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speedingpenguin

10 most frequently asked questions / typical rejections to a lease pur

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Hey everyone!

 

I've been spinning my tires since closing deal #1 but I'm getting back in to the groove of things finally and things are falling back in to place. (Funny how your results are a direct correlation to the amount of action you take, huh! I'm learning!) :lol:

 

Part of what I've been doing over the last 2 days is building a squeeze page I can direct my craigslist marketing and other online marketing to where sellers can opt-in for a free e-book on "Learn to sell your house for full market value in as little as 2 weeks without paying commissions or closing costs in todays market" (obviously targeting CA's) as well as access to a video about selling your house with a lease purchase.

 

My main goal is to get a first name, an email address, and a phone number. At the same time, I'd like to be educating these potential sellers about what a lease-purchase is and how they can benefit from it. My hope is that if I can kill off any of the common, mis-informed homeowner objections that might cause them to think it wouldn't work for them before (or after, if I send them to someone I speak with first) speaking with them on the phone about their particular property, I'll have an easier time on the phone because they won't be as guarded or uneasy.

 

Obviously a lease purchase isn't going to work for everyone, but the benefits to the ones that it COULD work for are strong enough that by explaining the process clearly and addressing the things that they MIGHT use as objections I don't think a CA or a SLO would be a difficult sell by any stretch.

 

What do you guys think would be the top 10 questions or objections (to be addressed as Q&A) a seller might have would be?

 

Maybe if they're worried they can't buy their next home unless they sell their current home, or if their house is already listed with a Realtor, etc. etc. etc.

 

I don't think I've seen anyone use a squeeze page for finding sellers for a lease purchase, and I'm having a difficult time finding enough FSBO's and FRBO's to call and my marketing budget is slim right now. I'm going to target these ads that will go to the video squeeze page to sellers who's listing expired or their house has been listed for a long time, landlords who have had problem tenants or who are tired of managing their properties, and homeowners trying to sell FSBO but aren't getting any action or offers.

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(Funny how your results are a direct correlation to the amount of action you take, huh! I'm learning!)
Ain't that peculiar :lol:

 

I like your idea and I think all marketing is worth a try. Like they say in Hollywood, all publicity is good publicity, no matter how bad it is. So it goes to reason that anything you can do to make yourself known to homeowners is a plus. As for questions that homeowners seem to be concerned with on a regular basis. Off the top of my head:

 

1) Can I get a mortgage if I have one on this house?

2) What if the tenant/buyer trashes the place?

3) What if they don't pay the rent?

4) What if they decide not to buy?

5) How do you get paid?

6) Must we set the purchase price in advance?

7) How much rent can I charge?

 

That's all I can quickly think of for now. I'll be back with others, as I'm sure some other members will, also.

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Here are a few more...

 

-How does it work exactly?

-Do I get a deposit?

-What's the difference if I manage my property or you do?

-How long does it take to find a tenant/buyer?

-How long have you been doing this?

-Do you have any references?

-Don't you need to look at the house first?

-What if I find a buyer?

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And the hits keep coming......

 

How much can I change on your contracts?

Why can't you just call me back when you find someone who wants my house?

How do I know that you're not just stealing my house?

Well, if you're going to make $xxxx, then why can't I just do it myself?

 

Darin

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Here are a few more...

 

-How does it work exactly?

-Do I get a deposit?

-What's the difference if I manage my property or you do?

-How long does it take to find a tenant/buyer?

-How long have you been doing this?

-Do you have any references?

-Don't you need to look at the house first?

-What if I find a buyer?

 

 

So when the questions come up about your experience(or lack of it), how do you handle it if you have none? It isn't too calming to hear "Oh, well your the 1st Mr. Seller"

 

Ray

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Hey Ray-

 

Well, everyone started with their 1st seller. And yes it is harder out of the blocks with no experience, but it does get easier as you go. So, before you get experience get book smart. Read up on what you do and ask question about things that are not clear. Get the manual, get a mentor and get there faster. Then, you just have to put yourself out there. Yikes! Take each call and each seller as far as you can in the conversation or the deal. Have the attitude that you don't care if you get the deal or not. If you mess up who cares nothing lost. If you get a question that you can't answer tell the seller you will need to talk with your partner and will get back with them. My partner was the Naked Investor. B) Then move on in the conversation by asking a question about the property: how many bed rooms, what is the square feet, does it need any repairs etc.

 

Put yourself in the seller's shoes; they think you are the expert and are probably more nervous than you are. Don't put added pressure on yourself to get the deal. When starting to talk with sellers just see what it's like, and the kind of questions they ask and take it as far as you can and be yourself.

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Ray, if the homeowner asks how much experience you have, tell them you are somewhat new at this, but your associate/partner has been at this for many years. Then, come back here with any questions. There are any number of folks here who are willing to help you.

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Had a seller ask about my track record the other day, what % of houses that I've done have been rented in how long, how many sold, etc.

 

I told him that I've been in real estate for a while but had just finished my first lease-purchase, but that I had such a high response from people asking about it that now I'm looking for more properties. The truth is, my phone is STILL ringing with people who are driving by the signs that are still up or the old ads online....

 

 

Oh, and the squeeze page is complete, just finishing up the e-book.

8-)

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B) Chris, I kinda like this. So, are you using the ebook and/or the free report as a marketing tool to get sellers calling?

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Nope, I didn't make the e-book a sales letter type of thing, I didn't even point any attention to my company or anything, I kept it as informational-only as possible without actually telling them HOW to sell their house on a lease-purchase, but more the benefits and great reasons why they should consider selling on a lease-purchase. What I'm looking to get is their phone number B)

 

I'm thinking of how I can incorporate myself into the e-book or squeeze page so that they'll at least have seen my name and picture before I call them up to see if I can help them with their situation B)

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I'm making the ads as targeted as I can in hopes to catch specific peoples attention.... using location (targeting two or three towns specifically), situations (expired listings, for sale by owner, vacant house), demographics (retirees, empty nesters, etc.)

 

ExpiredListing.jpg

MultiFamily.jpg

PepperellGrotonDunstable.jpg

TwoPayments.jpg

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Chris,

 

Nice job man. I like this idea and the way your squeeze page turned out.

 

What is your marketing plan for finding the sellers specifically?

 

Posts on Craigslist?

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