Questions to Qualify an Investor (LESSON 2) REAL ESTATE ACADEMY

You wrote that you are confused and aren't sure how to ask those questions. We'll the best part about being an investor is that the person on the other end doesn't know you from the next person so speak with confidence and just let that person know that you're passionate about what you do and your passion is real estate.

All you have to do is just talk to the person like you would talk to a friend and causally ask the questions you wrote. Before hanging up tell that person that you come across great deals often and when you find a property that matches their criteria they'll be able to take a look at the property to see if they want to buy it. You're doing great!

Sphony,

I read this scenario (or one very similiar to it) in the book "Profit From Real Estate Right Now" thought I marked the page, but can't find it. If you have the books scan it to find it.

Let me try to answer some of these questions like I'm the person you are calling:

Would I be intestered in more properties? Yes, if you could locate more 2-3 bedroom homes, located near the water, with at least twelve hundred square feet, under eighty thousand...that would be great.

(See I've already answered three or more questions with just the first questions asked...take fast notes so you can repeat the highlights of what was said)

I think the hard part of this lesson is it that it is a cold call?. I'm not in the academy so not sure if what I'm providing you will is going to help...but was worth a try.

Good luck and much success to you!

Alright thanks. I'm going to try calling some tomorrow, sorry I'm just nervous when it comes to cold calling people. The people I'm around don't make it any better because they think I'm involved in some type of scam.

Ok, so you don't have props for sale nor do you have money, No big deal. What you are doing now is setting up your buyer list of potential buyers. Getting this list set up is a very important step in the whole process. Hey you could go on to Craigs list right now and find a deal that you could handle.
So many times on this site students skip parts of their training and then find themselves in a situation that they don't know how to handle and panic, WHAT DO I DO NOW. So, set up your buyers list according to what your coach is telling you and get ready to find deals for them.

You might want to consider joining a real estate investors club, which would be a great asset to you in finding buyers. This way you network with them, ask questions and build a foundation for a working relationship with them.
It will all come together for you. Just stick with the Success Academy, read, read and read. Good luck to you...Jan

After you make a few calls this will get easier for you. I discovered that serious investors do want to take the time to talk to you and let you know what they want. Some (many) like to share their knowledge and want to see you succeed. When they don't take the time to let me know their criteria it tells me they may not be that serious about buying properties.

Imagine that you find 10 buyers all wanting 3/2's. Then imagine a bird dog brings you 3/2 leads? How cool would that be? It would help you to help your buyers. This is how the serious investors will view you. Make sense?

Go get em!! and please keep us posted.

Lea
SPR Property Solutions, LLC

Thanks sphony.

These are great questions . The idea is to exude confidence , while building rapport with the investor. This should go just like a normal friendly conversation .. After all you are creating a win / win situation where you and the investor make money ..

Best of luck ..

Randy S.
Elkton , MD

So anybody here got any suggestions on who and who not to call? I called a few people that I jotted down. I got shot down by a few because they said they only do business with real estate agents. I was able to get one guy that said he will purchase any property that I throw at him but he hung up during the interview because he had a incoming phone call.

You can look for ads or bandit signs that say "We buy houses" or "We stop foreclosure". Those are ads being run by investors. Call them to see if they would be interested in working with you. If so run through the questions so you can specifically look for the type of property they desire. Emphasize that you are bringing value to them because you are able to find deals that will be profitable for them. Find a local investor club, a great place to find those buyers you are looking for.

Never ask this question. You area in control of your wholesaling business and profit on each deal. Never loose control to these investors. They will have you working for pennies if they thought they could tell you how much you can make on a deal. Stay in control of your business.

The hardest part about making calls for me was sounding confident. So I practiced talking to myself asking the questions until I felt I knew what I was talking about. Perhaps you can find someone you can practice with such as a DG family member. I would be glad to help. Send a PM and we could exchange phone numbers. Keith Success be with you!

So once you have your buyer's list then you should place ads to make your seller's? list? and once I get some motivated seller who are ready yo go, and then you lock them up in a contract, and find a buyer for the property, is there anything else someone can tell me about these assignments and birddog deals.