Angry voicemail
Today I got a semi-angry/disgruntled voicemail from a property owner who requested to be taken off my mailing list. She said,
"I've talked to investment groups like yours in the past and they just want to come in here and steal the property from me and not pay me what's it's worth. I want you to know I'm coming to Tulsa this summer to fix my property and sell it myself"
So that got me thinking, how do you respond to someone like this when you're actually in a conversation. Obviously when they have that attitude the odds of it working out to a deal are probably minimal, but how can I at least help this person understand where investors are coming from when they make the offers they do. So I thought of an anology I could provide that would go something like this:
"Ma'am, that's very true, we do make offers that are below market value, but let's pretend for a second you are in the market to buy a car. You come across a seller who has a car that is worth $10,000. It's got a great paint job and a great interior, but it unfortunately needs an engine rebuild that's going to set you back $1,500. So the gracious seller has offered to sell you the car for $1,500 off and give it to you for just $8,500. Does this seem like a fair deal to you? (rhetorical) Obviously the answer is no because now you are taking over their problem of having to get the car fixed. What happens if it turns out to cost more to repair than estimated? What happens if the mechanic finds other problems that require additional cash? What about the inconvenience you'll endure by not having the car while it's being repaired and you're making payments on it?"
It's the same exact thing in real estate. Only they don't just need an engine rebuild, they need an engine rebuild, a paint job, and a new interior. Food for thought.
If anyone else has some responses that have worked for them in the past, I'd be interested to hear them.