Come hive with us!!!
March 1, 2022

Ep 127- Real Estate Sales & Overcoming Objections


210-972-1842: Text "Hive" to get added to weekly meetings, text "course" to learn how to make 6 figures on one land deal.

Sign up at hivemindcrm.io

Follow Us On YouTube

https://www.youtube.com/channel/UCbulcrC4WbOy5Fzu0eWzNVQ/?sub_confirmation=1

Follow Us On Instagram

https://www.instagram.com/hivemindcrm/

Follow Us On TikTok

https://www.tiktok.com/@hivemindcrm?lang=en

Join The FB Group

https://www.facebook.com/groups/137799891494707

Help support the show

https://anchor.fm/hivemindcrm/support

--- Support this podcast: https://anchor.fm/hivemindcrm/support

Transcript
all right so today
i want to cover sales because a lot of
people struggle in sales
and they don't know
what to do or how to close people
so um i think anthony's supposed to come
out a little bit to help us give some
some sales closing skills but
um i think i'm an okay closer anthony's
just better than i am and i'm okay to
say that
so
um a lot of people struggle with closing
and
um we're gonna cover some tips and
tricks and hopefully some people can
provide input on tips and tricks they
have for closing
but um
i would say the very very very very most
important thing
is confidence
confidence confidence confidence
confidence takes you a long way and it
solidifies that you're serious and as
long as you
portray the confidence through your
conversation
it can really help you
get sellers or any type of sales to
convert
it's crazy how it works
but just being extremely confident
helps out in sales and i think it's the
most important thing it's not there's no
bulletproof saying of hey if i say
certain things or certain words or
phrases is gonna make people sell to me
it's
i think confidence is the most important
um
this is kind of uh
we can kind of leave it open to other
people in the discussion if you guys
haven't struggled certain areas in sales
if you have a current situation you need
help in a curtain and a current deal
you're working with
let's bring it to the table and let's
kind of work through it and different
technique techniques you can use
based off of
your situation
so i'm going to kind of jump into the
first one um we're just
in a
milwaukee a couple weeks ago with junior
and ray
and
we're talking about
how
ray was struggling to
uh rio struggling to figure out a way to
convert this sale that he had
that it was possibly a creative finance
deal
junior do you have an update on that
deal by chance
uh which one
the deal we talked about in the hotel
room from from milwaukee
oh the one he wanted 250 down yeah no um
i don't remember what he said the last
thing he said
and we just talked about it like two
days ago and i don't remember
way to go junior way to go
hold on i wanna look at my notes hold on
okay okay so
synopsis of it was is that the seller
wanted too much and he was he wanted to
create a
um
he wanted to create a win-win scenario
for the seller
and
the
i think the resolution we gave him and
he did a lot of the front-end work it
was just figuring out the final details
you got a junior
yeah i remember now
so we ran comps and he was wanting
i think 600 with the house
but the lot right next to it he i think
he had like 79 acres or 80 acres and the
one right next to it was 81 or 82 acres
that had just recently sold but it had
sold
like for 300 and he wanted 600 like bro
it doesn't make sense
so even if we do creative like it
wouldn't make sense for us to get it so
yeah
that's new information
he wanted like 250 down 2500
yeah okay so part of part of sales
process is making sure especially with
real estate is make sure you have a deal
and making sure you can possibly make a
deal
but um for that one we're trying
you have to really build rapport with
your sellers which i think is probably
step number two in sales is building
rapport and it's uh rey ray did that
very well he knew a lot about what was
going on with that property and he
he could he told us literally a to z
what's going on and what he wanted it
was just the price was too high so
there's a lot of
underlying things you have to build out
just by having conversations so i think
the first thing is confidence the second
thing is building rapport and
understanding situation because this
type of sales we do for real estate is
all about understanding their issue or
pain and we had a conversation with
junior about this is that um we're
problem solvers so we do we talk to
people we talk to people and we deal
with people that have problems if they
don't have a problem usually they can't
we can't provide a service
so we're only looking to people that
have problems because that's what we are
we help solve those problems to help
facilitate a real estate transaction
so and that's good when you go through
that whole report process
that's where that's where you get that
understanding if they have a problem
what problems you can solve and how you
can help them take it to the next level
you know
so
i would say
um what did i say oh confidence report
asking for the sale
simple simplest form is ask for the sale
if you don't ask
for what you're trying to buy or
negotiate you'll never get it
never ever ever
so ask for the sale
um a lot of people struggle with they'll
go through the whole process and never
make an offer
so you gotta ask for the sale you gotta
ask for the business even if and even if
it's a low offer or a high offer just
making an offer will help you get to
that's the next stage because there's
actually a conversation going on of what
price point makes sense
so
going back to race situation went
through the whole process made an offer
or got the offer out of them first and
now we're able to figure out if there
was
a resolution for them to make that sale
so
there's a lot of
underlying things when it comes to sales
and it's just going through the process
and understanding that
especially of real estate wholesalers
that we're trying to solve problems
solve problems um
anthony you want to happen right now
as far as different problems you solved
and how you solve them
um
i don't know if he's available or junior
yeah i'm here yeah go ahead
um yeah i actually love sales and the
cell psychology
i have a sales background and i did
sales professionally for a few years and
then of course i think in life everybody
we're always selling right you're always
telling somebody on something your wife
and your husband and where to eat what
to do for fun you know your friends on
where you're going to go hang out what
you want to do this weekend we're
constantly in a cell psychology
environment
so it is about give and take um
understanding like you're knowing your
own worth and what you can provide and
bring to the table like daniel was
saying
that if somebody has a problem we can
provide a solution and then sometimes
i think it's even not necessarily about
solving a problem right sometimes you
can just provide a cool solution to
somebody that they didn't for a problem
they didn't even know they had you know
so
um i think also knowing your worth right
so i'll give you for instance on this
this sub 2 house we closed this week
um the seller
was uh like we were negotiating at the
kitchen table for four hours right and
this is like over a two week process but
we're sitting the kitchen table for four
hours straight
and the uh the seller was you know she
was kind of back and forth like i don't
know i don't know if i should do it and
i don't know when i'm gonna see money
you know kind of that thing and i was
getting to the point to where like if
she didn't want to do it or she didn't
understand a certain part of the
transaction you know i was just going to
walk away
um so i told her i said hey i said if
you don't have that warm and fuzzy
feeling right now and like in the pit of
your stomach i'm going to leave and come
out of here like i'm not trying to
convince you i'm not trying to sell you
on anything you know um
i'm just i'm here to help
if i can and if not you know then
then then i'm just going to go ahead and
pick up and head out you know i'm not
going to keep
hammering on the person or try to
convince them so i think knowing your
worth knowing what you bring to the
table is huge
that's a big big part of sales
um so i think that's that's all we're
doing in this business is just finding
out where we can provide some sort of
solution
um to the seller
and if if you're not a good solution
provider then i think that's where some
people struggle
but then also
if you don't have enough leads in the
pipeline
then that's another place that you could
struggle as well so i think when you
when you're doing when you're leading
your business with marketing
and you have a lot of leads to look at
you'll tend to find yourself in a better
like sales positioner
so it's just the analogy i use is kind
of a crude analogy but i think everybody
can relate it's kind of like dating so
if you're a
man or a woman that has a lot of options
you know it seems like your
relationships are kind of easier
as opposed to maybe being with somebody
who kind of doesn't want to be with you
or if you only have one person to choose
from right they tend to get needy
and the other person can feel that like
for some reason this person's very needy
like they want a lot out of me maybe
more than one person's willing to give
and i think that's
what we do in sales is if you
if you're doing high volume marketing
high volume lead generation then you
tend to find yourself in
easier deals more often because you're
just cycling through more opportunities
you want to chop them off okay okay
thanks
um
what are the fun things what's funny
says that so a lot of a lot of people
overcome to get skills on that side too
so i actually was in uh steve trains um
training course and he's like the
difference between
people that do a lot of transactions and
people that don't is they have more
leads that's it it's not that they have
better negotiators is that they have
more leads to cycle through and more
leads to close so as long as you
understand that like hey if you're
struggling close deals you need more
leads
that might be that might be your issue
it might not be sales it might not be
any other underlying factors you need
more leads
so
definitely don't don't don't take that
light lightly so
it's a huge huge opportunity when the
right person comes along your path that
actually needs to sell you're having
you'll have a better chance of closing
them if you have more leads to go
through and the other the other thing is
is that
there's always more leads um
me and anthony and i think anthony kind
of alluded to it now is like if there's
no warm fuzzy feeling we're walking away
and sometimes when you when you say i'm
going to walk away they'll pull you back
in because they really need you in that
transaction
so just by just by understanding like
hey i got more leads to work that
actually need my help and telling them
that
they might pull you in like yeah i need
your help too so there's a lot of give
and take when it comes to negotiations
that um
that can really help boost it i've heard
anthony i went i went to san antonio i
want to say it was like six
to eight months ago and i was with
anthony and we went to do a seller cut
went to go sign a contract with the
seller at ihop
and uh i think he hard closed them where
we're like he really pushed away he's
like hey you don't wanna send us
paperwork we'll just we'll just go ahead
and leave
and uh he's like no no i'm ready to sign
i'm ready to decide
yeah he wanted to have his attorney
review it and i said yeah that's fine
and i think that's kind of where the
magic happened is uh he was kind of put
pulling away pulling away pulling away
so instead of me continuing to hammer on
him i said yeah you know what don't even
sign it today take the paperwork with
you show it to your attorney make sure
everything looks good make sure you're
happy with everything and
after that we kind of forgot about the
contract we sat and we had lunch and we
just talked and we caught up we found a
bunch of similarities and at this point
again i think
some of the biggest sales i've had so
far in real estate has been when you
completely forget about the sale
like i'm not just here just to get a
deal just to sell like sometimes you got
to put that aside
and that's i think that's what we did
that day better than anything is we were
just talking like guys assuming that
nothing was going to get signed
and uh
when we were getting ready to wrap up
the guy says you know what he takes a
paperwork out of his jacket pocket he
put out a pin he just signed it right
there on the spot
so i think yeah knowing when to push and
when to pull
um and i think too like it's always not
about necessarily about getting to sell
part of being a solution provider is
knowing that you're not the best
solution every single time
so you know and i tell that to sellers
all the time you know what and i
actually heard pace do this before but i
was doing it long before i even knew who
pace was
um where he says you know i'm probably
not going to be the buyer for this house
and just let him know that right up
front based on everything that you told
me
i'm probably not going to be the buyer
for this you know i can connect you with
another buyer or i can give you some
other excellent resources that probably
help you along the way but
i might not be your guy and that's okay
i'm okay with that
and i think what that does is it brings
a person's walls down because they know
you're not just like a money hungry like
an investment shark where you're just
there to just win every single time for
yourself you say hey if i'm not the best
solution provider here i can introduce
you to the best solution provider for
your your specific situation
and i think that's where a lot of magic
happens and what we do and uh
again if you have scarcity if you're not
working on a lot of deals all at the
same time it's harder for you to get
those words out of your mouth you know
to say you know what i'm probably not
your guy and uh when you're comfortable
saying that people really appreciate it
and then you're also not using it as a
sales tactic right you're being very
genuine
saying if i'm not the guy i can
introduce you to the guy and so then
i've had people come back in and say
well you know what i appreciate that but
i want to do the deal with you
i said well you know where my number is
that's all i can tell you and there and
they've agreed at a sometimes a lower
number one time i got a house was a 750
000 burn house
and i was 30 000 lower than his highest
bid and he still went with me
so you know the guy wasn't hurting he
wasn't any kind of like financial like
problems but
he was he was really well off the
insurance had already paid him and he's
like i just want to do the deal with you
and i think that's just being genuine
just being you know somebody that can
help
no matter what and then letting them
know right up front is like i might not
be your best guy for this
yeah
yeah there's there's so many um
there's so many stories that come up
when we talk about this and it's this
i think the biggest thing is having the
conversation with the seller like if you
can understand what their pain point is
and
really
understanding like hey we can help solve
this issue if you can go with us
it might do wonders for you
uh junior do you have any sales tips
you'd like to give because i know junior
is a master closer here too
oh yeah no dude
see to me i always tell everybody just
have a conversation everybody overthinks
a lot of like why
like why are you over thinking i'm like
well what if i say this and he might say
this i'm like you haven't even asked how
are you gonna know
so just go have a conversation go with
the flow go
go based on what he's telling you find
out their pain everything
it's like
i have this guy that's 18 year old he's
like he's always overthinking it i'm
like why are you overthinking it you
haven't even asked a question
you haven't even gotten on the phone
you're already scared of asking
yeah just have a conversation that's it
that's all i do
so i i i have a opinion
that maybe you guys can let me know but
do you guys
run
comps
and try and figure out as much as you
can before you talk to them or do you
wait for them to tell you
i do i do it when i'm on the call
okay
to me i think it's a waste of time like
you can run numbers and everything and
then by the time you call they're like
oh i decided to keep it on it what the
hell was all that for
yeah i'm looking at that i'm gonna feel
whatever
yeah because i and like i said it's good
practice when you're first starting out
but like when
you're wasting time by doing all this
research and then it's you don't even
talk to them on the phone or they don't
answer the phone or they hang up on you
or something like that it's like yeah
it's not even
that's why i just call if they say yes
then i'll start running numbers
that's it there you go
yeah a lot of people should go with that
one too like i said i had the reason why
i asked is because i had to call
recently with somebody like oh i need to
run numbers on this i'm like have you
spoke to them yet no
like why are you running numbers yet
now if you already talked to him and you
told him that you're gonna call him back
then yes
then make sure you run the numbers and
know your numbers before you call them
again
yeah but not on the opening call no not
on the opening call now yeah
it's a
very very and then you can just by doing
that you'll you'll save your time
because like while you're researching
that call right you're researching that
one property you could have talked to
you could have made 10 phone calls or 15
phone calls
so you're just wasting precious time or
you actually could use it for
prospecting versus just looking into the
property
it's huge huge huge huge
hey uh steve anderson
what up dude
steve anderson's a killer in cali what's
some sales tips that you could give in a
few sentences
um honestly man i mean
collectively what everybody's been
saying
you know um have a conversation
don't be afraid to push them away
if it's not a good fit
um you know a lot of the times when we
hop on the phone especially like right
now so like we've kind of switched up a
lot of things
um as i'm sure like i already i've told
you you know before but we're marketing
a little bit heavier now back in san
diego again
and you know having conversations with
people in cali
versus you know midwest and
you know all that kind of jazz it's a
different conversation to have
so i'm finding myself
if you know let's just say we have a
high equity
you know absentee list right which which
right now i mean it's kind of tough one
to hit and kelly
um
let's say we're calling somebody like
that you know my approach to them is
gonna be a lot different because
like i'm gonna i'm gonna most definitely
let them know
you know how the market is
a lot of them tell you right away
and granted i mean i'm sure a lot of
people run into this too but they tell
you right away they say
well i'm not desperate you know if
you're looking for somebody desperate
you know i'm not the guy
i used to tell them right off the bat
i'm actually you know that's funny you
say it because i'm not looking for
anybody
all right what i'm looking for is i'm
looking for i'm looking for the people
that actually you know that are in your
shoes that don't have to sell
and that kind of blows their mind
because they're like you know they're
waiting for guys to offer them 50 on the
back
um so you know instead of me just
immediately saying you know hey i'm
looking for you know this or if they're
not at 50 of market value then it might
be over
you know i kind of just switched up like
that but anyways long story short i'd
say don't feel don't be afraid to push
them away just like the other bro was
saying right now and and having a
straight conversation with these people
man the scripts uh sometimes like even
for my team
you know
if they're new i'll give them scripts
but i tell them hey this script is not
for you to go word for word
this script is for you to learn the
structure
of the call
right um and make sure that you don't
sound like a robot because a lot
of these bigger markets as soon as they
hear that you're done
um you know so find your voice
i i think is you know the newest part
other than that piggybacking off what
these other guys says you know find a
voice
you gotta find what works for you uh and
you gotta sound like yourself how i'm
talking to you guys right now
you know minus uh
because most of the cuss word depending
on who i'm talking to
i sound exactly the same
right and that doesn't change for
whoever you know i'm speaking with maybe
i'll slow it down
or i'll speed it up or i'll be more
blunt you know so i you know learning
how to mirror people and finding your
voice i think is probably one of the
biggest
challenges i see a lot of people having
that's awesome
um
so let me let me ask you this or this is
for anybody but
do
you guys take a direct approach like if
somebody's going through like a
pre-foreclosure or text for closure or
something like that you're like hey
you're you're in your text link with
i usually don't do that um i usually
don't do that right away because a lot
of people are in foreclosure
pre-foreclosure you know it depends what
stage they're at in their
pre-foreclosure and you know what i've
been finding a lot too
is depending where you're pulling your
data
you might you might be you might be uh
in the wrong zone my friend so what i
mean by that is you know i've talked to
people that you know maybe they were in
pre-foreclosure but they're not anymore
maybe they were taxed you know you think
it's due even with taxes
and this is something we found out a lot
is that
you know it's easy it's easy to to be
put in a spot to where you're on that
tax list
and and you're doesn't mean you're
completely like a
100 default either
you know you could be put on that tax
list by by missing you know one payment
or something happen at the recorder's
office or at the office uh you know
wherever wherever it happens you can be
put on those lists so they might be old
so i usually just go in you know like
and i don't pretend like i don't know
anything but i go in there knowing like
this person might be in free foreclosure
and then kind of
for me at least it's a double-sided uh
sword there right you have that back up
knowing that they might be in
pre-foreclosure and then another side
you know you could see who's a liar
who's not
a lot of people uh you know they don't
want to come out and tell you that
they're they're in trouble like that
right and um you know who knows what
they're trying to get away with so
but yeah anyways not so sure i don't go
in there guns blazing and say oh i know
you're in pre-foreclosure
um that's it i don't at least i'm not
saying that's the only way of course
um does anybody does anybody come in
guns blazing
by that mean really aggressive on the
front end
i normally don't target pre-foreclosure
so i've never done it i mean i let them
tell me that all the information that i
need to know and i'll go from there that
like if it's vacant if you have to have
a mortgage and they they do have a
mortgage and i'm like okay are you
behind on any payments and then that's
when they tell me everything
but
like for me to be upfront and tell them
right off the bat now because i don't
target them
so it's it's it's different approaches
so i talked to uh andy andy gomez he's
another one of our clients
he
he targets tax foreclosures like
30 days or less before they hit the
foreclosure auction
and he he said he goes in there pretty
pretty
pretty hard sometimes if he has to
depending on if they're if they're like
defiant for them on the front step
because he actually door knocks
so for him to get into the front door if
they're trying to push them away around
the beginning he'll hit him with a
hammer
to to kind of like hey i know what's
going on we need to talk about this you
need to resolve this
yeah i mean everybody's different
approach i mean i i wouldn't doorknock
so i wouldn't know like i would i don't
know i'm just afraid of getting shot
with the hell no no i would have not
and
i see the benefit in that dude too like
i mean
i see the benefit in that shotgun type
of approach i mean i i've we've done
that before
just more than not you know you never
know their their current situation man
like you know but if they are
yeah man pull the trigger i guess that's
yeah
there's there's no wrong way to go about
it
i think it is is the is the is the
wholesome answer there's no wrong way to
go about it just understand that it's
you have to exercise that muscle whether
you go in
however you go and you have to exercise
and i really like what you said about
steven steven was that
the the script is more of a flow of what
should happen and not that you should
follow verbatim
and so too and you know what though if
they ask me
if they ask me hey how did you
how did you get my number
then i'll tell them i'll say well you
know i was looking in the area
for uh for you know uh any properties
that are you know either jackson
delinquent or pre-foreclosure
you know and yours popped up on there
i'll tell them that way if they ask
that's for sure
so let's kind of jump into overcoming
objections
um
what are some common objections that you
you struggle with when or you're
concerned with
um going into an appointment over the
phone or in person or whatever
does anybody have any seller objections
they're concerned about
i do i have a question go on manny
uh yeah i've always i've always
struggled with the one where i've gotten
a lot of sellers saying i do want to
sell but i don't have anywhere to go
and they're older
and they're like i do want to sell i do
want the money but i have nowhere to go
where can i work where you can put me
and that's where i stall
junior you have an answer for that one
what do they need how much do they need
to leave where are they planning on
moving do you need a realtor
do you want to
need it for us to help you find a place
to stay before you sell
i mean you can go either way
uh yeah but
they
they're
they're in a situation where they can't
afford they can't afford to go to an
apartment i'm in dfw area and apartments
are like they're not used to paying rent
right now because their house is paid
off but their house is a mess and
they're older
so they're like i can't i mean yeah i
thought about going to an apartment but
the apartment is 1300 bucks
i mean i'm just what am i what am i
going to go do
go pay an apartment that doesn't make
sense for me or or to like a elderly
home you know
have family they can go to
no
no family
so i'm like so i just lose the deal i'm
like i don't know where where you would
go then
they're like but i would want to sell i
mean yeah but the price that you that my
house is
uh the price that you gave me i mean i i
could probably do something like that
but i can't live
i don't know how long more i have left
to live and i don't think
that the amount the money that i'm gonna
get is can hold me at a department i'm
gonna go through that money fast
are there any any that
for my experienced people are there
anybody out there that's doing
like
i don't know non-profit
providing it would be i would imagine
would be a non-profit business
and
let's say um they have connection to
properties i guess you could say they
would be creating
subsidized living
has anyone ever heard of like because as
i'm listening to this this
particular
um situation
i was just thinking to myself man see
these are one of the things that one of
my goals is to be able to help people
like that you know have
enough set of homes set to the side that
may may not
and be supported by you know of course
the profits and grants but they would
have to be able to come up with
something so i'm not sure
if anyone is already out there doing
something along that line has any of our
my experienced people heard anything
such as that
um
the subsidized
it gets it gets kind of difficult
because
there's i'm sure there's non-profits out
there but it's going to be few and far
between and you really have to do the
research to find that place
and that where it comes down like you
might just like
manual you might have to do that
research to see if there's something
like that in dfw who knows
um there's a there's like the individual
nonprofits i've never heard of any large
organization that does that it's just
going to be feeling far between as far
as what resources they can use even in
that situation
so
um i have a family member going through
this and they're moving with family like
junior said that they have an older home
that they've owned for 50 years and
they're selling it
to an investor because it is in such
disarray and has a plumbing issues and
stuff like that
um
but they're moving in with uh with the
with the younger family member
so
there's always the
when it comes to elderly people there's
always like the the nursing homes the
how the
at-home health care and it really
depends on their living situation too
because like
if their home is in such disarray
because that's the problem with with
older homes and older people that own
their homes for so long is they can't
keep up with the upkeep of it so
the plumbing the roof
there
they might be hoarders and like
collecting items and then now they're
actually living in their home is
dangerous for them
so moving into some type of
assisted living facility
might be a better option
just in that case and that in every
situation is going to be different too
because they might have retirement
income they might have
um
social security income they might get
some other type of income from the state
that can help
facilitate and transition them into a
better better position but is it going
to be individually based
100
yeah yeah i i looked i had another
investor we talked about it and yeah i
guess i do have to do my homework on
that one and have it ready you know like
an extra tool in my toolbox go talk to
facilities where i could i could um send
these type of um sellers you know and
and have like a council like somebody a
counselor talk to them and say hey we
could admit you here how much money are
you making me
all right like how you say you probably
have social security come in and we
could afford it with that yeah
retirement social security or any type
of uh investment income
they can use to subsidize go ahead
stephen
oh oh yeah i wasn't gonna say the same
thing man yeah just
depending on if they don't have much
longer to live
yeah man they should be looking they
don't have any family
then yeah they should just be able to
take that nest egg and then be able to
allocate it for their assisted living
and you know what if
it comes to the point to where you know
you want to close on that property
beforehand
you know you can always just rent it
back to them if the shoe fits
right you just hold back a certain
amount of proceeds until they get out
um
or until they until you find them that
place and you can do that too
yeah your your contract can be
contingent on you finding them a place
to go so you can still sign that
contract and move forward
but it gives you time like hey let's do
this contract i'm willing to work with
you on this situation let me do some
research on my side let's get this
contract for your purchase price this
isn't the best place for you right now
but let's let's lock up this contract
and it gives me the ability to help
facilitate things on the side because
i have other people i can help too but
i'm not going to i'm not going to move
forward
if i'm not if we're not going to have an
agreement in place
for sure and also dude at this event
that we're at the other week
um you know yeah he had his attorney
come by as well and and kind of talk to
us for a few hours and you know
obviously i've thought about it before
but i've never really dived into it like
you know because i talk to you know i
think we all do we all talk to a lot of
elderly that are trying to sell their
house right
um you know and one one just a piece of
food for thought there's not really any
natural
you know step-by-step guidance i can
give here because we're looking into
this ourselves but you know these
predatory elderly laws
right and and and this is kind of off
topic it might be out of left field but
you know
watching out for that stuff dude because
that stuff is super risky man you know
um a lot of people that are elderly
sometimes man like you know
if they don't know whether where they're
at or
or
you know if anything can come off this
construed as predatory towards them
um you know especially if they're that
close to
to being deceased or dying
um you know just prove the thought think
about that too
yeah why don't why don't you
um
i mean give them the best of both worlds
ask them exactly how much they need to
live on
divide that amount divide the purchase
price you have by that amount
and offer them that per month let them
owner finance the deal for you you turn
around and i want to finance it to
someone else
if they're going to move into an
apartment you just tell them listen the
house is 100k you need a thousand
dollars uh to live off it's going to be
basically a no down payment
no none zero interest rate finance
seller financing divide that amount
by whatever the the uh divide the the
sale price by the amount they need you
get your your terms your number of years
and uh just
owner finance from them turn around and
owner finance at the an end bar at uh 10
with uh
i don't know
uh 10 15 down you got free down payment
money up front you got a big uh
uh spread of cash flow uh every month
probably for 500 bucks the the old folks
who are uh you're buying from are happy
they got cash flow that they can
maintain themselves with
and that they don't have to worry about
going to invest it someplace i mean they
got constant cash flow coming in to take
care of their needs you got the deal
going your end buyer is happy everyone's
happy
that is a great note sheik
very good um one thing one thing to be
worried too with elderly people i
actually have two personal stories of
this
both
in different ways but um
one of my earlier one of my earlier
deals i contracted
um
i it was a guy he was
84 if i remember correctly he was 84.
and uh he's like yeah i've owned this
property 50 years it's own free and
clear he's like i want to show you the
property because he used to live there
for like the first 15 years he owned it
so he he loved that property
so he went he went and showed me the
property
and i'm like like it was it was kind of
in disarray
like the outside was trash but the
inside was clean
and uh
he almost fell on the steps and i'm like
okay you cannot come here anymore and i
had to break in the house because i
didn't have a key anymore but uh long
story short is that
he ended up uh
i i found i contracted it i found a
buyer to buy it i was gonna make 25 000
on it
and uh
we're supposed to close on a monday the
friday before close he passed away
so
um
yeah i lost the deal
so
be
be mindful when you deal with other
people that they could pass away and my
second story i have for this is i have a
seller i'm working with right now
i'm working for the deal for like two
years and he's in the 70s and i'm like i
have to get this deal under contract and
some paperwork in place
because if he passes away i don't want
the same thing to happen to me because
crazy things happen when people pass
away
and um
actually have a third story for this too
as well this happened just about two
months ago
i was working on a property here in
california
and the seller agreed to own or finance
it owner financed the property to us
with uh with a down payment because
he he was older and he was going to flip
the property but never he ran out of
time and he was just too tired to flip
it
so
we had like a verbal agreement that he
was going to sell it to us or finance
the next 12 months it was going to be
great so
literally uh three months after we had
the conversation he passed
away
so we contacted this the heirs and like
hey your dad promised us this property
he says gonna sell it to us at this
price point i wanna finance it
and the
the mate but i think like the wife she
was like yeah yeah okay whatever that
sounds awesome we'll definitely keep our
word on it
literally a week later the sun came in
took over the whole estate and sold it
to an investor
so
and this was like two months ago so and
it's crazy it's crazy the things that
can happen um when you're dealing with
elderly people so it's always important
to
close those deals sooner than later
because
you don't know what could happen in the
long run and you don't know the capital
along with multiple transactions like
this anyway it's just that
the deals can turn ugly
and not in your favor if you don't move
fast enough
100
so there's three different deals right
there dealing with elderly people
and one when i'm still working but two
fell through because they passed away
so quick quick little tidbit there
for everybody dealing elderly people
um is there anything uh in the i see bob
but he's like shaking his head he's like
what
yeah
i just said i just had a similar
similar situation
um they didn't pass away but there was
multiple family members there was three
i think three siblings
and i got a hold of one of the siblings
one of the and they were elderly mom
passed away
she was
you know 80 90 years old so i'm talking
to a 70 year old man
and i uh i've been driving past this
beat up house for years
and i finally decided to you know go
ahead and make a phone call here they
live they live on the other side of the
state
and
i i also have a remodeling business so i
told him you know whichever way you want
to go with it if you want to fix it up
or sell it
just um you know we're neighbors i drive
past the place all the time we had i
thought a good report going
and he said yeah i'm going to be in town
a couple weeks and we'll take a look at
it
and i got a hold of them i hadn't heard
from them
so um
time you know a couple weeks goes by
three weeks four weeks and i say hey
what you know how you doing what's going
on over there and
he said we're going to list it with a
realtor i was like man
that's what i get for being patient you
know i should have been like the next
like i should have been following up on
him quicker
and said you know i'll make you a cash
offer what are you looking for what do
you want for it you know
but i was just uh i was just being
i was being a little too chill a little
relaxed and now it's in the hands of a
realtor so
there you go
so
anyway
that's that's what i get live and learn
i'll be a little more pushy next time
direct direct is the key
that sounds better that sounds better
direct yeah
oh my goodness
yeah missed opportunity is priceless
but you it's a it's part of your
education
you start learning after a while
that it costs you
not not doing what you're supposed to do
it costs you large lots of money in the
long run you're like man
i know and now every time i drive past
that property
i'm gonna be i'm gonna be mad that i
didn't call in sooner or that i didn't
you know and there was no for sale sign
on the thing you just i saw a
dilapidated you know
falling down
house
and some sheds that were blown up
sitting in the yard and you know i know
what the market's like i know what the
town is like and i know it would have
been
it's probably a 50 000 piece of uh
it's probably you know like a third
quarter of an acre
and and yeah it's yeah i don't even
think it's a quarter acre i think it's i
think it's 0.17
and it's probably it'll probably go for
50 50 60 000
um
but i don't know what it's going to take
to get that it's going to take at least
15 grand to get that
the uh beat up building and the sheds
get the lot cleared off
man
so i'm going to jump into my my deal
where the seller died because
i had opportunity to go see it a few
months ago and i didn't go see it
because i was hurt by it
i was hurt by it um what ended up
happening was it was arv on this house
it was like um
it was like a five bedroom house it was
like the house we just picked up in san
antonio it was huge
five bedroom
four bath at a basement
uh inside was immaculate outside was a
little distressed but inside was
immaculate it was it was a hundred year
old home built in the 1920s and it was
inside was pristine
and uh i contracted it for a hundred
thousand
um and then the seller passed away
um and i didn't i didn't know like when
it was too soon to follow up and i just
i was just scared to like i don't want
to be that person being too aggressive
by not following up
i looked that up i looked and this is
like two years ago i looked it up i sold
a year later for the same price and the
market went up as you know over the last
couple years so it's probably worth like
350 to 400 000 and they bought it for
the same price i contracted it for four
hundred
so whoever bought the house is literally
made a killing on it
and i had opportunities that i had
opportunity to go see it because i
actually own a house right down the
street from it because it's one of those
houses i just drove by like you bob this
was a house i drove by every day
and like i'm like i don't even want to
go down there to see my house because i
don't want to pass up this one that i i
missed up i missed the boat on and
they've already owned it for a couple a
couple months so i'm like it's probably
gonna be all nice and pristine and all
everything i wanted to do with it's
gonna be done and i'm gonna
i'm hurt
i'm hurt by the situation
so it's definitely uh speed and
efficiency who said that in the comments
oh christopher
follow up and follow up effectively
hey danielle got one uh by the way this
this one this one this one uh burns
every time i talk about it right so um
i was in new york and um
i got uh in touch with a guy who had a
property up there they lived out of
state
and um
they had a section eight tenant in the
property
so um within communication i went to the
property
walked in i mean there's
urine smell
dog feces everything right but section 8
hadn't been coming out and inspected so
you know they were still living there
she wanted out
um she wanted to move out of state
so there was an issue with that and then
section 8 i think she owed him some
money so um
i got i got a contract with the guy
because
well i didn't actually get contracted so
this is what happened in new york you
have to
you can't send the seller the contract
the seller has to actually send the
buyer to the contract right so i spent i
don't know weeks on weeks on weeks i
mean i've talked to this guy for over a
year
coaching him in how to
speak to his attorney to send me the
contract so finally
when i ended up getting him into an
attorney right so we we start the the
process of everything i found the buyer
buyers at like 305 but the buyers
attached to a broker who's trying to get
in the wholesaler so she wanted like 15
grand so we contracted the property at
like 270.
i put in a buffer for um
put in a buffer for
the section 8 tenant to give her enough
money to move and all this other stuff
and i think i might have been making
like 12 000 or whatever right
so
within contracting
the attorney that i hired for him
actually
showed him
the
final sale price
and when he saw that price him and his
wife they were like oh no we can get
more for the house brother
so they never actually signed the
contract
so then
that happened though was because my
buyer's attorney
told him
he didn't like the deal
and he sent the letter without his his
uh the um approval to
the seller's attorney i mean the um yeah
the seller's attorney did that contract
so that's how they saw everything
but
long story short i guess um
it ended up going with a realtor because
i couldn't close in that week and um
it sat for an additional
four months
just sold
and it sold at 15 000 over
what i asked
but they had to pay realtor fees which
was about 16 000 so they got less than
i would have got for them and handled
all of that stuff
in between so
i guess the the thing that hurts me the
most is i was trying to help so many
people trying to get everything in order
for everybody to you know see a win in
the situation and then you know
the greed alone just turned them into
you know that dude i end up losing
like 3 500
man it happens
it happens it happens a lot
that's crazy
there's uh
though the one thing that you got to
overcome after that point is that
there's always more deals you can't get
hung up on the one deal
it might hurt a little bit even to this
day but you can't get hung up on it
because that's that's where the real
pain happens is when you stop posing
and you know continue to move on past
that
so that's really really important
my whole week is something like that man
that's crazy
um
any i know we kind of went off a tangent
with uh manuals uh
objections does anybody else have an
objection
that they struggle with or concerned
about
that they might not have an answer to
with dealing with seller objections
why would you think that i wanted to
sell my property you called me so why do
you think that i want to sell my
property i get that one a lot
um
why that's why i don't call itex
[Laughter]
so
that's that's a good one and the junior
engineers detects to get around that
um
we're looking for
we're looking for people in the area
that are looking to sell their property
it might not be you if you don't know if
it's not you do you know anybody looking
to sell
it might be an easy objection to
overcome but um it depends how it
depends how you called in
to to get that question
of how that question came about
that required that that response
so
there's uh i think it's physics is
there's an equal and opposite reaction
so
whatever you asked up front was what
caused that question might be the issue
so it all depends on how you
ask good questions
because the way you ask the question is
gonna does it it's gonna
uh bring about a certain outcome in most
cases
it's just it's
how you ask
versus the question you ask
you know so
definitely definitely a good one good
junior
no i agree it depends yeah
yeah
yep
so
def be mindful of your tonality
tonality is important and your
confidence
so as long as you
understand
and like i think uh steven said it
earlier is how you how fast you speak so
people that speak really fast
people that operate slower you always
want to mirror how fast or slow they
talk as well
because that can show you're on the same
page just by the speed of your
conversation
and your tonality
so those underlying
underlying issues or concerns that could
have brought around that question
and it's all based off of your speed and
tonality
good question wayne good question
um
let me see uh
anybody else have any final questions or
concerns
thanks for coming on steve
appreciate it thanks for your time man
you contributed a lot to this
conversation
yeah i didn't want to interrupt
everybody i'll have my screen on next
time too but i'll check you guys on the
next one
good night guys
peace
um we do these calls every monday
thursday and saturday uh mondays and
thursdays are on
zoom
and uh
saturdays are in clubhouse but if you
guys have any questions or concerns
please feel free to bring us up on the
facebook group if you guys have any
deals need help with like i said we're
all here to help each other
um go out danielle
i know i got one finally
um i do need help with because it's
actually a deal that i thought it fell
through
the lady i personally worked with
when i was in florida
um she has property
both scattered throughout florida and
georgia
on their commercial lots so
um
i think i hit you up in
on
messenger
yeah it goes up later okay all right
but i'm just excited about
i was really
excited just the fact that it came
around i really thought it was a done
deal so
but
never know you never know when things uh
kind of circle back around so that's
exciting for me
that's it
follow up follow up follow up it's
important
um
we appreciate everybody coming out
thanks for coming on the monday call
next call is thursday at 7 central
um if you have any questions or concerns
need help with anything feel free to
reach us out reach out to us we're here
to help and you all have a great day
enjoy your day thanks for coming out