I have kept my yellow letters going out to absentee owners despite only doing 1 deal this winter. I had spent several thousand buks and I was getting a bit discouraged. I decided to spend my down time learning how to sell. I got several great books.
Finally, One lady called and said her mother had passed 11 yrs ago and her brother in law was living in the house and the sister was now in a care facility and she was thinking about selling.
When I went to the house I noticed it was a cute little 2/1 800 SF and in a lower income area but was still really nice with clean streets and mature trees.
I knocked on the door and it took 5 minutes for this old hermit looking guy to answer the door. He was friendly, but living in squalor, the house was trashed, a water cooler was leaking right thru the bathroom and the ceiling was half missing, ther wer buckets of brown water and it looked like the shower hadnt been used in decades. The walls and ceilings wer yellow from cooking and cig smoke. The floors wer in bad shape from the 2 dogs that were living in the house with him.
He was a hoarder, he had a narrow path to the couch in the living room and the bedrooms wer full of junk.
Whats funny is, in all of this mayhem and filth, he had a gorgeous new LG 55 Inch LED 3D TV. I asked him is that a 55 inch? he said yes it is, I told him, u got me beat, I only got a 47" He laughed and I noticed he still had a few teeth left.
The seller wanted 30K and the ARV was only 55-60K and it needed 15K in repairs minimum. I sent a few photos to one of my buyers, he said he wud pay no more than 18 for it. After a week he emails me to say he wud pay the 30K I asked him if he cud do 32,500 so I cud make a little. He agreed. I had just finished reading my books on salesmanship and negotiated the price down to 26K with the seller over a 2 week period. I actually wud just call her and let her talk, I even got her to laugh a few times. She told me her life story and all about her mother that died that lived there and some of the fond memories she had.
I emailed and told my buyer the deal was wrapped up and ready to go. the price was still $32,500 The buyr went to the house within the hour and looked it over and emailed and said we cud start a 10 day escrow tomorrow.
I emailed him my assignment of contract which clearly spelled out that I was making $6500 As expected he didnt like me making more than $2500 he sent me a nasty email that he cudnt trust me and to delete his info. Ha ha I sent him an email an told him he was missing out on a great deal and to giv me a hug u old grouch.
I just got the house on contract today and I got 90 days to sell this little diamond in the rough, Im betting I can get 35K or maybe 38K
Keep a sense of humor and never give up. Let's make some money. Rando
Rando
I have had some funny ones as well my friend (man passed out in kitchen while i was doing the deal, smacked him to get him back)so I know what you are saying. Public speaking ranks right up there with all this too. I just picture them in their underwear and I am good. NOW GO GET SOME
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266
My first buyer was outraged that I bumped the price up to $32,500 and I was buying the house for 26K I emailed my next buyer on my list, he went over and said he thought it needed more than the 10K in repairs that I estimated, but he liked the place.
He asked if the price was negotiable? I told him I had this house on contract for 3 days now, I got it listed for 38,500 on craigs list and Im getting a bunch of calls. I told him, how bout we wrap this up at 32K and its yours.
Were meeting tomorrow morning to sign the papers and start escrow.
It's really excititng, my 13th deal in less than a year and a half. I'm getting better at this, I have learnd so much, Im still buying courses and books, learning sales techniques, marketing. I got a few lease options deals that may go thru. I got a hand full of bird dogs sending me leads and a new RE Agent that is really motivated.
Let's make some MONEY. Rando
Rando