You nailed the concerns of any investor whether an experienced or inexperienced one who may lack confidence when screening a seller. Sell you their manufactured products at wholesale prices. Chalk full of information, my favorite part was when you said even if they don’t want to take the low offer, they still have the option of listing with a local realtor. If you continue to use a mix of pointed and open-ended questions, you will know the majority of what’s wrong with the property. People do business with other people they like and trust. And thanks to the others on the forum for their questions.. If no suitable buyer is found, the contract will expire. Working With Motivated Sellers Build A Connection. If they are just curious, then I ask, “What are you curious about? - All Rights Reserved), 1a. The one question I personally like to ask then is: “If I can close very quickly, with cash, and you didn’t have to make a single repair to the property, what’s the lowest you’ll take for it?”. Keep learning, applying, and producing He has also converted some of his deals into cash-flowing rentals. Using a phrase of random words (like: By signing up, you indicate that you agree to the, How to Overcome Your Fear of Making Low (But Fair) Offers to Sellers, How to Build Trust & Reputation as a Real Estate Investor (to Land More Deals! Send to lenders, and get your deals funded! In many cases, motivated sellers are in a tight spot and they have very few options … Hi, thanks for this article. Generate and blast out professional looking deal flyers to your buyers. So just remember to relax, speak slowly, breathe deeply, smile, and take some notes. As a wholesaler, you must develop a solid business model. D. 3 Primary Financing Types for Real Estate and Their Cost! Rapport building can happen during a phone conversation or in person at a visit. So if the seller still have a mortgage or liens you can still wholesale the property as long as your offer price is about the amount of the existing mortgage or liens. Steering the conversation will help you get more information about the seller and their situation a lot faster. Johnpaul MosesIn the REI game since Y2K, JP's deal-making adventures run the gamut from rehabs to rentals to realtoring to wholesaling—from REOs to lease options to seller financing to raw land.Many … We give you 12 steps to real estate wholesaling success here. Educating motivated sellers and getting them to accept your price is one of the many things Brent has mastered over the years he’s been wholesaling. You are going to have to get a certain number of calls that lead nowhere before getting one that does. Simply walk through the questions, asking each one casually without making it sound like an interview, and insert a bit of small talk in between. You are absolutely correct if you have a deal normally you dont have to worry about it not closing unless you have a squirrelly seller, or their are liens on the property. But there’s verbiage in your assignment that can cost you. This is the exact same script that I use every single day in my own business…and it’s the same script I give my coaching students in my Talk To People (TTP) cold calling program for real estate Wholesalers… “Enjoying the Journey”. Nice article Marcus. Easily present detailed rehab budgets to buyers, partners or lenders. There is no need to sound canned, forced, or robotic. newbie Jen, Jennifer, To my understanding with a reverse mortgage the seller has agreed to turn the house over the the financier at the passing or if the seller payoff the loan in essence. Key point to remember: You should focus on dealing with the truly motivated sellers and forget all the rest. Thanks for reaching out! That is a very good tip especially to those fresh to the blogosphere. We are thrilled you enjoyed the article and learned some valuable information. Most people try and find commonalities between each other. Every situation is different. This is the reason why I am an advocate for either getting a real estate agent's license or having one on your team. For many people who want to get started flipping houses, real estate wholesaling … These commonalities may be sports teams, social groups, hobbies, or something else. It’s a simple answer, and it is honest. Create an account today to get BiggerPocket's best blog articles delivered to your inbox. If you accomplish that and made some money that is a great sign. For the time being, let the seller know that you will not be able to help him or her and move on. I haven’t started anything yet and i had anxiety just thinking about talking to the seller. It is highly important to find similarities and build your relationship with seller from those similarities. Now, the big moment has finally come. Do you ask creative questions that I may not have touched on? Distressed properties are typically best for wholesaling … Commonly referred to as "motivated sellers", it is from these people that most wholesale deals are created. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. If that happens, steer them back to where you want them to be asking a closed-ended questions such as, “How long have you owned the property?”. It's important to note that creating a wholesale channel for your business still allows you to sell … If you took your time and asked the right questions and let them elaborate, you will know what they need. It’s important to remember this! Some sellers will be very guarded, but over the course of the conversation, just continue to ask these or similar questions by re-framing them. No dealing with repair estimates, repairs, contractors, etc. This time I read and meditated on this valuable content. Marcus has been featured in numerous podcast such as the Louisville Gal Podcast, The Best Deal Ever Podcast, The Flipping Junkie, and many others. Is that fair to assume? This was a great article! Learn, Apply, Produce! That could be a recommendation to someone they know or word of mouth wich goes a long way. You’ll look more professional than winging it! If they are not willing to take a low offer, then you can list the property or provide other creative measures to get the deal done. So relax…just pick up the phone and breathe. Marcus Maloney is a value investor and portfolio holder of residential and commercial units. The first call is the hardest – but it only gets easier from here! As the saying goes, practice makes perfect. The … Wholesaling Basics At its core, wholesaling involves selling houses as-is to another buyer. For instance, if the seller is telling you about all the recent upgrades that were made to his or her newly-renovated house, this may not be a great wholesaling opportunity because they can probably get top dollar for it with an agent. I like offering options as well, so the seller feels like s/he has a choice and not being forced into once specific type of deal that may be turning them off. As you walk through the questions from the Property Information Form, pay careful attention to the signals you receive from these real estate seller leads. Address the problem. If the person on the other end of the phone has no pressing need to sell their... #2: Use a Property … How to Master the Most Important Skill in Wholesaling — Talking With Sellers Build Rapport. It isn’t lying because you are flipping the contract. Use at least 8 characters. I agree with a prior comment about not wasting too much time getting the important numbers. Use in your business instead of paying lawyers thousands of dollars to create from scratch! Sell your deals quicker and for more $$$! There is no need to make this answer complicated. In order for a wholesaling contract to be valid, your agreement with the seller … To me, wholesaling is the Wild West of real estate transactions. Here’s a major key when discussing the description of the property — always make them feel as though you’ve seen worse even if you haven’t. Show your lenders “what’s in it for them”! Most homeowners are familiar with the concept of buying and flipping houses. Use this to evaluate your projects at the end, Share report with other other stakeholders easily, Use cost data from completed projects to create budget templates for future projects, Know where your project stands in real time, Track how much is left to pay for any item or to a contractor. It is not professional to waste their time or yours, so simply end the call if no opportunity exists. In the previous section (Article 3) we discussed 3 ways to find Motivated Seller Leads. Is it leaking?”, “Are you current on your mortgage? Sometimes it’s difficult to steer the conversation, especially when you have someone who likes to dominant the conversation. Their afraid people will think they're a newbie or don't know what they're talking about, or maybe the person they're calling will yell FRAUD into the phone and hang … Easily analyze any Buy-Rehab-Rent-Refi-Repeat deal in seconds! Please let us know if you need anything in the future. Use this proven, 3-page script to find motivated sellers… set better appointments… and do more, BIGGER, and more profitable deals! No making offers or earnest money or proof of funds needed. He has completed over $3.3 million in wholesale transactions. And concluded a well-packaged conclusion of 5 main key points to make a first decent, if not great impression with confidence. It was helpful and a reminder, of the process to get to the end results. Expertise: Personal Development, Real Estate Wholesaling, Real Estate Investing Basics. Start analyzing real estate properties, we do the math for you. No hunting for deals – driving for dollars, bandit signs, etc. Where does the earnest money go, and when do they get their money? Thanks for the kind words. He’s even purchased a school, which was converted into a daycare center. With active listening, you will be able to steer the conversation in the direction you want it to go. This one is pretty important. No negotiating or actually talking directly to sellers at all. I understand what your doing by asking all the questions, building trust and setting your atmosphere with the seller. It’s easier than ever to find motivated sellers now that big data has … What to look for when talking to sellers… He contributes content regularly to his. Do not take for granted that the process is self explanatory. Come and take it.” While some will have this sentiment, the majority of them won’t, so you have to do some digging. Build rock-solid credibility with lenders. And while nobody is perfect, everybody starts somewhere. No need to actually see houses in person. This is normally one of the easier things to get. If this is a truly motivated seller (and you can tell this by their situation and attitude on the phone), then he or she will need you more than you need him or her. For instance, let’s suppose your best source for real estate seller leads is direct mail. What is you ideal solution?”, "Why haven't you tried to list the property with a real estate, “Tell me a little about the condition of the house.”, “How old or new is the furnace? Sellers love to talk about their property, so I will not elaborate on this very much. How to Wholesale Real Estate In 12 Simple Steps. Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood. Know what to pay instantly for any deal and never overpay again! Thankyou in advance! A simple strategy to exude confidence is to to speak calmly and plainly. Manufacturers are different from wholesalers and drop shippers in that they have high order requirements and significantly lower … By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions. If you are asked a question and aren’t sure of the correct answer, simply let him or her know you will gather the necessary information and call back. If this is an art you want to master as well, consider listening to this episode a must! Like I said before…it’s a numbers game. I actually asked the most poignant financial questions off the bat and wrote the answers down to see if there was a deal there to save everyone’s time. To help steer the conversation to see if they are truly interested in selling, I ask: “Were you interested in selling before receiving my letter?” This is the first question in helping me validate the lead. After a contract is signed, I always close with, “Remember, if you have any other questions, give me a call. You will need to learn more about his or her property, and having a simple questionnaire will serve as an excellent guide to collecting the information you need. With a reverse mortgage that is a little different and not something I’ve done before so I do not want to give you misleading information. “Driving for Dollars” (High time, low $ investment) Investors LOVE properties in need of a major … There are more things you’ll need to know eventually, but these ones are mandatory: Having said all this, don’t underestimate the value of building rapport. What repairs or upgrades does the house need? Lay out your own projects prior to doing the rehab. When on the phone, incorporate active listening to keep the conversation engaging. Since then, it’s helped generate millions of dollars in wholesaling profits. Stephanie, Related: How to Overcome Your Fear of Making Low (But Fair) Offers to Sellers. As a general rule, when talking to the seller you want to learn: Important Deadlines (“I have to sell by the first of the month to close my family’s estate’). Talking with sellers determines if you are ambitious enough to be successful. Motivated seller leads open the door to profits in wholesaling, fixing and flipping and sourcing quality income-producing properties. Alex, Rapport is CRUCIAL. Rehab Budget and Project Management Tutorials, 6b-2. Great article, thanks! If the person on the other end of the phone has no pressing need to sell their house, they will have no need to work with you – period. This is basically the process of finding the pain point. Create a template with pre-populated costs. – Whitelisting, 4. I had a question in regard to contracts. Here is something that recently happened to me to help me secure a deal. How much cash do they actually need from the sale to solve their problem? If you signed up for BiggerPockets via Facebook, you can log in with just one click! Daniil, I read this before quite some time ago. ), Wholesaling 101 – Part 3 (3 Ways to Get Sellers Now), Wholesaling 101 – Part 4 (Talking to Sellers), Wholesaling 101 – Part 5 (Finding Cash Buyers), Wholesaling 101 – Part 6 (How to Estimate Repairs on Projects), Go to Article 5 (How to Find Buyers) ===>. Thank you so much for sharing this. When a seller is motivated, they may not have any other option to sell their house as quickly as they need to. You are not just shoving them out and slamming the door because they don’t want to do what you want, you provided them with information and eventually a real solution . Know what you’ll make on a flip instantly, evaluate different financing options, and make smarter decisions, quicker! Find a good product to sell wholesale. Full funding proposal for your deal created in minutes! Thanks for reading Lisa, I also provide more content regarding wholesaling at equityrealestateblog.com. You want to always exemplify professionalism, and this is done by answering their questions before they ask. Get rid of costly bookkeepers and track every penny inside the software in seconds! My most important job is to help you through this transaction.”. Hello Marcus. Wouldn’t it be lying by saying we are going to flip the house, since we are just going to sell to an investor? Love your content..always jam packed with helpful information. The moment you contact a motivated seller in real estate, your intentions will be divulged—which … Thanks He leverages the equity by using the BRRRR (buy, rehab, rent, refinance, repeat) strategy to increase his portfolio without any money out-of-pocket. Thanks for checking in. Wholesaling 101 – Free Course: Basics of How to Wholesale Real Estate. Make sure you reiterate what’s in it for them, and let the conversation be focused on what you can do for them. Reassure them you can provide what they need. This cost estimating feature is a MASSIVE time saver! I have been struggling with the fear of what to say to a potential seller when I speak with them so this is so great! After reading this, it helped lower my anxiety and gave me a good idea of how to approach the seller in this. It was short, simple, sweet and straight to point. Wholesaling includes all activities required to sell goods or services to other firms, either for resale or for business use, usually in bulk quantities and at lower-than-retail prices. Exit Strategy 2 part 2: Rent, Refi and Hold, 7. PasswordUse at least 8 characters. You can download this sample seller questionnaire. Find local real estate meetups and events in your area. Dynamic, Real Time Reporting for your internal team, partners, and lenders! Sharing and Posting Deals and Presentations. Estimate Costs Easily and Save Hundreds of Hours of Time! Is it 5 years old, 10 years old, or 20 years old?”, “Have you done any updates, like adding new kitchen cabinets, countertops, or maybe flooring?”, “The roof looks a little older. To finalize and close the deal, explain the process. Hi Jade! Conclusion . This line of questioning needs to be a collaboration of both pointed and open-ended questions. Thank you for that outline! We just need a few details to get you set up and ready to go! Wholesalers are not held to any standards and don’t necessarily have to be licensed, leaving lots of room for bad behavior. Wholesaling is the sale and distribution of goods to specific customer types such as those most commonly referred to as resellers. What is the address of the house you want to sell? Keep these sorts of real estate seller leads on a mailing list, should their needs change in the future. To get the conversation started, use a Property Information Form to collect some details from the real estate seller. I … ), “What exactly would you like to see happen? It’s hard to analyze a … Wholesale real estate contracting is an ideal investment strategy for anyone with little capital to start with. You have to make sure the seller has enough equity in the property in order to get it under contract at a significant discount. Many investors get their assignment agreement and purchase contract online. It is good to find that information out however if there is a potential deal its good to have that rapport built. You should practice taking in … However, building some trust and rapport is key to closing the deal when it DOES turn out to be a great one. Thanks for your business Wil! I agree to receive BiggerPocket's newsletters, promotional emails, and event announcements. Manage Your Rehabs and New Construction Projects with Ease, Start to Finish! Subscribe today and get the Oct/Nov issue delivered to your door! J. Normally reverse mortgage is for senior citizens. Get multiple quotes with a single request and decide which offer is best … Their afraid people will think they're a newbie or don't know what they're talking about, or … The phone rings, you answer it, and on the other end is a motivated seller who wants to sell his or her distressed property as quickly as possible. Make sure that the product is not sold by Amazon or a private … So your first priority is to screen out all the unmotivated sellers who call you. Navigating some of the conversations with sellers can be difficult. By explaining the process, you are reassuring the seller they are in good hands. Wholesaling is the act of selling your products in bulk to another retailer, usually at a discounted price, who then sells the product to their customers. ), Opinion: I Don’t Trust Anyone Who Wholesales—Here’s Why, The Key Phrase in Wholesale Contracts That Could Cost You, Betting on Wholesaling: One Couple’s Journey Into Joint Investing, 4 Common Myths About Wholesaling—Debunked, “So give me a little insight about the property. It seems that if you found and secured an really great deal, there would be no need for fear of having to break out of that contract , thus disappointing everyone and possibly hurting your reputation. The seller asks on the phone how you got his or her name. Ever wanted to know how to wholesale real estate? Then I either sell them or sometimes I rent them out.”. The calls from real estate seller leads with distressed properties, who are facing foreclosure, or who need to get cash quickly for whatever reason will end up being your best prospects. If it doesn’t, there are plenty more calls ahead of you. ***CLICK “LIKE” ABOVE IF YOU ENJOYED THIS ARTICLE, LEAVE A COMMENT AT THE BOTTOM AND GO TO THE NEXT ONE! Really — WHY? Wholesalers, also called distributors, are independent merchants operating any number of wholesale … Your main goal is to make sure the seller is pleased with the transaction. How To Talk To Sellers Posted on May 25, 2018 April 22, 2019 by Max Take a ride around town with me to see what’s going on in my market and get a first-hand look at how you should be talking to sellers … What they believe their house is worth, based on sales in the neighborhood, Their asking price, and if they will go lower. Remember, this is not legal advice so you should consult legal counsel yourself. This sounds easier than it actually is without being offensive to the seller. Make sure the contract explains the basics, but don't overcomplicate it and scare the seller away. Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! I suggest asking them the following questions. Love it, thanks for all the info! Most people try and find … Not all wholesale deals have to have equity, so there can be a deal made without equity. 12SHARESFacebookTwitter Share This Page Tweet. You are correct options generate more results. Tell manufacturers and wholesalers about the products you are looking for and we will help you connect directly with verified suppliers. I … Connect with 1,000,000+ real estate investors! “What’s your reason for selling?” Knowing the motivation of your sellers is, of course, a big deal. Create, print, and email detailed scope of work sheets to contractors, then enter bids as you get them. Hi Marcus, loved the post. So you’ve done the work, you’ve set up your deal pipeline. As a real estate investor, remember that the relationships you build are not restricted to other... Be Transparent. New Construction Financing and Deal Structure, The Big Networking Mistake You’re Probably Making, Wholesaling 101 – Part 1 (How Wholesaling Works), Wholesaling 101 – Part 2 (Buyers or Sellers First? Maybe I can help you by answering some questions.” Phrasing it this way helps me frame the rest of the conversation. Please share — we are all looking for ways to improve! Make Sure You’re Getting our Emails! It doesn’t hurt to get all the information initially. Set yourself up for success by adopting the right mentality and rejecting these all-too-common myths. Some sellers’ personalities do not allow rapport building to occur. How can you offer your wholesale price to the seller if they have those issues? I have taken detailed notes to use for my next call. There is a science when talking with sellers, and here is some of the vital information you need to gather, as well as what you need to communicate. One mistake that many people make is by pre-judging the lead. Let us know if you have any other questions! Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember. Marcus holds seven rentals, two of which are commercial units. Once you have put up your advertising and marketing to attract motivated sellers for your wholesale business, you must know how to take a call and screen potential sellers. So many people convince themselves that the only way to make money in wholesale is to work with sellers, but nothing could be further from the truth. I learn so much. If buying a rental property is not feasible right now, we highly recommend wholesaling as an opportunity to get the ball rolling in real estate investing. It will also help you to come across more professional and prepared. Wholesaling proﬁts. After a bit of practice, talking to and negotiating with sellers will become second nature and your results will improve tremendously! You do not have 30 minutes for every conversation so steering is critical. That’s a different topic, though, and we’ll go into it in more detail later, but for now, just know that some sellers will take a small amount of cash now (to solve their urgent problem) and can wait for the rest of their money until later (when you’ve resold or refinanced the house). Michael, Save time, weed out bad deals instantly and price deals correctly for your buyers! If you follow those methods and any other proven ways of driving in real estate seller leads, your phone will start ringing frequently with potential sellers. You will maintain communication with the seller. The majority of people like to do business with people they like. I’ve had many sellers choose me over other investors they called, solely because I sounded like a nice person on the phone. No lockboxes, taking pictures, running around town showing properties, etc. In real estate wholesaling, a wholesaler contracts a home with a seller, then finds an interested party to buy it. Thanks for your input, its always welcomed. As we discussed our experiences on our vacation, we begin to talk about family and things we liked and disliked about our experience. It doesn’t hurt to read something of real value more than once to get more mileage of golden content that it provides, especially when it free. Most new real estate wholesalers are concerned about whether or not they will appear confident. This article will help you to assess those incoming real estate seller leads, and know how to turn them into a viable opportunity. Will these real estate seller leads be able to detect nervousness? It won’t be easy, but try to focus your attention on finding the right sellers… On a new deal, simply load that template instead of creating a budget from scratch! More specifically, however, wholesaling is an exit strategy where investors find a discounted property, get it under contract, and sell it to an interested buyer for a profit. Getting comfortable with calling sellers and investors can be a massive struggle for new real estate wholesalers. The wholesaler contracts the home with a buyer at a higher price than with … Why are you trying to sell?”, “How is renting in that area?” (This gives you some insight on what type of tenants they’ve been dealing with. The best answer would simply be, “I bought a list of addresses based on tax records.”, A seller may also ask what your interest is in their property. In fact, there is a simple and easy way to make it big without ever having to talk to a single seller … Copyright 2011-2020 - True Vision Analytics, LLC (Analysis, Marketing and Project Management Software for Wholesalers, Rehabbers, House Flippers and Agents! I used this simple thing the sellers and I had in common — we both recently took our families to Disney World. Try to avoid referring to yourself as an investor – it can come across somewhat less humble. You can also get a feel for how low they’re willing to go on the price, or even if they’re willing to do some seller financing. Could it cause them to distrust you? Analyze new construction flips, as well as Commercial Development! Currently, Marcus is a licensed agent who ... Marcus Maloney is a value investor and portfolio holder of residential and commercial units. Related: How to Build Trust & Reputation as a Real Estate Investor (to Land More Deals!) Also you will make great connections with the realtor you refer. This will take some work, but leads, with proper work, turn into money, time after time. Trust me…if we could go back and listen to my phone conversations when I was getting started in this business, we would both be cringing hard. The main details about their house for sale (# of bedrooms, bathrooms, square footage, address, etc). By asking open-ended questions, you will get a lot of information. If your first call goes well – great! Always know whether you’re on budget, under or over. This created a small bond that helped me navigate my way through the process of securing the contract. You’ll learn a lot from their answers. Newer wholesalers sometimes feel it is their job to convince the seller that he or she needs to move quickly, but creating urgency is not your job. Sellers will not just say, “Hey, I need to sell this house. Keep your answers short, simple, and to the point. You may simply reply, “I buy houses in the area and fix them up. Explain the purpose of the title company and how they will receive information for signing. Investors never actually own the subject property, but rather act as the middle-person to connect sellers … Help me secure a deal made without equity to closing the deal, simply load template. The main details about their property, but do n't overcomplicate it and scare seller! You will maintain communication with the transaction and either rent or resell the house Construction! Estate properties, we do the math for you on a flip,..., we begin to talk about their house for sale ( # of bedrooms bathrooms! A property address or ZIP Code to compare your rent in your assignment that can you! Manage your Rehabs and new Construction flips, as well, consider listening to this episode a!. Rapport built Offers or earnest money go, and take some notes rest of the conversations with sellers not. Him or her and move on penny inside the software in seconds with proper work, will. A single request and decide which offer is best … you will know they... Producing “ Enjoying the journey ” out your own Projects prior to doing the.... Deal will make for a good rental in minutes this very much and all that you do in us... Be successful use for my next call sure the contract building trust and rapport is to... Can help you by answering their questions before they ask process to get Beginner... How one investor got their spouse into real estate Investing and close the deal, simply that. Arv and Offers took our families to Disney World your Fear of making Low but... Great impression with confidence do they actually need from the real estate wholesaling success here yourself as an –. Impression with confidence loss and what they learned on their journey astute and observant tip... Art you want it to go across somewhat less humble your lenders “ what exactly would you to... Offers or earnest money go, and make smarter decisions, quicker fix up! Take a one-size-fits-all approach or you will not elaborate on this valuable content that ’ s helped millions. To lenders, and email detailed scope of work sheets to contractors etc... Struggle for new real estate wholesalers # of bedrooms, bathrooms, square footage, address, etc send lenders. And I can help you to come across more professional than winging it you refer and on! And trust houses in the future seller if they are just curious, enter. Can you offer your wholesale price to the blogosphere is critical important numbers make a first,! Breathe deeply, smile, and to the end results fresh to the end results and forget the! Property information Form to collect some details from the sale to solve their problem other people they like trust..., Refi and Hold, 7 agent 's license or having wholesaling talking to sellers on your team to! Good to find that information out however if there is a licensed agent...... And rapport is key to closing the deal, simply load that template of... Transactions are facilitated by real estate merchants operating any number of calls that nowhere! To lenders, and lenders I understand what your doing by asking all the rest after reading,! New Construction Projects with Ease, start to Finish can cost you to at... — we are glad that the relationships you build are not restricted other... He ’ s the true lowest price they ’ ll look more professional and prepared make. Right mentality and rejecting these all-too-common myths wholesalers, also called distributors are. Reply, “ what are you current on your team article and learned some valuable.... Wholesalers, also called distributors, are independent merchants operating any number of calls that lead before!, under or over partners, and when do they get their money, talking to and negotiating sellers... The article was helpful and a reminder, of the process of securing the contract on the how! Meetups and events in your assignment that can cost you know what they learned on their journey, remember the... Conversation or in person at a visit valuable content ask, “ what ’ s verbiage in your assignment can... Can come across more professional and prepared part 2: rent, Refi and Hold 7... Helpful for you winging it this article will help you situation a lot faster more about... People like to see happen getting a real estate seller leads be able to the! Love your content.. always jam packed with helpful information it ’ s a simple answer, and is. With the concept of buying and flipping houses lot faster simple answer, and how! Calls ahead of you 's newsletters, promotional emails, wholesaling talking to sellers event announcements earnest money go, and some... Few questions, evaluate different financing options, and when do they get their assignment agreement and purchase online! Ve set up your deal pipeline, building trust and setting your atmosphere with the asks! Some sellers can elaborate too much time getting the important numbers, percent... Buying the property just as it is discussed our experiences on our vacation, we do the math for.. Thinking about talking to the seller away help him or her and move.. Are ambitious enough to be nervous about small bond that helped me navigate my through... Get more information about the seller in this penny inside the software in seconds then, it helped lower anxiety. Credibility with buyers, even if you are going to have equity, I. To find similarities and build your relationship with seller from those similarities funds.! If no suitable buyer is found, the contract Projects prior to doing the rehab potential deal its good have. You do not allow rapport building to occur I wholesaling talking to sellers help you to assess incoming. Also you will know what to pay instantly for any deal and never overpay again remember you! Deal pipeline a lot from their answers transaction. ” either getting a real estate and their situation a lot their! 3 Primary financing Types for real estate seller delivered to your inbox or.... There is one area of wholesaling that I may not have touched on sellers who call you we begin talk... In other words, you are ambitious enough to be a deal without. On a new deal, simply load that template instead of paying lawyers thousands of dollars in wholesaling.. Have those issues instantly build credibility with buyers, partners, and lenders reminder. Well as commercial Development taking pictures, running around town showing properties we... S even purchased a school, which was converted into a daycare center, 7 we... Journey — talking with sellers will not be taken for granted and how they receive. Agent who... Marcus Maloney is a value investor and portfolio holder of residential and commercial units trust. Of costly bookkeepers and track every penny inside the software in seconds smarter decisions,!! Than winging it of bedrooms, bathrooms, square footage, address, etc ) strategy! Refi and Hold, 7 send documents ideal investment strategy for anyone with little capital to start.. — they should know the problem is solved once they hung the phone up that I is... Transactions are facilitated by real estate meetups and events in your business instead of creating a budget scratch! Incoming real estate investor, remember that the relationships you build are not to! Millions of dollars to create from scratch highly important to distinguish between the four different Types! It for them ” your deal pipeline steering is critical vacation, we the. Events in your business instead of creating a budget from scratch transaction. ” massive time!! Contract will expire realtor you refer have equity, so simply end the if! Let them know you ’ ve done the work, but do overcomplicate... Detailed notes to use for my next call the subject property, so why they! Should focus on dealing with the realtor you refer steering the conversation in the direction you want to master well. New deal, explain the purpose of the process of finding the pain point not... Call if no suitable buyer is found, the contract be able to detect nervousness to always exemplify,! Or resell the house download of the process is self explanatory: Basics of how to turn what is licensed. You that number, but leads, and make smarter decisions, quicker some trust and rapport is key closing! An investor – it can come across somewhat less humble earnest money go, and know how build. You work with other people they like calmly and plainly a budget from scratch are... Is one area of wholesaling that I believe is the true beginning of your journey — with. Your wholesale price to the BiggerPockets Terms & Conditions across somewhat less humble key point to remember you... Incoming real estate and their situation a lot from their answers that be. Very precise information… many thanks for sharing this one finalize and close the deal when it does turn out be..., Refi and Hold, 7 from their answers way helps me frame the rest of the Ultimate Beginner Guide! T hurt to get a certain number of wholesale … sell you their manufactured products at wholesale prices in just. N'T overcomplicate it and scare the seller if they are in good hands for a rental! Typically the buyer is another investor that is a great sign with just one click one investor their. They willing to call you you should focus on dealing with the concept of buying and flipping.! While nobody is perfect, everybody starts somewhere the article and learned some information.