Skip traced the home owner.. now what?

7 Replies

So I found a property that looks distressed. There is no inside pictures but from the outside it looks a bit rough.

It’s 3/2 double.. and listed at 89.9k..

I do think I can talk em down just a little bit more because the surrounding area is relatively low as well.

I’ve skiptraced the owner and got the number..

What is the information I should be looking for?

-why he’s selling?

-what’s his lowest he’s going?

- are the tenants still living there?

- what are the repair costs?

-can I come in and see the home?

I’m not too sure where to start with the phone call... any help will be appreciated.

Feel free to connect with me as well.

@Joe Aquilina

Is it on the market or is it off the market? Skip tracing an on market property doesn't make sense since you will most likely need to work through the agent either way. Before you speak to the owner or agent; make sure you know the neighborhood market and ask them how much it will take to renovate it (you can verify this later on during your walk through).

'Great to speak with you!  I am an investor and I'm trying to purchase another house in this area.' Then, tell them you singled theirs out because it looks like a dump without saying that and ask if they'd be interested in possibly selling.

I'll say this: if you're asking whether or not you should contact the owner and ask why they're selling, then you're most likely going after the wrong property since wholesaling off of the MLS is INCREDIBLY difficult in some markets and the Agents will likely sniff you out and shut you down.

Call them and qualify them. Look for motivation reasons why they would sell if at all, their reason will tell you the level of motivation they have. Build rapport if you can a little bit ask them how long have they lived in the property for. Don't talk price on the phone unless they are adamant about it, even then I wouldn't give an offer over the phone. Talk about the condition of the house, and find out about their timeframe. Their timeframe will tell you a lot if they say "yea I'm looking to sell next month" find out the price they are looking to sell at. But before the call do your due diligence, it was mentioned above drive around the area and see the style of houses there, see if there are any new builds, look up comps, and average purchasing price all that so your not off your game. Sen a mailer to mailing address too for safe measures.