Now that the push for real estate matchmaking software has ended again for now… There is more to being a real estate matchmaker other than getting a buyer and seller and putting them together. I
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Well it’s been 209 days since my last post this one will be short the next one won’t be nor will it be in 209 more days! I guarantee it won’t even be another 209 hours before the nex
Read More So it has been awhile, but every time I had a post I wanted to write the flavor of the month would come out with an email that all of his large list of friends would send you also that was close to th
Read More I know several people have asked me about doing deals in other markets what’s my best tip? This is a good tip for doing deals in your own market also though… There is an old saying that
Read More So I’m just gonna say something real quick like… Be careful what you ask for you just might get it is a powerful old ass saying… I’m gonna have start digitally bitch slapping p
Read More Real quick tip. If you have been getting ghosted on Craigslist try not using links especially if all you are posting is properties. Sellpoint really seems to be getting hammered by their system and they don’t even have an answer as to why. Also I as advised to not put up any pictures. Hope this helps. I talked for 45 minutes today with their customer “support” which is actually not all that supportive go figure. Seems like that’s going around these days.
Later Peeps
Happy real estate investing!
After my 2 week protest…. I’m back. I went back and forth over whether or not to just quit blogging all together after the atrocity that took place but f@$k it. It doesn’t even matter it’s not like 7,897 people could be that far off base as opposed to one who is just confused.
Now on to the advice. I am all for people investing in real estate education, but in about one hour your email inbox will indeed be touched like Arnold Drummond on that creepy 2 part episode of Different Strokes… I don’t even know how much it costs just yet, but don’t just invest in something because you think it’s going to create a booming business for you while you are just floating in a pool or whatever.
It’s your money that you worked hard for or stood in front of a bus and got a check for either way be smart with it! If you are at stage one of real estate investing you can’t go to stage five overnight I don’t care what or who you buy (slavery isn’t legal) bottom line!
Side note I really enjoy SellPoint and after having found out it’s exact inner workings it makes me realize I was a little too hard on Open Road 3 in review. It actually removed probably my biggest of two complaints. So if you ever get an invitation to it you should at least check it out. Back to Sellpoint though the way it simplifies putting out properties is amazing! You post a property to 40 plus sites and then copy a piece of code and paste it on the bigger sites that are supporting it like craigslist and ebay. It removes the excuse that your piss poor deal just didn’t get seen which is why no one bought it. Yes indeed not every deal is a deal or anything close to one at times.
With all that said I’m going to watch a SIMS 2.o webinar.
So I just had another entertaining conversation with a seller that went so great I’m just stopping for the day. I don’t want to talk to any body I don’t know at all the rest of the day hell maybe the week after this crap.
She calls in to the nifty new 800 number (1-877-918-9559) I let my son answer since he is “helping” while he doesn’t have school and has been begging to take a call he’s been practicing for 3 weeks we’ll pick it up from there keep in mind I can hear the entire conversation on the other phone …
Child: You’ve reached the offices of the Wholesale Knockout King this is the Prince speaking (yes he takes the king thing literally he’s six so it’s okay right? haha) how may we help you?
Psycho: Um what the f$ck are you doing on the phone haven’t ya’ll heard of child labor laws…
Me (jumping in): Take it easy ma’am he is six and just answering the phone
Lunatic: What the f*ck ever…
Me: Okay ma’am how may I help you?
Ms. Potty Mouth: Yes I submitted a property to you via email I’m ______ it’s been over 2 hours (yes she really said that) and I haven’t received my offer yet.
Me: Via email? May I ask why you didn’t just use the submit a property page and if you were at my site you would have seen within 24 hours ma’am.
Ignorant Lady (using this term loosely): I didn’t pay attention to that Mr. Smart Ass, all I want to know how much you’ll give me.
Me: Hang one minute and I’ll check it out and give you a ballpark figure (and the finger through the phone). I see that you sent pictures that will help a lot with speeding this up.
Annoying Bitch: Could you hurry your f#%kin ass up and stop trying to trick me with your business man mannerisms genistures and verniculabry (you won’t see this word in Webster’s)
Me: Those are manners, gestures which you can’t see because we are on the phone, and vernacular and vocabulary are two separate words ma’am.
Stank Bitch: College n$gger you ain’t smarter than me.
…….. ( angry silence)
Me: okay my looking at the pictures and comps this isn’t anything I will be able to work with
Now Irate Piece of Trash: WTF do you mean can’t work with it you buy houses in any condition dammit you can’t tell me this is thirty thousand dollars like I know it is.
Me: You’re right I can’t tell you that because that would be a lie it’s worth five bucks maybe, there are no walls and half of the roof is missing, and on top of that no house has sold for more than ten thousand in the last year at least.
Upset Worthless C#$t: I hope your dick gets cancer!
Me: Talk to you hopefully never bye… click.
This is pure insanity people yet weirdly funny to me. You never know what you are gonna get when you are in real estate investing, but it always seems to be crazier for the wholesaler.
People have always told me it’s not nice to keep secrets, but at the same time why should you have to tell everyone everything? If anyone has a good answer for that I will send you a free book signed by absolutely no one…
What’s the point of the question? ———————————–>
If you want to know my super secret negotiation line that drives even the most hard headed sellers down in price via newsletter in exactly 24 hours! Which is now highly visible and there is no reason for you to not sign up. All current and new subscribers will get digital copies of my 2 favorite books no less. Join the list or get the fist! (Well at the very least not get any of the cool shit)
What or who are you? I know some people who have a problem seeing either themselves or other people as real estate investors, especially people who are just into wholesaling houses. Some say that wholesalers are investors because the rarely put their own money into deals, and because they aren’t holding onto properties. Wholesalers are just marketers blah blah bla f’n blah. Every body has heard the same tired ass b.s. from somewhere whether it be a landlord, rehabber or just some jackass on bigger pockets (which I highly recommend you checking out… go ahead click it I’ll be here when you get back). Yet all those things that are said about people who wholesale the real “big dogs” are exactly the same things also. They are just brave, rich, stupid,ballsy or whatever enough to invest with their own money also (f.y.i. I don’t think its stupid never have actually) . Except they don’t do one thing quite as fast as wholesalers do. Get to motivated sellers with ______ ( I’m not going to tell them haha.)
Anyways lets wrap up this holiday post with the answer everyone wants yes wholesalers are real estate investors no matter how people try to argue it gets shut down with the dictionary. You can’t f#$% with the word of Webster!
Invest-
1. to put (money) to use, by purchase or expenditure, in something offering potential profitable returns, as interest, income, or appreciation in value.
2. to use (money), as in accumulating something: to invest large sums in books.
I’ve been asked that questions a few times since my last “real” post. This was actually gonna be a video post, but the sound was just too bad to use. The picture was great ,but then again why wouldn’t it be it is video of me after all… Okay enough of the self love lets just get started.
First things first though make sure you know how much the property is really worth before you even start negotiating. Why? Because you actually want to make money right? You don’t go into anything without the necessary preparation or you will come out of it defeated! It’s one of the few reasons I hated actually being on organized sports teams growing up, but that is an entirely different story. You have to have a plan in place to succeed bottom line. When I am doing my due diligence I look at things from a slightly different perspective than a lot of people do. I get 4 numbers ready in my head.
Number 1 is the mark where they just finish the phone conversation speaking to the click if you don’t know what that is give me a call and find out. (620-212-4910) That’s my real number btw.
Number 2 is if I know an investor specifically who wants this property (meaning its their area and price range blah blah blah) I will take it at that price with them being the first option.
Number 3 is a good price to market and get a close out of. (optimal #)
Number 4 is exactly the perfect price to get the house at for a quick close to pretty much any investor buying at this moment.
Now with these numbers in place I make the phone call to the lead which came from whatever marketing tool that hopefully they have already told you what it is. (So you know what is really working) I’m not real big on a whole lot of chit chat with people I don’t know. So I just say a few pleasantries and jump right in with qualifying or feeling out process.
I get them to throw out the first number every time. Why? Because you never want to throw out the first number if you do you have lost what little leverage you have to negotiate! Once you throw out a number you are pretty much stuck the only direction you can go is up. Some people are reading this going well yeah duh that’s common sense, but not everyone realizes that if your number is higher than what they even want you are screwing yourself without lubrication! If you have to throw out the first pitch though be better than a President on opening day at least. Shoot them a number that’s below your perfect number. If you want to get to the #3 area with contract price you have to leave yourself room especially if they aren’t far from #1.
Don’t waste your time holding firm for very long to the perfect number, but don’t budge too much from your optimal wholesale number! Why? Because the is wholesale real estate investing! Not putting a bunch of houses under contract like a blind jackass real estate investing! If you want to sell houses for full price get a real estate license. Because it is definitely gonna take you longer than 30 days at the wrong price!
Everything you find out repair wise has to come off of your offer price and you have to use as a reason to justify your offer to the seller. They won’t like it, but then again why would they? It’s a business you can’t please everyone a hundred percent on everything every time or you will be the one left with nothing.
Anyways the point is that if they can’t get into your optimal/perfect zone, or you don’t have the investor in love with the area don’t waste any more of your time with the property. What is the reasoning behind this thinking? It’s the good old magic trick of once you have a final number in front of their face you don’t have to follow up with them twice a month for a year to get them to sell. They will come right back to you when the house doesn’t sell at their bad number!
I value you my time highly so I don’t spend more than 20 minutes at a time negotiating with anybody neither buyer or seller. If you talk for 2 hours and they aren’t moving anywhere near the right price you’ve wasted time that you could have used to call 5 other people! Wholesaling, buy and hold, or whatever your fancy may be not only in real estate investing, but life your time should be important to you!
Wholesaling real estate is a numbers game not just the money, but time also! The least amount of time you waste the more money you can make. Hence the saying “time is money” hasn’t been around for a hundred years because its just so darn catchy it’s because its so damn true!
The 3 keys to good negotiating are:
1. Don’t go over your numbers
2. Don’t waste your time (know when to give up for the time being)
3. Do your homework!/ Have a plan.
Okay your eyes aren’t playing tricks on you I am really blogging 2 days in a row, and this one is even about real estate! I have been busy with lots of different things including talking to some of you via email, phone, twitter, google chat, and Facebook. In the hospital, making movies, et cetera (yeah that’s how you actually spell etc.) and on down the line! Yet I haven’t forgotten any of you or wholesaling real estate during any of all this craziness!
In talking to so many of you it has once again been brought to my attention that for some reason there are investors out there that don’t realize that it’s pretty much mandatory to negotiate. I’m not saying that everyone should take my approach and negotiate everything business related, but you could learn a few things from some tips I use day-to-day. (Personally I use alibaba.com to negotiate prices on everything I use from pens and pencils to the paper for my printer.)
Tip # 1- Every seller you talk to is essentially after the most money they can get.
As a real estate investor when you go to “buy” a house the seller wants as much as they think they can get! Whether you are a wholesaler or whatever this is a fact. They want the most cash out of this asset that they are selling to you. It’s not rocket science! If they realize it’s run down they will say hey I’m “giving it at this price” sometimes that may be the case, but even still negotiate! It doesn’t matter if you only end up squeezing a mere thousand dollars off the asking price that’s where the difference in your bottom line comes from. If you do one house a month which isn’t big time by any means a grand more on your profit each deal is 120 thousand extra in your pocket over the next ten years!
Tip #2- Make sure you pay attention to others negotiations!
Here is something I have noticed throughout my dealings with buyers the one’s that don’t negotiate from your asking price any are usually the one’s who don’t end up buying! I don’t care if you have an in demand “perfectly priced” property and getting your asking price isn’t a problem they shouldn’t just accept your price as the gospel. If this keeps happening and you actually do close them like this regularly then your asking price is too low! It’s not greedy for me to say this the important part of entrepreneurship is having a grasp of the concept that you making money is just as important as anything else! The “freedom” of working for yourself doesn’t mean anything if you can’t afford to pay your bills.
Tip #3- The fear of speaking up will kill your business!
I know anyone who tries to do even part-time investing is actually trying to bring as many leads as they can in. The way I look at is don’t waste any of your marketing efforts! If a seller contacts you and their price is just outrageous try to do a quick negotiation anyways! You have them on the phone or are emailing them anyways why not just “Speak Up” and ask for something more favorable! Even if you hear no at least you heard something! This is actually a scientifically based thing here. For every rebuttal someone hears there will be a reaction and in more cases than you realize that reaction will be the seller caving in quickly to get some actual favorable terms out there!
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