Ep 127- Real Estate Sales & Overcoming Objections

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

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

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

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

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

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

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

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

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

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

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

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

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

so let me let me ask you this or this is

for anybody but

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 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

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

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 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

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

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

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

but they're moving in with uh with the

with the younger family member

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

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

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

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

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

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

yeah i lost the deal

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

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

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

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

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

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

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

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

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

why that's why i don't call itex

[Laughter]

that's that's a good one and the junior

engineers detects to get around that

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

there's uh i think it's physics is

there's an equal and opposite reaction

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

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

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

i think i hit you up in

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

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