Calling Fsbos

[Adam King (MI) 1]

Question from an email,

 

Hi I was curious, when you call ads from the paper do you just ask people straight out "want to sell on a lease purchase"?, or do you use special language, like beating around the bush?

 

Note: The example I am using here is to get to a CA not an SLO. Just keep that in mind. An SLO could easily be found out half way through. I'm sure you can see that below where the conversation would change directions.

 

Answer,

I don't use any special language I just ask questions to see what kind (if any) deal I can get. Most of the time people are cool with you if you have a good attitude and DON'T beat around the bush. I think I said this in an earlier post, but people are getting smarter to "new investors". If you call me I can tell you're an investor even if you don't disclose it until the last word. So you better come out with it.

 

Here's an example.

 

Hi, I'm calling about the house. Is it still available?

Yes.

Well I'm an investor and I'm just looking to see if you're looking for a quick sale or if you think you have that covered?

No we would like to sell fast but we're not in too much of a hurry. (Slight motivation. Let's keep going to find out more.)

Well let me ask you this then, how much are you asking and what is it worth?

It's worth $100K and we're asking $95K.

(Education time)

Well, that's obviously not enough for me to purchase it cash or even on terms. Just so you are prepared for it, I'll give you some pointers if another investor calls. Most investors will pay up to 70-75% cash and up to 80-85% terms. So that's what you're mostly looking at from another investor if they call.

Ah. Thanks man..

I will leave you with one thing though; I do have a program that I use (if you become motivated enough to do terms) that will get you top price for your home. It's called a cooperative assignment and we usually use it when we have an overflow of lease option prospects that we pre-qualify but don't have homes for them.

Again, just hang on to my phone number or better yet I can call you back in a few weeks to see how you're doing. Would you be interested in that?

No, we're cool. (DONE)

Yes, that would be great. (POSSIBLE CA)

Regards,

Adam

[IStealHouses 0]

Thanks Adam that was a big help. I have heard that saying you are an investor right off the bat will scare some people away, but your wording dosnt leave room for a complaint which is good!

 

Do you get them to agree over the phone to a deal before you go meet them, or do you pre-pre quality over the phone and then ask to meet with them and discuss the real terms and options in person?

[Adam King (MI) 1]

They MUST agree over the phone before I meet them. I usually meet people just to go over a short description and sign agreements. If they say "I have to talk to my spouse" after I meet them then I am the only one to blame for not properly pre-qualifying them.

 

Get them to show enough interest to meet you face to face and you'll get a signed contract 9 out of 10 times (or more). Just know your stuff and don't be intimidated. Be yourself.

Regards,

Adam