Upcoming Meeting with Homeowner

She'll spill her guts to you

Once she opens up she will expect the same. Start with

"as I mentioned on the phone, i'm a wholesaler who has relationships with several buyers who i beleive would be interested in your property. Thank you for giving me the opportunity to sell it for you.

You've basically answered all my questions, but I would like to be able to speak with you when I have a question and i'll let you know at least 24 hours beforehand when I want to bring someone by for a viewing"

Keep your statements short and to the point. Do not try and over-qualify yourself because the more you talk, the more questions they will ask and if you trip up or sound like you don't know what you're doing,.......dead deal.

Now in the case she doesn't say too much she might want you to list your qualifications, be honest. if this is your first, tell her because you never know what she knows and she could try and trip you up with a term or phrase and all it takes is one "huh??" or "ummmm...." and,.....dead deal.

Tell her "this is my first deal, but I have several agents and investors that I personally kow that will assist me when needed and i'm not afraid to ask questions. Thank you for giving me the opportunity to sell it for you"

First that can happen is you don't get it

Good luck

elix has some great suggestions,i would add that price and repair are a major item as u know and you want a good picture of the repair so that u r not getting into something u will regret.take some pics and get all the expenses from her and i meAN all the expenses!! taxes,insurance, water ,sewer,snow removal,anything that will be an expense.Next i would ask her if she is willing to let you take over payments until u find a buyer.Keep notes of what she tells you for reference later.Next i would ask her if she is willing to owner finance or let you lease option it from her.Try a number of different cases with her so you can figure out what is best for you and her and how motivated she really is.Work the numbers and maybe you can get this for 1000 down or 2000 down and minimum payments only to sublease it to another buyer or sandwich lease for 5000 down and 2-300 MORE per mnth and also like greg murphy sell at a later date for more than you will purchase it for ,for instance you buy at 1000 down and give her 300 per mnth and total sale price is 50000.you sandwich lease it to another buyer for 5000 down....600 per mnth and total price 65 or 70000....your balloon payment may be 5 yrs but the balloon for your buyer is 4 yrs.
you make 4000 down 300 per mnth cash flow and at the end you make approx 15-20000. i did exactly this a couple times already and it works like magic !!!
of course u have to advertise to get an end buyer but this is a way for someone who cannot get a mortgage but can afford a low down and managable pymnt to own their own home.
good luck my friend and lets here how u make out with this deal.
jay

Thank you so much for the wonderful input, elixbrown and jbtoggs. I'll be sure to use the techniques you've mentioned. Upon doing a bit of online research, one of the homes was purchased for 58K in 1989 and the other was purchased, although dollar amount is unknown, in 1971.

Nicole