased a new PS4 Slim and a Nintendo Switch and a bunch of games for my kids.
It's a great feeling to be able to afford to buy nice things for the ones I love.
Stay tuned.

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #18 on: May 25, 2017, 12:04:31 am »
It's been about a week since I heard anything, but, usually that's a good thing. My right hand has been itching. That always means money is coming. I'm getting a few calls from my bird dog mailings.

I might just kick this direct mail campaign off on my own.
It will cost more, bigger risk, but bigger profits.

I was a bit concerned because my best buyer is on the lam. The FBI came to my door asking questions about him. Mostly about did I know where he is. I had been hearing rumors. The Title girl warned me to distance myself from him. The FBI wouldn't tell me what he was doing illegally. One of his buyers called me and said he was falsifying documents. He's a young guy mid to late 20's. If he's ripping people off they will catch him. I had been to his house a few times, gorgeous spread, with pool and landscaping in a nice area. I assume his tastes were bigger than his budget.

Luckily, there are still many legit hungry buyers out there.

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #19 on: May 25, 2017, 10:55:00 pm »
We got a call from Title today asking when can we get sellers in to sign the final paperwork and also they were requesting Bob and I sign the assignment.
Bob is freaking out, he's behind on his mortgage and bills and is acting desperate. We talked on the phone today and he claims he has to again take the sellers in to sign and then again to pick up checks on closing, which is scheduled for June 1
I told Bob to let them take a taxi, they got 5K each a few days ago. Or the Title company can mail them their checks.
But Bob is acting like a mother hen.
Do I feel guilty, yea, a little. All I did was email the seller the deal, then I got the seller to put out the 10K b4 closing.
I haven't seen the house, or met he sellers, hell, I haven't even met our buyer even though this is about the 6th or 7th deal he's got from me.
I can't celebrate yet or brag about the big check expected, I've had these deals explode in my face b4, but that usually only happens when I'm dead ass broke and desperately need the money.. I've learned to stash my acorns for the dry spells.
6 more days till closing.
Bob is still talking about the direct mail opportunity, we'll see.
I do want to help him make a ton of money.

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #20 on: May 26, 2017, 01:51:03 pm »
The Title girl is emailing me and asking when is the sellers going to come in and sign. I told her Bob is coordinating that and she says OK just need them to make an appointment. I instructed her to split the $27,500 check and write out 2 separate checks for Bob and I.
So if this signing doesn't happen today or tomorrow, then Monday is a holiday so it cud delay things a few days or a week, which is expected. Only A few times have things have gone according to plan.
Now it's getting down to the wire, I assume Bob is totally freaking out, he needs this 14 Grand to stay afloat and kick the direct mail into gear. I won't lie, It would hurt to lose this deal. But luckily, it seems everybody wants it to happen, the sellers want their money, the buyer wants the deal and Bob and I want our assignment fee, now if only we can get these crazy sellers in to sign.
Bob now says the male seller couldn't cash his 5K check because his drivers license had expired. Oh the insanity!
Some back taxes are owed on the property but these people shud walk away with 50K each.
Keeping the fingers crossed.
« Last Edit: May 26, 2017, 01:56:54 pm by Randoskie »

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #21 on: May 26, 2017, 02:12:42 pm »
I just got Bob's response for a request to get sellers in to sign. It is almost comical.

UGH......called them 3 times yesterday, (texted) their not ready as husband has no id and can't cash the check, their going to split up, fighting like cats and dogs I've seen a few times already. Currently have smoothed things over, he has applied to DMV for id and in process but most likely 3 weeks out anyway. .....yeah.....UGH!! I asked to picked them up and he can use old id, but she can't leave him high an dry is my thought. I haven't heard from them this morning, already sent them a texted with possible hey lets' try even with old id...so it appears were on HOLD....I'll let everyone know 
I've begged them weeks ago to try an get an id somehow some way.....

Bob

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #22 on: June 14, 2017, 11:38:56 pm »
It's been over a week with no word. I sent Bob an email telling him about the skip trace service I bought and the probate course.
He comes back with another  story from the dark side. Bob is in constant contact with these sellers on a daily basis.
He went on about how blankity blank frustrating it was.

Bob is just being too nice and accommodating with taking them places and holding their teething ring. Now he says he's helping them buy another place with the buyers help. Oh hurt me... Bob needs to be beat with a testosterone stick.
I wuda prob tossed this deal b4 I went full retard.

Will Bob emerge with his dignity intact? Will he finally be able to pay his mortgage and bills and jump into a direct mail campaign with Rando? Will the deal ever close?

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #23 on: June 28, 2017, 12:50:06 pm »
Another week had gone by. My buddy Bob calls last night, he actually picked up sellers and took them to the signing.
It shud have been a simple thing, but oh no, not with these sellers. On the big day, Bob wakes early, he's actually optimistic.
His optimism fades quickly.
Bob was frantic, he arrives at sellers home and Mr. seller is not there. Bob and Mrs seller go to his workplace. They get him in the car and headed to the big City for the meetup and get this thing put to bed.
But wait, they had to go back to the house to get Mr sellers ID.
We are rolling now, Bob calls Title and tells them they will be an hour late.
 I feel guilty, I'm home sleeping in, lounging in my pool and gardening.
Now this is where Bob almost loses it.
After arriving and having the paper work to sign in front of them, Mrs Seller says "why does it say selling price is $107,500?"
I thought it was 110?  Bob said she was getting loud and not listening. She gets up and storms out of the building, not to be found. Bob was apologetic to the title girl. Can a deal he's worked on this long and hard be out the window just like that?
The husband had already went after the wife.
after a half hour Bob went looking for them, he then goes to get a burger and is seriously thinking about driving back in defeat and with out these blank blank  sellers from hell, in his car.
Finally somehow, they all get back into the office. Mrs seller was now asking, why does it say here that are we only getting $97,500?
Because Mrs seller, you have already accepted 10 Grand, remember?
And what about this, why are you holding $3,000 out? Because, buyer wants to give u incentive to be out in the 30 days as we all agreed. Remember we went over all this 3 million times. Yes you will get that. But Bob, you said we wud get 50 grand each? Yes Mrs seller, with the money you get today, and the advanced money already received and the 3K you get in 30 days it is well over 50K each.
Poor Bob, he went on and on about the countless emails and the whining and bickering between these 2, I think he was emotional traumatized by these 2 miserable unhappy sellers. This deal has dragged on for 2 frikin months.
Bob tells me we got checks this coming Friday. for $13,750 Frikin dollars each. Really? I'll have to keep my promise to dance naked on a full moon with live bull frogs.
Bob deserves a medal for the courage and dedication to the call of the wild. But he asked for an extra grand in battle pay.
I'm thinking, is there anything else that can go wrong with this happy ending?
Let's make some Money
Rando


Offline javipa

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Re: Sellers From Dark Side
« Reply #24 on: June 28, 2017, 02:09:41 pm »
I have never had that level of patience.  I'm sure I've missed opportunities.

In my experience however, sellers who acted like this, were the ones that weren't forced to work to close on the deal at the beginning of the negotiations.   Things came too easy.  The solution, too simple.  As a result, the seller never had confidence that he had gotten everything he could.  This lack of confidence just begs for renegotiations and second-guessing of everyone's intentions.

I was this way as a buyer on the first deal I ever did.  It came so easy, that I second-guessed it every step of the way, and I frustrated the seller and his agent with new requests and concessions, until they wanted to shoot me.

In fact, the seller came to closing with a check for a $1,000 just to shut me up, and get me to sign.

His agent refused to let that happen, and I had finally worked hard enough for the deal, that I knew I was getting all I was supposed to get. 

Sometimes, the seller doesn't need to be worked over much more.  They've been through a couple of failed escrows, creditors are crawling down their backs, they're getting certified collection notices, and the whole shebang.  So, by the time I show up with an offer, it's not an overly complicated matter of getting a closing.  That doesn't mean the seller shouldn't be made to work to close the deal. 

It's amazing how even the most motivated sellers can get stupid, right after we relieve their pressure.  All of the sudden, they imagine they had options. 

To stop that, we load the front porch of our offer with demands, and force the seller to work to either meet those demands or make concessions, in order to feel good about giving up most of his equity. 

Just some thoughts.

*** It seems everyone wants to make, and receive, clean, easy deals, but unless both parties are forced to work for the deal, it's likely not going to close, regardless of how clean, and easy.  And that's why I believe that 'dirtying up' an offer is more profitable, and efficient way ensure a smooth closing.

FWIW
"149 Ways (Plus One) To Find Motivated Sellers..!"  -Free Report-
>>> Click: http://sub2marketdomination.com/how-to-find-motivated-sellers-2/

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #25 on: June 29, 2017, 12:17:25 pm »
Javipa, define dirtying up an offer. is that making unreasonable buyer demands that can easily be trashed so as to seem we are giving up a lot to get a little?
I knew of one investor that wud claim he wanted all the furnishings included in the price.
Of course the sellers needed those and they wud have to lower the price.
I've tried that a few times, and I got some great stuff, fridges, tools. junk.

Offline javipa

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Re: Sellers From Dark Side
« Reply #26 on: June 29, 2017, 01:47:38 pm »

Javipa, define dirtying up an offer. is that making unreasonable buyer demands that can easily be trashed so as to seem we are giving up a lot to get a little?
I knew of one investor that wud claim he wanted all the furnishings included in the price.
Of course the sellers needed those and they wud have to lower the price.
I've tried that a few times, and I got some great stuff, fridges, tools. junk.


It means not making 'clean offers.'  Or it means asking for more than you want, so that you can give up, make concessions, or otherwise force the seller to feel good about walking away with nothing, but his dignity.

For example, assuming you've seen the house, and are making an informed offer, your purchase offer might include asking the seller to replace all the carpeting, repaint the interior, seal and paint the basement floor and walls, and include all the kitchen appliances, household furniture, and contents of the garage in the sale price of Twenty-five thousand dollars.   

The point is to find the seller's limits; get him to say "no;" and otherwise make him work for the deal.  The point isn't to get all this stuff for $25k. 

You know you've arrived, when the seller finally says "No, are you kidding?  I'm not painting the basement floor!  If I'm gonna sell for $25, I'm not doing that."  Then you slowly accept the seller's demands and settle on $25k.

That's a most simplistic illustration, but it outlines the objective.

One last thing concerning concessions, we never want to give up something without getting something else in return.  It doesn't have to be remotely equivalent, but it needs to be something.  Otherwise, whatever we gave up without a concession, appears to be a dishonest demand, and undermines our negotiation and our credibility.

Barney Zick's course "He Who Talk First(last) Wins" is where I learned to frame offers this way.  I could say a lot more, but I can't.
"149 Ways (Plus One) To Find Motivated Sellers..!"  -Free Report-
>>> Click: http://sub2marketdomination.com/how-to-find-motivated-sellers-2/

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #27 on: June 30, 2017, 12:50:53 pm »
Last minute scramble.
Bob called yesterday, he says the Title company called and there is no instructions on how to divvy up the assignment fee.
I quickly turn the car around and take the assignment of contract and scribble a hand written note at the bottom of the contract that says the assignment fee will be divided up by 50% to Rando and Bob and I signed it, then I email it to Bob who also signs it.
Then Bob sends it into Title.
Bob says it's closing today. Which is Friday and it was supposed to close 2 days ago.
I tell Bob those checks wont be ready for us to get our grubby hands on till Monday or Tuesday.
Bob says Tuesday is a Holiday. I then tell him the Title company will take a 4 day holiday and you can expect your check next Friday.
Bob says, oh man don't tell me that. I think Bob was planning an excursion to the coast with his cute Mexican girl friend.
So close but so far..

Offline Randoskie

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Re: Sellers From Dark Side
« Reply #28 on: June 30, 2017, 10:48:29 pm »
I never thought it wud happen, oh I hoped and I was a little optimistic, but now its a done deal.
Bob calls to say the checks will be ready at 1:30. I tell Bob to pick up my check and come on by cuz I want to take a photo of us holding our checks with big smiles.
He says I cant, I got Mrs seller in the car with me. Holy crap, Bob is way to accommodating.
But that probably a big part of why this deal finally finished.
Of course Bob was in high spirits today.
I'm still worried something cud go wrong even as I hold this check.
The title girl came out to meet me, she was way too pretty and touching my shoulder with a big smile.
Now its time to get some direct mail going.
Let's make some Money....

Rando

 




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