Dallas, TX · Member since 2010 · 22 posts · 1 vote
I haven't been successful finding the answer here using the search feature so I thought I would just ask. How do you convince prospects to sell you their homes via subject to? I've had success finding leads but can't close the deal. It seems that I'm lacking the right words to convince then they can trust me even when I discuss ways that would protect them. I'm honest about how the transaction works and they lose interest at that point. One might say they aren't motivates enough to sell, but I'm a realist and think it could be my lack of skills presenting well enough in this area. What do you folks say when discussing subject to's to prospects?
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
15y
It starts with screening properly. If you are trying to get unmotivated sellers to sell subject-to you are generally wasting your time.
You also need to be polished and seem trustworthy. Having professional websites, cards, and presentation material helps. Going on some presentations with fellow investors and seeing how they interact with sellers is the best way to learn. You need to know how to answer objections that come up and be spot-on with answers to common questions.
I wrote about some of this on what Josh re-categorized as an "ebook" here:
Property Management · Memphis, TN · Member since 2009 · 667 posts · 362 votes
15y
Melinda, you can also google Sud2deals.com. I bought a sub2 guide from William Tingle. I want to say back in 1999 he had taken over 100 or more homes. The guide answer just about every question you would have and it gives you differ contracts and so on.
Property Management · Memphis, TN · Member since 2009 · 667 posts · 362 votes
15y
Yes, it gave me the confidence that I needed at the time. It also gave me differ scenarios dealing with different situations, people, line upon line of how and what to say. Almost any and everything you will need to know is in the guide from contracts, deed forms, assignment form, etc. You will just need to change language for your state and name.
Dallas, TX · Member since 2010 · 22 posts · 1 vote
15y
Thanks, James. I took a look at William Tingle's website. There was pretty good information, but there were quite a few links that were really outdated (no longer working or no longer maintained). It looked like a lot of the same format as the Ron Legrand material that I have.
I guess I'm just getting stuck since I'm having a hard time feeling "polished" in my presentation and answering their objections in a way that shows that I'm trustworthy. I like Bryan's ideas of having presentation materials. I already have cards, but I'm lacking professional looking presentation materials.
I think what I really need is to find someone that I can shadow that is an expert in this area. If you guys have any ideas on mentors in this area, I would appreciate it. I'm in the DFW Texas area.
Wholesaler · Dallas, TX · Member since 2011 · 294 posts · 152 votes
15y
There are several REI associations in Dallas and they would all make a great starting point for locating a mentor. I personally attend the Texas Real Estate Investor Cirlce meetings and I've met very knowledgable investors there. A quick google search for TREIC should lead you to the groups info. Hope to see you at the next meeting.
Remember that you'll need to provide some kind of benefit and or service to your proposed mentor for his or her time and knowledge.