Don’t Waste Time and Get That Seller on the Phone!

Transactional real estate engineers can start doing business as
long as they get to talk to sellers. As soon as a lead comes in,
get hold of the seller. The best way to do it is over the phone.
If you let time go by or wait for them to answer a text message,
they might not see it, change their mind, or even lose interest.


In this episode, Blair and Jeff share their wisdom on different
real estate business topics. Learn how to get sellers on the
phone. Discover how to estimate the purchase amount for a cash
purchase, how to respond to buyers wanting to know what the
process of rent-to-own is, and the process and document
signatures needed when assigning the deed at closing. Find out
what options you have for different deals and their best exit
strategies.


Gain skills on merging a separate tracking lead document with
Mojo so one automatically updates the other. Finally, find
different main lead sources for your VA to work on, the meaning
of HUD, and a hot deal involving a 3X per month rental property.


To listen to the full episode go to MoreDealsLessHustle.com


Mentioned Resources:


Zillow

Propstream

Mojo

Screen The Tenant

Rentown

CallRail

FRBO

FSBO

Zbuyer



In this episode we covered:


00:00:00 – Start-up and market update

00:05:13 – Trying to figure out why seller has a mortgage for
$172K, another for $50K, and a loan for only $118K

00:06:40 – Starting process to do title search when buying
subject-to; whether title company orders payoff or we provide a
mortgage statement for the assumption amount

00:09:36 – How to estimate the purchase amount for a cash
purchase

00:11:13 – About a wholesale deal in Rector, Arkansas and
negotiating the purchase price, taking into account the house
needs some work done and doesn’t have HVAC

00:17:30 – How to approach sellers who are not responding to
calls and get them out of the house by using cash for keys

00:21:15 – 05:13 cont.  Trying to figure out why seller
has a mortgage for $172K, another for $50K and a loan for only
$118K

00:29:15 – A client’s good way to get sellers to respond
quickly to calls and how to give access to team members to
Propstream

00:31:35 – About a subject-to deal in which seller has been
asked to complete new loan documents by their bank to fix a home
equity line of credit

00:37:29 – How to respond to buyers wanting to know what the
process of rent-to-own is and when is it okay to mention down
payment assistance

00:39:36 – A way to merge separate tracking lead documents
with Mojo so one automatically updates the other and about the
importance of having them updated

00:42:29 – About Screen The Tenant, paper application fee,
and hold in fee

00:45:18 – A client’s successful way to advertise for the
proper buyers

00:46:33 – Process and document signatures needed when
assigning deed at closing in New Mexico

00:57:24 – About Screen The Tenant and the best way to run
credit when buyers send application to validate what they are
saying in their scores

01:00:57 – How to approach sellers concerned about the
liabilities they hold if their house burns down and they have the
loan in their name when doing a subject-to or a carryback and
amount to consider when getting an insurance policy

01:05:45 – How to approach sellers when they ask how do we
make money

01:06:20 – About HUD

01:08:48 – Whether having water and electricity cut off for
six months is an issue or not in a deal in upper Midwest

01:12:17 – How to approach a seller asking for $175K and owes
$152K, when comps are between $140K and $160K

01:06:10 – What is the standard purchase agreement doc used
for?

01:16:35 – Problems with Facebook messenger video call saying
seller wasn’t available

 01:18:28 – How to approach seller asking $50K for 6-bed
2-bath on 5100 square feet that is worth $200K

01:22:34 – Strategy to work out and exit a deal in which a
seller owes $199K for a house that needs repairs and ARV is $230K

01:27:17 – What to do when we find a VA but are not quite
sure yet and the main lead source for VA to work on

01:30:45 – Meaning of “request refund” in one of the steps
for action plan in inbound seller leads

01:32:11 – How to get sellers on the phone

01:34:46 – How to approach a seller who is open to seller
financing for two properties he owns, and one of them in need of
a lot of work

01:41:30 – What happens if a seller doesn’t pay the mortgage
payments even after closing although he is obligated to pay

01:43:38 – About a 3X-per-month rental type property,
possible exit strategies, and highest expected taxes

01:48:02 – Wrap-up



To listen to the full episode go to MoreDealsLessHustle.com


About Blair:


Blair is the founder and creator of Dealbot, a motivated seller
lead generation company. He has managed nearly $2mm in marketing
spend and generated over 100,000 motivated seller leads. He also
buys and sells houses himself in the Winston-Salem and Charlotte,
NC markets. In the past year, he has acquired nearly $3mm in cash
flowing rental properties with zero money out of his pocket.


Multimedia:


Youtube

Apple Podcasts

Google Play

Facebook



Thank you for listening!