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Wholesaling

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Beth Anderson
Pro Member
  • Geauga County, OH
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What do I say if someone responds to my letter?

Beth Anderson
Pro Member
  • Geauga County, OH
Posted Apr 18 2024, 19:05

Just sent the first 17 letters to the owners of distressed properties on my long list. Feels good to have finally taken action!! 

But now what??? What do I say when someone finally calls or emails? I have an idea, but I'm hoping for details. Please give me some resources of videos, books, blogs, etc. What are the next steps?

A little context: I am searching for our first deal. We are looking for a house hack for my family as an entry into real estate investment. If someone responds to my letters, and we can't use the place ourselves, I'd like to wholesale it if I can find a buyer.

Thank you!

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Jay Hinrichs#1 All Forums Contributor
  • Real Estate Broker
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs#1 All Forums Contributor
  • Real Estate Broker
  • Lake Oswego OR Summerlin, NV
Replied Apr 18 2024, 19:14

just tell the truth. your new to this and your looking to buy a home to move into with your family.

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David Ramirez
  • Wholesaler
  • Tampa, FL
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David Ramirez
  • Wholesaler
  • Tampa, FL
Replied Apr 19 2024, 07:01

Hey @Beth Anderson

I wouldn't complicate it too much since you are just starting. Wholesaling is mostly about marketing and sales, so it will take a lot of practice for you to feel comfortable taking control of a conversation and closing a sale. I would keep it simple: just try to find out the reason for selling and the property's condition. If you can find some common ground, continue building on that to establish rapport. Only 20% of the conversation should be about the actual property and its condition. 

Good luck! 

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28
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Beth Anderson
Pro Member
  • Geauga County, OH
13
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28
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Beth Anderson
Pro Member
  • Geauga County, OH
Replied Apr 21 2024, 19:39
Quote from @David Ramirez:

Hey @Beth Anderson

I wouldn't complicate it too much since you are just starting. Wholesaling is mostly about marketing and sales, so it will take a lot of practice for you to feel comfortable taking control of a conversation and closing a sale. I would keep it simple: just try to find out the reason for selling and the property's condition. If you can find some common ground, continue building on that to establish rapport. Only 20% of the conversation should be about the actual property and its condition. 

Good luck! 


 Thank you, I was thinking along those lines. Do you have a basic set of questions that help you narrow in on what the seller needs and wants?

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David Ramirez
  • Wholesaler
  • Tampa, FL
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David Ramirez
  • Wholesaler
  • Tampa, FL
Replied Apr 22 2024, 07:56
Quote from @Beth Anderson:
Quote from @David Ramirez:

Hey @Beth Anderson

I wouldn't complicate it too much since you are just starting. Wholesaling is mostly about marketing and sales, so it will take a lot of practice for you to feel comfortable taking control of a conversation and closing a sale. I would keep it simple: just try to find out the reason for selling and the property's condition. If you can find some common ground, continue building on that to establish rapport. Only 20% of the conversation should be about the actual property and its condition. 

Good luck! 


 Thank you, I was thinking along those lines. Do you have a basic set of questions that help you narrow in on what the seller needs and wants?

Open-ended questions such as: 

What got you looking to sell?
How long have you been thinking about selling? 
What will selling do for you? 
What are your expectations from the sale of your house?
What are you looking for in a buyer? 


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William Naber
Pro Member
  • Missouri
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William Naber
Pro Member
  • Missouri
Replied Apr 23 2024, 04:30

@Beth Anderson tell the seller you are the end buyer.  If you decide the property isn't good for you for house hacking double the close the property.  You will still be listed as the end buyer, and you will technically own the property, you just won't own it for very long.

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Beth Anderson
Pro Member
  • Geauga County, OH
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28
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Beth Anderson
Pro Member
  • Geauga County, OH
Replied Apr 23 2024, 12:18
Quote from @David Ramirez:
Quote from @Beth Anderson:
Quote from @David Ramirez:

Hey @Beth Anderson

I wouldn't complicate it too much since you are just starting. Wholesaling is mostly about marketing and sales, so it will take a lot of practice for you to feel comfortable taking control of a conversation and closing a sale. I would keep it simple: just try to find out the reason for selling and the property's condition. If you can find some common ground, continue building on that to establish rapport. Only 20% of the conversation should be about the actual property and its condition. 

Good luck! 


 Thank you, I was thinking along those lines. Do you have a basic set of questions that help you narrow in on what the seller needs and wants?

Open-ended questions such as: 

What got you looking to sell?
How long have you been thinking about selling? 
What will selling do for you? 
What are your expectations from the sale of your house?
What are you looking for in a buyer? 



 Thank you! Very practical and helpful!