All Forum Posts by: Steven Leigh

@Tiese C. I'm not sure you've really blown the deal. Follow up with her however you promised you would, but do some "pulling away" when you talk to her, as I mentioned above. Then don't chase her. Follow up 30 days later or so with a phone call, but nothing too pushy or frequent.

You may just find that she has some time to work through her emotions and all of a sudden she calls you and wants to work with you. Happens all the time.

Here's an interesting pattern I've seen lately:

Seller responds to my letter and I talk to them about their property, but they want a price that is either retail or ABOVE retail. I tell them we are not really in the ball park, and my offer will be way too low if they're looking to get that kind of price. I tell them I'm not their best option, and that they should fix it up a bit and list it with a realtor. In a few months they will have it sold and they might get their price. They are a little surprised I won't even make an offer but they thank me and we hang up. (I really don't want to make an offer because I don't want to be the guy who bursts their bubble that they are WAY overpriced and then I want even more of a discount.)

But what has happened twice this week is this type of seller calls me back. And then they ask something like, "I was just wondering what kind of price you WOULD be willing to pay. I know you said it's low, but I promise I won't be insulted." etc.

What I realized is that I set myself up as someone who is going to tell it to them straight and has their interests in mind. They figure anyone who isn't going to just blurt out a low offer is probably a straight shooter. 

So set yourself up as that kind of person. Pull away a little and tell this seller something like, "It seems like you might not be ready to sell yet. If you decide you're serious and you like what I have to offer with closing quickly and no agent commissions, give me a call." You'd be surprised the kind of impact that has when they are expecting you to keep trying to CONVINCE them to sell you their house for a discount.

(Sorry I've written another novel.)

@Billy Baumann How was the REIA meeting?

@Grace Sunshine Do I understand you correctly that with all of this automation you still haven't done a deal at all so far? Or you just haven't done one from your direct mail?

I'm all for automation, but it seems like you've skipped learning the process yourself and gone straight into automation, which doesn't seem to be working well for you. Did you learn this through a coaching program or something? Who's was it?

Plenty of free and paid options here. Work your way through the list and just keep repeating:

http://retipster.com/50-quick-actions-you-can-do-today-to-find-motivated-sellers/

I should really get Seth to pay me a commission for every time I share this link, but it's one of the most useful and comprehensive on the top of building a buyers list. Work your way through this and then start repeating it over again: http://retipster.com/buyerslist1/

Also, don't overlook the value of connecting with realtors who work with cash buyer investors. Their investors tend to pay more than the average investor for deals, because they are used to looking on the MLS for properties. So instead of 70% of ARV or lower that seasoned investors want, some of these cash buyers think 85% is a SMOKING DEAL! :) Oh, and make sure you tell the realtor they will get their FULL COMMISSION on any sales, even though your deals are off-market. They can just add their commission to your price when they market it to their buyers.

Do some searching on "Virtual Wholesaling" both here and on Google. You should find some good stuff. It's definitely possible, but you will want to get a solid local wholesaling business going first so you can make as many mistakes as possible in person and learn from those mistakes. 

Then you will generally need some "boots on the ground" people in the area that you can trust. These could even be realtors, property managers, etc. but you might want more than one to give you multiple perspectives.

There are definitely those who make it work, but learn the ins and outs of wholesaling first. You might even consider virtual wholesaling in a town that's an hour away or so at first, so you can practice working remotely but also double-check things in person for the first few deals. Just a thought.

@Account Closed when I tested it last night it made me wait about 20 seconds or more on each screen. I know this is usually a sales tactic. Does it still do that when you are a subscriber or is it quicker?

A lot of you are assuming the OP is trying to skirt around the realtor and not pay commissions. I read this question as whether you can deal directly with the seller and then involve the realtor to finish the deal. I've never done it, but as @Michaela G. suggested, as long as you're keeping the realtor in the deal I think you're probably okay.

I can understand the desire to speak directly with the seller as making offers with realtors can be a real pain. Still, just make absolutely sure you work with the realtor and get them their full commission. Do not go behind their back or you will ruin your reputation and could end up getting fined or even charged.

Purchase history, liens, and taxes can usually be found on the county website. Maybe you already know that part, but it's worth noting for other beginners.

Do a google search for "your county property search" or "your county tax appraiser" and you will usually find it.

As for the other info, @Account Closed gave you some good leads. I've been considering using beenverified.com ever since he mentioned it in another thread.

Have a great time at the REIA meeting and don't be too much of a sponge. Introduce yourself to as many people as possible and tell them you are just starting out.

Also, just a note to go ahead and ignore all the negative nancies who will try to convince you that wholesaling doesn't work, that it's illegal, that other strategies are much better, etc. You will get a LOT of that from REIA folks. One, they are afraid you will snap up all the good deals, and two, a lot of the older guys are set in their ways and think theirs is the only way to do things.