How do you remain confident while being ignorant?

3 Replies

I feel I have a found some leads in my area outside of the Austin/San Antonio market. An elderly gentleman in his 70's has a few old rental properties that sit vacant and uncared for. The kicker, for me anyways, is this is a rural area an hour outside the metro areas and people seem to be a bit more cautious when someone states they are an investor. I really don't want someone getting a wrong idea like I'm trying to swindle them, and ruin a reputation I haven't even started yet in the area. Obviously he could just say no whenever I make an attempt to contact, but how do I get him to stick around long enough to know I'm not trying to make some quick cash from what he has worked hard for in his eyes. These are prideful people around here, has anyone else had to deal with this in their investing career? Thanks.

I would try to appeal as a blue-collar worker to him, saying you want to help him out and to see if you can find him a good deal.  Don't use the word investor, just say you are like him only younger.  Just don't try to do something that doesn't work for you.  Don't underestimate having the time/ability to make the deal happen, some older people don't have it and it is worth it to them to sell lower vs not sell at all!

I wouldn't recommend trying to be something you're not, unless you are trying to swindle.

Great salespeople don't have to lie, because they aren't just there to "make some quick cash from what he has worked hard for" they are there to solve problems. So if you can solve this guy's problems, you'll earn his business, if you cant' solve his problem you might be enticed to hide your intentions or motives. Certainly lying might work, but then you learn to rely on it rather than become a better salesperson. slippery slope-

be honest, be direct, don't' get emotional about one deal, if you have to lie about being an investor then that's something you have to reconcile. my advice is to be proud of what you're doing and use your talent to provide a win/win. being an Investor isn't a bad thing. If you don't want to get a reputation for swindling, then be up front and don't swindle. If you can't tell someone you're making a profit to their face, then you'll have to lie to their face.

I've been in sales a long time. Everyone selling is 'proud', you have to allow them to win negotiation, save face, and still provide an excellent service. Your seller isn't' a special type, he is the standard.

you're gonna do great, you'll be nervous as ****, but you'll probably do great.

First, I would consider what your exit strategy is here.  Maybe you should do a buy and hold rental, to match up with what he is used to.  Do something that he's familiar with and can understand.  just my 2 cents

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