Hello everyone.
As a guy who owns yellow-letters and sends a ton of mail for myself the only two lists that make sense are Free and Clears which are owners with 40% equity or greater or Pre-foreclosures which include 60|90 day lates NOD and TS.
Everyone else fits within those two groups.. Certainly Absentee owners are good, however if I were to market to them I would market to Active for rents first.. They're on craigslist and in the classified section and they give us their telephone numbers.
The cold call script is as follows...
Hi, I’m looking for _____ … Hi ______ … my name is _______ with I Buy Houses.
I noticed that you have a house for rent and I buy rentals… actually all of the time… and being a landlord myself… I know how frustrating… the rental business can be…
1. Have you thought about… selling your rental… before you spend the time and money to fix it up and re-rent it? (You have) Terrific! / Really!
2. I buy rentals… vacant or occupied… would there be a… good time… to come out and talk about whether… you want to sell… your rental? (There isn’t) Outstanding
If they don’t want to sell
3. If you don’t mind I am going to be sending you my card and checking back with you from time to time, if that is okay with you? (It is) Great
If they do want to discuss selling
4. I buy rentals just like your all of the time, and I have found that if the seller is willing… we can come up with a solution that works best for both of us, is that okay with you? (Yes) outstanding
5. Sometimes the only way we can buy the rental we look at is to take over the debt and pay you your equity, That means the loan will stay in your name until its sold, assumed or paid off. Is that a problem? ⯠Yes ⯠No
6. Sometimes even buy the house under a lease option…Is that a problem? ⯠Yes ⯠No
7. So if we can pay you your equity, guarantee and make your payments and be responsible for all repairs you will sell the home to us, right? ⯠Yes ⯠No
8. What time today would be better for you for me to come out and talk with you ___________ or ______________? (___) Terrific
9. Before I come out… there are just a few more questions… I need to ask about your house, is that okay? (It is) outstanding
10. Is the home still ⯠Vacant or is it now ⯠Occupied? Occupant Name?
11. How much do you collect in rent? __________
12. _____ Bedrooms ______ Baths
13. How many Square Feet? ________________
14. Size of the Garage? ____________________
15. How did you happen to own the home?
16. What Kind of repairs does it need?
17. ⯠Carpet ⯠Paint ⯠Roof ⯠Cabinets ⯠Electrical ⯠Plumbing ⯠Plaster ⯠Sheet Rock ⯠Cooler ⯠Heater ⯠Air Conditioner â¯Window ⯠Landscaping ⯠Clean-up ⯠______
18. What do you think the repair cost will be?____________
19. What do you think the house is worth? __________________
20. Is that ⯠Fixed–Up or ⯠‘As Is’
21. How did you come up with that Price?
22. How soon would you like to be sold? ____Days _________Date
23. Is there a Mortgage on the house? ⯠Yes ⯠No
24. What is/are the balance? 1st ________ 2nd ________3rd________
25. Are you in Foreclosure? ⯠Yes ⯠No ⯠Notice of Default or ⯠Trustee Sale...Sale Date ______ Arrearage Amount __________
26. One last thing…. When I come out… it is important…that all of the decision makers be there…. so I can come to an agreement to buy your house… Will all of the decision makers be there for the appointment? (if all of them are not here don’t go)
27. Well, ____________ I look forward in meeting you at __________…
The code violations are great however pulling the FandC is so easy that I dont recommend it. This business is all about numbers... More mail more calls more contracts more cash...
Congrats you everyone success
Micahel
