Have you ever wondered who’s getting all of the mind blowingly profitable Real Estate deals in your community? Well I’m “That Guy”…Talking to owners in distress has really become my thing because I follow a system that none of my competition has been able to recognize.
It’s quite simple actually, and I want to show you a few of my tactics so you too can be the one in town that grabs deals that all of the local investors are grabbing for.
Allow me to set the stage for you. Mrs. Johnson, a motivated seller with only 30 days until her auction, has called every single investor in town. If you had a bandit sign or an ad in the paper, you got a call from her. Every investor in town has also run the numbers on the deal to find that it’s a whopper. The kind of deal that would let them put their wholesaling business on cruise control for a few months. You’ve received that very same call.
What do you do?
First off, “Other Investors” are irrelevant because you’re going to be the one that closes the deal. For me, I like to be the first one to the house…I try to find out if she’s meeting with other investors and what time, then I make sure that I’m scheduled in to be first…
A few things I would do:
Do research on the property and make sure you know the neighborhood comps. Print up the lowest comps that you can find…bring them with you. Print up the property appraisor’s sheet on the property that you are visiting. You will look prepared and efficient.
Build rapport before you start even talking about the house.
Emphasize how you get things done quickly and easily. You’re the best home buyer in your area. Let her know that she can have confidence that you’ll handle everything right away and correctly. Your offer is really the best deal for her…she may get slightly higher, but they’re not experts like you are.
If she balks at your offer, be sure to whip out those old comps and say…“I know Ms. Seller…I thought that I could pay more than that too…I really wish I could…EXCEPT…whoever bought 101 Maple Street really screwed it up for all of us. He paid so little that he brought down everyone’s property value. John Doe at 202 Maple Street did the same thing…” You get the idea…make sure that you’re on her team working against a greater evil. In this case the NEIGHBORS that forced you to offer such a low price…
Don’t leave her with a copy of your contract EVER!!! If you leave her with an unsigned contract, she’ll shop that bad boy around town so fast and every other shark will have a copy of your contract. You’ll be used for leverage and you don’t want that. You want to be the guy that gets the deal. I personally don’t leave without a signed contract…but if you’re not as ballsy as I am, you could always tell her to speak with the others and give her the courtesy of a call before she signs with anyone.
Make sure that you put “AND/OR Assigns” on your contract so that you can flip that contract to another investor.
What if she NEEDS her mortgage balance to pay off the loan for the auction, which is more than the house is worth, which is the typical ordeal for the “Mrs. Johnsons” out there??
Somebody delete this post, it’s spam. Look at his signature.
Get comps!!! W O W!!! So THAT’S what I’ve doing wrong. I usually just go into these homes and have the owner guess how many fingers I’m holding up behind my back!!
Build rapport BEFORE talking about the house. Another PRICELESS TIP!!!
And the cherry on top…
“I don’t leave without a signed contract.”
I guess this GEM should be filed under the “Building rapport” section. :shocked No better way to build rapport than being “BALLSY”
This guy has as much experience buying homes as I do flying Space Shuttles.
You want know the REAL TRUTH about making money in Real Estate that everyone else is too scared to reveal you?
Wow…I was going to offer that advice, but I was too scared. Kudos to Pete for having one of the funniest posts I’ve read. :lol :lol :lol :lol
Relax guys. There are many beginner investors that would benefit from basics. Some people have no idea what they are doing. Instead of trashing him, why don’t you start posting suggestions to help out other beginners? I see a lot of “experts” just sitting around and not helping out and only trying to recruit business as well. You cannot blame a guy for giving basic information.
If she owes more than the house is worth, I wouldn’t even be at her doorstep trying to work a deal. Unless you’re someone that likes to spend hours talking to a bank on a short sale.
I realize that you may feel a bit challenged because my headline was “How I’m Able To Steal Your Deals”…and so you’re bashing my posting. That’s perfectly fine…I’m making plenty of money wholesaling houses.
To the clown that wrote that this was “Basic Information”, remember that this is merely a message on a message board Labeled “Beginners”, I’m not going to waste my entire day typing out a full tutorial on analyzing deals. Can you please direct me to the Complete Step By Step inner workings of a deal that you posted on here?
This is hardly spam…I merely posted information for newbies to read. Isn’t that the point of this forum? The link at the bottom directs you to a free real estate investing guide on wholesaling. Simply free information that goes into more detail about what I’m discussing in this posting. I’ve posted messages on Creonline as well, where they don’t allow you to put a signature tag.
And Lastly, someone made mention that I was a bad apple that ruins it for the rest of you? Can you please explain why you feel that way? I honestly want to know because you must really be a little panty waste if this posting gave you that impression. Is it because I don’t leave the seller with an unsigned contract?? HAHA…if you do that, you really are a clown…Because I will certainly take your deal, while you’re waiting for the seller to call you back…
I don’t think you could take a cookie from a 3 year old. Never mind someone else’s deal.
Another “Genius system seller”
I’D LOVE to know how you “Personally REFUSE to leave without a signed contract.” But 2 paragraphs before recommend “building a rapport with the owner.”
Yea right… We all know how much people LOVE the salesman that won’t leave tactic… No better way to “build rapport” than being “ballsy” and convincing the seller that your completely obnoxious. REAL DEAL STEALER!!!
As a matter of FACT… I CONSISTANTLY buy homes for LESS money than the nit wits out there using your BS tactics. I LOVE guy’s like you!!! When I walk into a home AFTER someone like you…YOUR DONE!!! You could offer the owner $20K more than I did and you still won’t get the house.
PEOPLE HATE BEING PUSHED!!! It doesn’t matter if your selling cars, buying houses, selling houses. YOU PUSH…YOU LOSE!!!
It’s comments like this that tip off every experienced investor here to the fact that your a CLASSIC “read a lot of books, but haven’t done a whole lot of deals type.”
To answer your question…maybe I wasn’t clear in my original message. I don’t force someone to sign a contract with me. I merely don’t go out to appointments that I’m not 90% sure that It’s a good deal, and I build rapport with the seller to the point that I won’t leave the house without a signed contract.
FdJake, If the homeowner is contemplating shopping your contract around, you need to put some kind of urgency into the deal. Otherwise, they’ll want to consider other options, and your goal when in your in front of the seller is to get them to sign the contract.
Fdjake - I don’t abuse the homeowner, nor do I insult their home. I merely show them how I’m the best option for them.
Fdjake…I have done quite a few deals, believe me. I am sure that I live much better than you as well. I’ll send you a video of my condo on the ocean in Florida. Where would you like me to send copies of my latest closing statements & Huds?
GREAT…Send your condo photos to my WATERFRONT HOME!!!
And please forward your Hud 1’s to any of my 4 Self Storage Warehouses!!!
WOW… Ocean front Florida Condo OWNER!!! HOW IMPRESSIVE!!!Now there’s something you don’t see everyday, Oh wait… you can buy those with a line of credit on a bicycle.
I take back everything I said…
Your condo and $3.00 will buy you a nice cup of coffe down there. Bet you got it PRE-CONSTRUCTION??? Come on, admit it!!!
I could buy a dozen of those with a single phone call in about 5 minutes.
You actually need to pay for those condos now? I thought you could get one free with the purchase of a frozen turkey. Markets are different all over and they come around every few years. I am sure Florida will rebound eventually.
Behind a PC everyone has a bigger wanker than the next guy.
And fortunately we dont spam advertisements on these forums.
