So I recieved my very 1st call back today. What should I do now?

So I recieved my very 1st call back today. What should I do now?

Wholesaler/ Investor · Houston, TX · Member since 2014 · 491 posts · 113 votes

Hello BP,

I hope everyone is having a wonderful evening.

So about an hour ago while sitting at work (which I'm currently still here now) I received my very first response to my mailing campaign to absentee owners with 100% equity.  I don't think he is that motivated though. 

He called and put his son on the phone due to the fact he did not know English.  Unfortunately, I didn't have my sheet of questions so I had to wing it.  i told him that i was an investor in the area and looking to purchase a few homes in the surrounding neighborhoods. 

It's about 980sf 2 bed 1 1/2 bath on a 4,200 sf lot.  It's currently rented with tenants.  The inside of the house was remodeled he said about three years ago.  Per the seller, the roof is 5 years old and only has siding issues on the outside of the house.  I asked him what was going on and he said "Oh, I'm just trying to see what I could get for it".  Doesn't really sound motivated at all. 

So I'm curious what I should do since this is my very first convo with a seller?  I told him that I would do a little research on the house tonight and give him an offer tomorrow.  I do not know why I said that, it kind of just came out. 

Any advice would be great!

Thanks a lot.

0Reply
12 views

2 Replies

Jump to latestLatest
  • Wholesaler, Investor · Portland, OR · Member since 2015 · 117 posts · 38 votes
    10y

    I would do what you said. Do your research and figure out what you think you can afford to give him for the property. Then just as you said call him back tomorrow and make him an offer. I'm sure it will be lower than what he is thinking (it almost always is) but you can explain to him if necessary that as an investor you have to buy below market value because you are going to put equity into the home and try to sell it. Again be honest, the worst thing that will happen is he will say no. Then you just check back in with him 3-6 months from now and see if his situation has changed. That is what I do.

    You get a lot of people who just want to see what they can get for a property, comes with the territory.

    Good luck!

  • Wholesaler/ Investor · Houston, TX · Member since 2014 · 491 posts · 113 votes
    10y

    Hey @Mark Nelson

    Thanks a lot for your response.  That's exactly what I will do then.  I know it's not a number he will like but like you said, he can only say no. 

    Thanks again!

Join the conversationCreate a free account to reply, vote on answers and follow this thread.