All Forum Posts by: William Johnson

Here are some questions that I have:

These are about negotiation with real estate and specifically is about receiving phone calls from advertising for buying homes. okay, so first question

1. Is it better to ask the buyer how much they think their house is worth and then ask them what would be the minimum that they would accept if I was making an all-cash transaction and close on the day of their choice or is it better to get all of their information and then call them back with a concret offer after verifying how much their house is worth and figuring out exactly how much I will pay for it considering the repairs that have to be done.

Or, is it better to do a combination of those two things

2. Do you believe that the attitude that I have the fact that I am not very aggressive and sometimes not very confident of myself because I have yet to close my first transaction since I started this new business, do you believe that that is an important part in closing the transaction. I am wondering if these mentalities are making it impossible to close deals.

I have not closed one yet, and a couple of my mentors are calling me out saying that I have been doing this for long enough now that I should have closed something by now. I believe that I need to stop excuse making. I overthink things and I don't spend enough time interacting with sellers.

3. What can I concretely do to develop the closer's mindset, in conjunction with spending the majority of my time making offers on houses. To become a doer rather than a sayer or a thinker?

One thing I have thought about is to begin posting transcripts of my negotiations and audio bits of me talking to sellers and getting the feedback of the community.

@Gabriel Caron 

I know a couple of investors from Montreal who invest in Florida.  If you would like I could try to set up a meeting.

William

@Taylor Jennings Thank you so much for this!  I did modify quite a few things for my own personal use (only after cloning it of course). I added a field where I could put down last contacted date and then I used some sort of script to add 30 days to that and put it into another field for next contact date so that I could sort the contacts that were not hot by next contact date for my followups.

Welcome Jimmy I am active in Montreal and this site is hands down the best there is.  PM me if you would like to do coffee. 

Thank you Brandon for the answer.  The 30 percent was just an assumption on my part of the down payment that banks ask for on multi family dwellings. 

Philippe I know  that you can get good deals here but you have to network like a mad man! You also need to be persistently investigating deals and making offers. PM me if you want to discuss further. 

@Brandon Hicks

Did you use an equity loan on your duplexes to come up with the majority of the down payment (30%) and then chip in 1500 from your savings?  

 @Wendell De Guzman: Thank you! That makes absolute sense. As a followup question, if the person didn't have very much skin in the game how would you structure the JV in terms of profit sharing?

Since it is a rental property you need to look at it as wholesaling an income stream. As such you really need to look at their financial records for the last few years. Can you post the numbers this thread?  If this property is by some chance in the Niagara area I may be able to refer you to a couple of buyers. I am originally from the area. 

I am going to continue to pursue my business goals.  I have been working at my business, adjusting and refining my strategy along the way.  I still have not achieved real success and I feel as though there is some invisible barrier that is blocking me. My goal is to continue moving forward until I blow through whatever it is that is blocking me and score my first moneymaking deal. 

I also am going to began making offers and working with multi family investors.  My ultimate goal is to personally own 50 doors by 2020.

My fiancée just have birth to my fourth child so I am keeping it simple this year.  I am just making sure that I stick with the real estate business and that I don't back down despite the fear of constantly being outside of my comfort zone and bring regularly sleep deprived. 

Also I am going to learn how to be happy with what I have now in life while maintaining my ambition to achieve more.