Newbie Wholesaler's Week 16 Surprise!!!!

As the new year begins, I would like to give praise and thanks to God for a fulfilling 2014. The year was great for me and my week 16 was a culmination of the entire year in 1 week. Here's how I closed out the year and my week with a bang.

As I previously discussed, and many other wholesalers discuss importance of being consistent. You have to be consistent with mailing, consistent with returning phone calls, consistent with following up with cash buyers.... so on and so forth. The reason I discuss consistency during this blog is because it is the only way you will be able to close deals.

We mailed letters in late last month (December), our thoughts were its during the holiday season no one is going to want to call and deal with a possible move during the holiday. This was our thought but because of the consistency of our mailing schedule we sent the mail as normal expecting to field the calls in January. However, one seller was motivated to get his house sold, so we had to moved fast.

Here is the situation; the seller recently got engaged. His fiance live on one side of the valley and he live on the side of the valley. He and his fiance want to combine households. In my conversation I stressed the importance of being together for the holiday. I drove this point home continuously and informed him that its great to be together for the holiday especially being recently engaged. I continued to gather information about the situation, and how I would be able to help them. Throughout the conversation I listened attentively so I could have a clear understanding on what our exit strategy would be for him. In our conversation he also expressed that they recently put money down on a new house and he did not want to carry both mortgage expenses. I told him that we would be able to help and at least he would have comfort knowing that we would be able to possibly put the property under contract if we agree upon price and terms. I asked how much he owed on the property and what he would like to get for the property. Once I gathered that information and looked at the comps I had an idea that we were playing in the same ballpark. We agreed on a time to view the property and here we go....

I made sure I arrived at the property early enough so I could drive the neighborhood. This is important to make sure you have an idea of the dynamics of the neighborhood. Once he arrived we briefly chatted and I asked that he walk me through the property and afterwards I will walk the property alone and take pictures.

During the walk-through I pointed out some good quality of the house as well as the bad. FYI: during the walk through do not beat the owner down about the condition of the house, this is the fasted way to close the ears of your seller. There is an effective way to point out flaws without being harsh. This can be addressed by saying "were you aware of...." use this to bring the concerns to their attention, and stay in that area where the flaw is and briefly discuss how it got there or what would need to be done to fix it.

Once we completed the walk through I asked again what he needed to get for the property in order for him to sell us the property.

Guess what.... after the walk through he decreased the purchase price by $20,000 without any negotiating involved.

I was able to get the property under contract, added a lock box and informed our VIP buyers list. A buyer stated that they would like to close on or before December 30th....that was perfect for us and the seller.

The transaction was a win-win. The seller was able to sell his house before the holiday, and we were able to close on the property on last day of 2014.

Stay consistent and do not doubt your processes. I hope this gives you a little motivation to get out there and get busy. HAPPY NEW YEAR!!!!

"Enjoying the Journey"