I have only been making deals happen in the last few months. But, I have to say, you are not going to buy every house that an owner calls your phone. I know I want to, but there are so many reasons why you shouldn't. I just want to encourage other beginners to just be honest in your approach over the phone. Today, I had a seller who had lost her son a couple of years ago and was left with the house. I think Ben Grise said it a few times in podcast show #91. He said to establish rapport with sellers. Man, that is so true when talking with a woman who lost her son tragically. I mean, if I was a shark and called her up just giving her my price and telling her the house is worth nothing-what would that say about who I am? I was able to give her options on what could be done in her situation. This was such an "ah ha" moment for both me and for her. She realized that she was talking to someone who genuinely cared about what she was going through and someone who really isn't all about the money! I hear people say that, but I really want to see the best for people. Sometimes the best for someone is for them to list with a regular real estate agent for the top dollar the property can bring in.
I think if we can give advice and guide someone on what is best for them and not us. Then, we will really win (in the end). You see, she may run into someone else someday who really needs my service and she may give them my number and I may get a sale someday. If not, I can at least sleep at night knowing I gave the best advice to the ones who are around me. If we are all about the numbers and not about the people-then we will fail! It all comes back around. You do good, then good things will come back to you. If you do bad things to people, bad things tend to find their way back to you. I am so proud to be apart of a community that promotes positive actions in each other. New investors please take note:)
Good for you! Karma and business go together in my experience. You're now one step closer to your deal.
That is how we should approach everything in life! This lady looks up to you and you have shown your true character. You cannot buy a reputation...they are earned! Actions define character. Glad to meet you on BP!
Sometimes the best deal you make, is the one you don't make.
That's solid advice, thanks.
Great post. Appreciate the encouragement to succeed in investing while not being a schmuck. I'm hoping to wholesale a bit myself. I'd like to think I can succeed while doing the right thing.
Last year I got a call from a lady whose mother had gotten a yellow letter from me. Her mother had passed that week and the daughter called me on the day of her mom's funeral. I said I'd be happy to talk to her anytime she was ready in the future, and was ready to hang up, but she wanted to talk then. The last thing I wanted to do at that moment was to make an offer on our house. My mom passed two years ago, and we reminisced together.
We talked again in a few weeks and then a few more times over the following year, until she finally sold me the house last April. She really wanted to sell the house to me, though she had gotten mailings from several other investors.
The lot had one old house on it, which I am going to sell to another investor who wants to move it to his lot. I'm in the process of dividing the lot into two, and it looks like we will be able to build three houses on the property.
@Stephen Barton great to hear that you are applying what you learned from listening to my podcast episode. Wholesalers get a bad rap because of the bad apples out there who make us all look bad.
Keep doing what you're doing and you'll begin to stand out above the rest.
I love talking real estate so feel free to give me a call sometime and let's talk!
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