I. Can't. Breathe.

Wholesaling
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I. Can't. Breathe.

Jessica A. Smith
Real Estate Investor · Lake Jackson, TX · Member since 2016 · 149 posts · 49 votes
I need a brown paper bag. I mailed 9 letters yesterday. They were a mix of probates and distressed homeowners. I spent my lunch break handwriting the letters and dropping them off. I get a phone call today from one. Spent 35 mins on phone listening to her remembering her parents and venting about the other children that aren't helping clear the house. She's in town this weekend going through the property. She invited me out to look at the property tomorrow morning. I'm scared senseless, but I did use my psychology degree today! I may throw up ☹
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Most Popular Reply

Mark Holencik
Investor · Coplay, PA · Member since 2015 · 404 posts · 315 votes
10y

Remember that if you walk out of there with no deal you did not lose anything. You had nothing when you went in. If nothing else you will learn a lot.

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  • Christian Sifuentes
    Flipper/Rehabber · Fair Lawn NJ · Member since 2016 · 382 posts · 87 votes
    10y
    Good luck keep us posted!
    0Reply
  • Mark Holencik
    Investor · Coplay, PA · Member since 2015 · 404 posts · 315 votes
    10y

    Remember that if you walk out of there with no deal you did not lose anything. You had nothing when you went in. If nothing else you will learn a lot.

    4Reply
  • Account Closed
    Investor · Princeton, TX · Member since 2014 · 1k+ posts · 1k+ votes
    10y

    @Jessica A. SmithI can introduce you to a person with early onset disorganized schizophrenia.  Consider it a desensitization therapy.  The minor dysfunctions with the people you meet in real estate will soon be easily tolerated. 

    2Reply
  • Tim Lindstrom
    Investor · Douglasville, GA · Member since 2014 · 313 posts · 181 votes
    10y

    I'm excited for you.  I need to get past my fears, and send some letters out.

    0Reply
  • Claire Trammell
    Bakersfield, CA · Member since 2016 · 543 posts · 281 votes
    10y

    @Jessica A. Smithyou'll be a pro before you know it! The more letters you send out and the more calls you take will help ease your fears before you know it.

    I've heard that a bit of fear is always a good thing anyways. ;-)

    Keep us posted! We're excited for you!

    1Reply
  • Don Colagrossi
    Real Estate Agent · Elmhurst, IL · Member since 2016 · 153 posts · 36 votes
    10y

    How cool is that!   9 letters, 1 response.   I am a newbie exploring  the probate myself.   If you don't mind me asking,  what does your letter say?  I do not want to sound unsympathetic toward prospects, but still want to be prepared and professional. Any insight would be great. 

    Thanks, 

    Don Colagrossi 

    0Reply
  • Aaron HanPro Member
    Investor · Long Beach, CA · Member since 2015 · 2 posts · 1 vote
    10y

    Congrats!

    That's an excellent response rate. You must have a great and effective message in your letter.

    Be yourself, be sympathetic. Just remember that it's her first time too - lost of a parent. She most likely will be too emotional to notice your nervousness. 

    1Reply
  • Polar Prutaseranee
    Flipper/Rehabber · Tustin, CA · Member since 2015 · 433 posts · 103 votes
    10y
    You got this. And even if you don't, you have us to walk you along the way.
    1Reply
  • Sarah Ziehr
    Real Estate Broker · Chicago, IL · Member since 2015 · 531 posts · 266 votes
    10y

    Listen listen listen. Let her do all the talking. 

    3Reply
  • Mark Limke
    West Des Moines, IA · Member since 2015 · 100 posts · 36 votes
    10y

    Minimize it. It means nothing. If you met this person in line at the grocery store, or at Starbucks, you wouldn't be nervous. Just listen, and relate to them as a person. Which you are. Walk in and think "I don't give a damn about this, I'm here to have fun and learn something." And if later you end up with a deal, hey, sweet! Like said above: you got this. 

    0Reply
  • Timothy Colman
    Investor · Crawfordville, FL · Member since 2015 · 41 posts · 11 votes
    10y

    Propranolol ;)

    1Reply
  • David Dachtera
    Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
    10y

    @Jessica A. Smith,

    Wow! That's really great!

    Untargetted mailing typically only get a 1% response or so. You can't almost 10%!

    Your lucky day, huh?

    Even if there's no deal to be had, it will still be a great experience, eh?

    David J Dachtera

    "Success is not a destination. Failure is not an event. Success is a process, failure is a choice."
    - DJ Benedict

    0Reply
  • Angie Ritter
    Virginia Beach, VA · Member since 2016 · 24 posts · 5 votes
    10y

    Best of luck to you!!

    0Reply
  • John C.
    Investor · Sierra Madre, CA · Member since 2015 · 12 posts · 4 votes
    10y

    The 1st step is the hardest one, you will look back on this years later and smile :)

    0Reply
  • Rick H.
    Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
    10y

    Oh, hell. It'll work out, 

    Just don't get attached to the results. 

    Remember, you didn't cause their problems. They don't become your problems until and unless you choose to make them yours. The way to keep from buying into them too early is to put your therapy hat on and just ask good questions. 

    Then, be an exceptionally good listener. And take very good notes. 

    Here's the secret question to ask:

    "What do you want to see happen?"

    Then let them talk until their exhausted.

    I started in 1978 and during my first deal I was or actually curled up in a ball trying to put it together. Author John Beck took my call and helped me, for which I will always be eternally grateful.

    Remember then deal you're trying to do and keep it very simple. You're either trying to buy equity or cash flow at a discount.

    1Reply
  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    10y

    @Jessica A. Smith Just be yourself.  This is a learning experience.  You are in the education process, don't have high expectations.  This will not only teach you about the real estate process, it will help you determine if this aspect of real estate is right for you.

    After my first two or three years in the real estate investment arena, I came to the realization that I didn't want to deal with homeowners in any shape or form.  For the last 33 years I have been involved in commercial and investment property only.  It's important to make the correct choice of which area of real estate investing/business interest you, fits your personality, and can be good at.  Sounds like you are reaching outside your comfort zone.  Good for you.  You will be successful!

    Private Mortgage Financing Partners, LLC
    WebsiteView Page
    0Reply
  • Jessica A. Smith
    OP
    Real Estate Investor · Lake Jackson, TX · Member since 2016 · 149 posts · 49 votes
    10y
    Don Colagrossi It's a pretty simple letter. I do acknowledge their lose, and ask if they ever think of selling please call. Shoot me a pm and I'll send to you.
    0Reply
  • Jessica A. Smith
    OP
    Real Estate Investor · Lake Jackson, TX · Member since 2016 · 149 posts · 49 votes
    10y
    Thanks everyone for your vote of confidence! Here's my game plan so far. Please let me know what needs to be added. 1. Meet at property 2. Take pictures of EVERYTHING (with her permission) 3. That's all I have... Questions: 1. I'm not confident in determining repair cost so should I ask to have my GC come out as well? 2. Should I take a contract? ** Got another call last night around 9:30pm. Older gentleman says he got my letter but he doesn't own the house. Their addresses are similar. Gave me the owners name. I'm researching further now.
    1Reply
  • Rod HanksBusiness Member
    Insurance Agent · Dallas, TX · Member since 2013 · 743 posts · 462 votes
    10y
    Wow! 9 letters and 2 calls??? You need to get in the direct marketing business. Congratulations and keep us posted.
    Rod Hanks Insurance4.9153 Reviews
    WebsiteView Page
    0Reply
  • Account Closed
    Vendor · Ashburn, VA · Member since 2014 · 72 posts · 37 votes
    10y
    Jessica A. Smith Did you go?
    0Reply
  • Jessica A. Smith
    OP
    Real Estate Investor · Lake Jackson, TX · Member since 2016 · 149 posts · 49 votes
    10y
    *Updates* Working with her schedule because she had to reschedule. Fingers crossed I can go out this upcoming weekend. No more call backs so far. When have you guys restarted you mailings? Every 30-60 days?
    0Reply
  • Jessica A. Smith
    OP
    Real Estate Investor · Lake Jackson, TX · Member since 2016 · 149 posts · 49 votes
    10y

    It's update time! 

    Not sure who all is still with me, but I promised updates so here they are. 

    Recap: 

    I"m new.

    I mailed out 9 letters and got a total of 3 phone calls.

    1st caller flaked when it was time to view the property 

    2nd caller told me he didn't own the property, but gave me the name of who did. (I'm still researching)

    3rd caller *happened yesterday* seems interested. Meet me at the property today on my lunch break. Would not give me a number of what she would like to get the property for. IMO it's a tear down. Nice size lot. According to county website it's worth 39K. I've attached pics for review.

    Told her I would get back after reviewing numbers. NOW I'M STUCK. Since I'm new I have no idea how to determine repair cost and such. My plan is to get an estimate of tear down cost and go from there since I had intended on wholesaling. Homes in this area sell for around 109K. 

    Thats all I have thus far...

    1Reply
  • Matthew Swisshelm
    Bellevue, NE · Member since 2015 · 134 posts · 28 votes
    10y

    @Jessica A. Smith - Fear is good! It means you're growing and moving upwards in life. Keep becoming afraid and eventually you will be doing things you would have never dreamed of!

    Good Luck Jessica! Keep us posted.

    0Reply
  • Stefanie Perron
    Sarasota, FL · Member since 2015 · 7 posts · 2 votes
    10y

    @Jessica A. Smith That first post "I think I'm going to throw up" sounds like something I would say.  Although I PROBABLY wouldn't have been able to answer the phone when it rang!!! ha

    I'm going to private message you, if you don't mind.  I have some questions for ya.

    Thanks for keeping us posted

    0Reply
  • Kendale Sheran
    Renter · La Habra, CA · Member since 2009 · 13 posts · 2 votes
    10y

    Good Luck Jessica! 

    0Reply
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