How Do You Make Your Offers?

Bird Dogs, Wholesaling
1

I was just curious to see what other people’s appraoches are. Once you know what you are willing to offer on a property how do you go about making your offer to a seller?

2

Go up to them and make them an offer :wink:

Nate-WI

3

So, your routine is to just say hey this is my offer take it or leave it without any explanation of how you came up with that number?

4

You have to make offers so you can learn. Simply tell them this is what your offer is and why. Just be honest and don’t get attached to ANY property. Offer what you feel is a good deal and if they say take a hike then give them your card and walk. Its not your problem its theirs.

Nate-WI

5

I think you got the wrong idea about my question. I’ve been wholesaling for almost 2 years. It’s not like I’ve never done this before.

I was just asking what other wholesaler’s method of actually presenting their offer to a seller is. I was curious to see what others did.

6

You are correct. I was wrong about your statement. If you post more clearly as to exactly what your question is you will get the answer you are looking for. A vague statement will get short answers and not much discussion.

Nate-WI

7

Sorry to have wasted your time…

8

I agree. I thought the initial question was rather vague as well not knowing you were an experienced investor in wholesaling already.

The homeowner knows your in the business to make money. They have a dump they’re sitting on that needs $1000’s of dollars of repairs, you have holding costs, misc fees, closing costs, and on and on so if your homeowner is insulted by your offer, he isn’t a motivated seller then.

Tell him you buy one property a month so if he can’t make a decision right then and there to accept your offer (or counter-offer) give him your card like Nate said and be on your way and tell him you have some other properties your going to look at so if you get a deal from one of those you won’ t be dealing with his and wish him good luck. It might light a fire under his rear to accept your offer after all.

9

I will usually make an offer on the spot or over the phone after speaking with the seller.

Recently I received a call from someone who was looking to sell their property. I know my area very well so I know what the property is worth if it is in good condition. The seller gave me the address of the property, told me their asking price, told me the repairs and all of that.

I asked what is the lowest amount that she would accept and I then told her this is about what I would be able to pay for the property. She was shocked because I havent even seen the property and was confused as how I can offer her this money without seeing the property.

So to answer your initial question I can usually ballpark my offer on the spot to the seller. Some people will tell you this is a bad idea, but it works for me and it weeds out the non-motivated sellers from the movitaved.

I don’t really care what the property looks like, if you know your area you can ballpark a figure without even seeing the property. If I drove to every property first and then made an offer I would be throwing away alot of time.

Brandon

10

I am a brand new wholesaler and been taught to look for distress homeowners. How do I find distress homeowners? recently I was told to run an ad, but any other help would get me started. Any advice? I know I am crawling now but looking forward to walking to start running. I recently retired 20 years military service.

11

Are you talking offers directly to homeowners or through an agent? Either way, as one of the previous posters said, make an offer that fits your reasoning and don;t get emotionally attached to the deal.