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Million Dollar Listing


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#1 Learning and Burning

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Posted 14 July 2014 - 02:38 PM

Hi All,

I am wanting to lean how not to be intimidated by big value Homes. I am working my naked dreams in Southern CA, and the Oregon coast. I have family and properties in both at the moment so my marketing is in these areas. Now brings the question of my intimidation when it comes to homes past the $500,000 range. I see lot of properties north and south in this price range and have gotten some inquiries with my marketing. I'd like to get into the higher end homes as i come across sellers that are open to what i do. One time the first words from the caller was Do i deal with million dollar homes? I of course  responded with of course i do. I felt my anxiety go up and was intimidated. A Realtor talked her out of working with me because he convinced her who the heck am i and am i for real. This is what she told me. I have a seller right now in the $650,000 range who is responsive. But when it comes to making the offer i seem to clam up and lose my mojo to make an offer. I am so ready to make the million dollar leap, its what i call it. So any words of wisdom to help get me to grow into the bigger numbers would help me in a million ways.... 

 

Learning and Burning



#2 MichaelC

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Posted 14 July 2014 - 03:40 PM

Mike, it's all in your head.  If you can do a deal on a $50K junker, you can do a deal on a $500K McMansion.  The concepts are the same, the only differences being the market for more expensive homes is smaller, meaning it will likely take more time to find a t/b.  But on the positive side, the option money is substantially more. 

When that homeowner questioned you because her Agent bad mouthed you, you should have offered to present her with your proposal via a Short Offer Letter and she would have seen the substantial difference in her net selling price.  Neither you nor the homeowner had anything to lose.

Don't let the bigger numbers intimidate you; a lease purchase is a lease purchase.



#3 Learning and Burning

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Posted 22 July 2014 - 01:17 PM

I do agree that most is in my own head. Now beings in the So Cal area i see a lot of posting for $400,000 plus homes by owner. I want to follow up on these because the posting appear the sellers are open to what i do. So it go's back to as you mentioned the market for such houses will be smaller. There comes the intimidation factor and being afraid to take that leap of faith that if there is houses they will come. How would you propose i go about marketing? Would i do as i do with the rest or would i have to go about another route? My rent  to own signs work and i get calls from wanting to renters to rent to owners with modest scenarios. Now with the higher priced homes and that market i'm afraid such wording will not be as inviting. And of course looking like a newbie when i talk with tenant buyers with bigger money is what i want to get past. So in a naked nutshell this is turned to out be a i got to risk it to get the biscuit..... post. My goal is to get one of these big fish by summers end, so all ideas will be appreciated....  

 

Learning and burning...



#4 MichaelC

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Posted 22 July 2014 - 01:24 PM

Prospective tenant/buyers, regardless of the price range, aren't much different.  The first concern is always value.  They'll ask themselves whether or not the property is priced right.  Second concern is terms.  "How does this Rent to Own process work?"  They may have an idea, but they want to know what you mean by a Rent to Own.  If you can clearly explain the t/b benefits, and they have the financial wherewithal to do the deal and eventually exercise their option, the deal will get done.  More money doesn't necessarily mean more difficulty.  If you're turning your back on higher priced properties out of fear or confidence, you are your greatest obstacle to succeeding.






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