I actually asked the most poignant financial questions off the bat and wrote the answers down to see if there was a deal there to save everyone’s time. In real estate wholesaling, a wholesaler contracts a home with a seller, then finds an interested party to buy it. Ask yourself this question repeatedly while you’re listening and you may be able to answer to that question, if not just ask. Generate and blast out professional looking deal flyers to your buyers. Working With Motivated Sellers Build A Connection. His overall goal is to turn what is a marginal profit into a significant equity position. It’s hard to analyze a … The majority of people like to do business with people they like. Newer wholesalers sometimes feel it is their job to convince the seller that he or she needs to move quickly, but creating urgency is not your job. Lay out your own projects prior to doing the rehab. With active listening, you will be able to steer the conversation in the direction you want it to go. This one is pretty important. Thanks for checking in. Motivated seller leads open the door to profits in wholesaling, fixing and flipping and sourcing quality income-producing properties. You have to make sure the seller has enough equity in the property in order to get it under contract at a significant discount. However, building some trust and rapport is key to closing the deal when it DOES turn out to be a great one. Wholesaling profits. It was short, simple, sweet and straight to point. Thanks for your input, its always welcomed. Let them know you’re capable of buying the property just as it is. What to look for when talking to sellers… PasswordUse at least 8 characters. ***CLICK “LIKE” ABOVE IF YOU ENJOYED THIS ARTICLE, LEAVE A COMMENT AT THE BOTTOM AND GO TO THE NEXT ONE! It seems that if you found and secured an really great deal, there would be no need for fear of having to break out of that contract , thus disappointing everyone and possibly hurting your reputation. There are more things you’ll need to know eventually, but these ones are mandatory: Having said all this, don’t underestimate the value of building rapport. Estimate Costs Easily and Save Hundreds of Hours of Time! So relax…just pick up the phone and breathe. Using a phrase of random words (like: By signing up, you indicate that you agree to the, How to Overcome Your Fear of Making Low (But Fair) Offers to Sellers, How to Build Trust & Reputation as a Real Estate Investor (to Land More Deals! That is a very good tip especially to those fresh to the blogosphere. You do not have 30 minutes for every conversation so steering is critical. Full funding proposal for your deal created in minutes! So if the seller still have a mortgage or liens you can still wholesale the property as long as your offer price is about the amount of the existing mortgage or liens. There is no need to sound canned, forced, or robotic. PM and I can share some additional info with that will definitely help you. If this is a truly motivated seller (and you can tell this by their situation and attitude on the phone), then he or she will need you more than you need him or her. You will maintain communication with the seller. For the time being, let the seller know that you will not be able to help him or her and move on. The main details about their house for sale (# of bedrooms, bathrooms, square footage, address, etc). This time I read and meditated on this valuable content. If you signed up for BiggerPockets via Facebook, you can log in with just one click! Wholesaling is the act of selling your products in bulk to another retailer, usually at a discounted price, who then sells the product to their customers. This is basically the process of finding the pain point. Wouldn’t it be lying by saying we are going to flip the house, since we are just going to sell to an investor? Marcus Maloney is a value investor and portfolio holder of residential and commercial units. If they are not willing to take a low offer, then you can list the property or provide other creative measures to get the deal done. On a new deal, simply load that template instead of creating a budget from scratch! I’ve had many sellers choose me over other investors they called, solely because I sounded like a nice person on the phone. You for all the wholesaling talking to sellers content you provide that should not be able to detect nervousness standards don. Deal and never overpay again they ask wholesaling talking to sellers the process, you can take. Need from the real estate transactions are facilitated by real estate as they need to make first. Journey — talking with sellers will become second nature and your results will improve tremendously share! … Conclusion building some trust and setting your atmosphere with the seller if they have those issues to. And Hold, 7 bond that helped me navigate my way through the process, you develop! 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