Jason (AL) 1 Report post Posted May 12, 2004 Do you guys give em a little info over the phone (to see if they wanna play ball) and then go over the details in person.... OR Don't mention the idea over the phone and give it your best when you meet in person. What would be the best approach when presenting a CA to a seller? *This would be when you're doing a CA, and a CA only.* Any suggestions or advice? Thanks in advance,Jason Share this post Link to post Share on other sites
-Tony- 0 Report post Posted May 13, 2004 I prefer to let them no SOME info higher sell price 12 month term and no cost to them (in a nut shell). Why go to someones house if you don't pre qualify them? Find out first if they are open to terms gas is almost $2 a gallon..... Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted May 13, 2004 Tony, If I had given another 3 seconds of thought, then I wouldn't have posted that. I've now ruined my computer screen, trying to erase my words up in the 1st post. Anyone want a good used laptop computer (some damage)? Bidding starts @ $550. I'll even throw in some "ipaq" thingy for free, to the winner of the bid! Thanks for the insight. Jason Share this post Link to post Share on other sites
-Tony- 0 Report post Posted May 13, 2004 does that ipaq come with a free wallet tooooo.....ah adam make a bid Share this post Link to post Share on other sites
Gary (MO) 0 Report post Posted May 13, 2004 Jason, I'm still a newbie yet to complete my first CA but I've sure made lots of cold calls and I'm willing to share my 2 cents worth... When calling the FRBOs I simply ask them if they would be willing to SELL their rental property. That weeds 'em out pretty quickly - less than 15 seconds. If I get a yes, then I ask them if they'd consider selling on a lease purchase - which then gives me the opportunity to expound on the virtues of L/P vs traditional sale. When calling FSBOs I start with the "would you be willing to sell on a L/P"? and go from there. Again it takes less than 15 seconds to get a yes or no. What really helped me was taking the time to dissect in my mind the pros of a L/P to the cons of a traditional sale from the sellers perspective. Once I "owned" that in my own mind, I was able to better communicate it to the potential seller. It's like if I were to say to you, "Jason it's 40 below out there" and you say "yes, I know", you then go outside and, shivering, you say "man it's COLD out here!" That's what I mean by the difference between knowing something and "owning" it. Guys like MC and Adam and probably option8 could do this in their sleep (heck, Adam probably has!) but we (you and me) have to get where we too could do it in ours. I hope this helps! Gary Share this post Link to post Share on other sites
MichaelC 160 Report post Posted May 13, 2004 Jason, I try and lay it all on the line over the phone. Above market price, no Realtor commission, no closing costs, highest net price at close, etc. There's no use looking at a pretty kitchen and fruit trees if the homeowner isn't interested in my terms and rules. If I go to look at a house it's to see if I want it, not to try and sell the deal. That's been done already. But you already know this and you had a mental lapse and a now busted monitor as a result. (Next time, Jason, try hitting the "edit" button).Find out first if they are open to terms gas is almost $2 a gallon.....I'm payin' $2.06 for regular! BTW, boys: I scored a great deal on a used Palm Pilot with some old Alabama phone numbers, (since erased); and an Ipaq and vinyl wallet with some I Buy Houses in Michigan business cards. Strange dude in military fatigues, said he was from Virginia. I'm willing to flip the deal. Make an offer. Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted May 13, 2004 Alright, This ipaq thing is getting out of hand. First off, Gary thanks for the kind words and you're right, I feel like I've been doing my fair share lately, but still not making a killing with these types of deals. The more hands in the cookie jar, the fewer cookies you get. I’m still learnin… When I present a CA over the phone (Which is just about all of them), I try to give just enough info to get their interest. I don't try to spill the beans all at once because people don't retain much and get turned off quickly when they don't "get it". I had a call with a buyer about our locator program yesterday on speakerphone with my associate listening in and, "got to the point" too fast. The lady then says that she'll run it past her husband and call us back. (Game over) My associate and I looked at each other puzzled because I really didn't give her any information about how the program even worked. I actually had to ask her what she was planning on talking to him about? That was a long awkward moment. Here's one of the most powerful tools that I use. When I call a seller, I allow them to do all of the talking. I continually remind them that they're the one's selling and not me. I only need to hear the numbers and specifics to be able to make a choice on what kind of deal it's going to be. If the numbers look like a CA, then so be it. It usually goes something like this. Well Mr. or Mrs. etc there just isn't enough equity in the property for us to purchase it or take over your payments. If the numbers were closer then we could do something. But, we do have alternatives. We have a program that….(read below) Or...We have a program that helps people get into properties that offers credit repair and pre-screens them for a mortgage. They have to qualify for our program, but rarely have an issue with the price because of the opportunity. The program is very successful at moving properties at top value and can actually put money into the seller’s pocket.That usually gets their attention. I guess just recording a conversation with a seller would be a lot easier than trying to explain it in a post. Although there are some great opinions here, it's just so much clearer hearing it for yourself. And if these materials are not for sale, maybe someone will make them available some day. Hope that helps a little,Adam Share this post Link to post Share on other sites
puls1234 0 Report post Posted May 13, 2004 Jason, As you know all I do are CA's. Let me tell you what I tell them. There are magic words and these are it. "I have tenant buyers dying to get into a home in your area that are willing to pay above market price!" Also Mr. Homeowner in the meantime while they are renting your home they most likely will be improving your property!!!! Some tenant buyers finish basements, put in sprinkler systems, build fire pits, upgrade windows and doors, paint , new carpet etc etc. It is very possible Mr. Homeowner that I can net you sales price $20,000 above what you would net on your own or with a realtor! Now I'd love to hear about your gorgeous home....... Hope this helps! Pete Share this post Link to post Share on other sites
Chris&Kez 0 Report post Posted May 13, 2004 Hi all,good phonecalls, thanks for the info.Jason, I have a deal for you ...if you promise to let me have the laptop for 12 mo.s @ $1 and tell me what an 'ipac' is Seriousley though, I do have a lead in Alabama for you if you would like it. Shoot me an email when you get a chance ok.Kez Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted May 14, 2004 Thanks everyone for their info.Cool stuff. Adam said:Alright, This ipaq thing is getting out of hand. ...if you say so, then I'll try & cut back...but not until I sell this one I got the other day...then I'll hush. Chris&Kez:We'll talk about that computer deal...Jason, I have a deal for you ...if you promise to let me have the laptop for 12 mo.s @ $1 hmmm...sounds like some kinda buying method I've seen somewhere on a real estate investing website. I'll PM you about that Alabama lead. Jason Share this post Link to post Share on other sites
socharming1 0 Report post Posted May 15, 2004 Hi all, I'm have a deal or two under my belt. I've dealt in a SS and a WS. I understand the LP concept. BUT, I have been hearing about CA's on the sight for a while now. Is the concept that I would help a seller sell under a lease option and take the OC as my fee? If yes, I'd need a contract with the seller in order to help him set this up, correct? Would I find this in MC's $97 book? Thanks so much for the help.... P.S. Hi Mike, I'm one of minh's students! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted May 15, 2004 BUT, I have been hearing about CA's on the sight for a while now. Is the concept that I would help a seller sell under a lease option and take the OC as my fee? If yes, I'd need a contract with the seller in order to help him set this up, correct? Would I find this in MC's $97 book?You have the concept correct, socharming1. Instead of being in the middle of the deal, you put it together by giving the homeowner everything they want, (hard for a seller to say no to that ), and keep the option consideration as your fee. In essence, you are paid for your know how.....and paid well.And, yes, the contracts we use are included in my manual, along with all of the other contracts we use, also. Share this post Link to post Share on other sites
