All Forum Posts by: John Horner

Somebody is going to have the loan on their records (and included in their debt to income ratio), either you or her.  You could have her "rent" it to you for $900/month.  After a year of rent history the bank should include that as income towards her next loan.  

@Ben G. , I actually feel the opposite.  The more information the answering service can get for me, the less I have to do on the back end.  If I have everything I need up front I can decide the sellers motivation pretty quickly.  If I don't get everything I need I may need to spend 10 minutes of my time calling them myself.  When you have a 5,000 pc mailer and 100-150 ppl are calling at the same time, the more automation the better for me.

These are all worded differently in my script, but these are the basic questions we ask.

Name?

Phone?

Address?

Why are you interested in selling?

Property Condition?

For an cash offer, what would you sell for?

Is there a mortgage? How much?

How soon would you like to close?

I guess I think the opposite, you can use any device to access it in the cloud, the other way you have to have YOUR laptop with you.  For me, my iPhone is the one device I always have on me, I never take my laptop to properties with me.  Also, don't laptops use batteries too? :)

 If you're going on 20 appointments to get a contract maybe you could pre-screen the client better to save yourself time.  I used to go on appointments out of curiosity or hopes that it could be an awesome deal, after a few months of this I got sick of me spending an hour with them just for them to throw out a number above retail.  Now I get this info over the phone.  Some Guru's preach you should go on every deal and convince them to sell.  During one of our large mailers I would need a few full-time employees to go meet every lead that comes in.

I'm with @Tim G. , we don't use appointments as a metric because we screen for motivation and get a ballpark price range before we would ever go meet the seller.

We are at 28 leads per deal right now.  

We contract 90% of the deals we go visit because of our qualifications.  

We close 90% of deals we contract.  

I am wondering what criteria everyone uses as a lead.  I use every call and email, regardless of the info I get.  I may have someone leave an address but phone number doesn't work, or may leave name and no address but email is in error.  Because of our website marketing I get submissions for properties 200 miles outside of my buying area.  Do you folks count these, or only people you are able to get ALL the info from and have a chance to close?

Curious what your extensive marketing experience is?  You had 24 of 29 deals dumped in your lap, so you found a whole 5 deals for a single buyer in the past few years.  Not sure I would qualify that as "extensive".  

I would think an marketer with "extensive" experience would be able to close a deal within 6 months, but you haven't been able to.

Sure seems to me like something BIG is missing here.  

I think also depends on what the returns are in other areas you are close to.  For instance if this is 9% return, could you cash out the $70k equity you have and buy a property or use as down payment on a property and get 20%-30% Cash on Cash return?

Here is a link on how to get started: https://support.google.com/maps/answer/62843?hl=en

Google maps actually already has a great way to do this with a lot less manual effort.  You can great your own custom google maps called "my places", and put pins on locations and add all of the information into the text boxes.  This way it is always available if you have the internet and it is dynamic!  You can save the map and make it private or public.

Hope this helps!

@Mike Hepburn , You answered everyone here but me, how are you going to show people how to remote wholesale in Columbus when you've been trying to close a deal here for 6 months without success?

You say you "Specialize in Long Distance Flipping", doesn't sound too accurate.

I am also curious about your previous experiences, besides all the expensive seminars and the 5 deals you've done "over the years".  What is your background?

I think many of us are skeptical because you don't sound too experienced, maybe if you explained where you came from and some other deals you've done you would gain some credibility.