Investor · Fort Lauderdale, FL · Member since 2015 · 172 posts · 30 votes
Good Morning BP,
I was excited today when I received my first response from my recent direct mail campaign. Being a newbie to REI, it was a good feeling receiving a message from a motivated seller who left her name, number and the property address on my Google voice number. I was able to speak with the home owner today and was able to gather some needed information in order to put this potential deal together. Based on a questionnaire I was able to put together for motivated seller's, I asked the seller if I could stop by and see the property this week.
Once I get to the home, what is the first thing I should do to make sure the home owner doesn't feel that I am trying to take advantage of her? The homeowner mentioned during our conversation that other investors have made offers on the property in the past, which she felt they were trying to take advantage of her. After I got of the phone with the seller, I did some more research on the property and found out the bank has recently filed another Lis Pendens in January on top of being two years behind on the property taxes.
Residential Real Estate Broker · East Orange, NJ · Member since 2014 · 297 posts · 26 votes
11y
@Courtney Merricks My best advice to you is to always make your conversation in relation to the market. It is never you vs the seller always the seller and you against the market. You have to present the whole scenario to the seller and show her what makes sense for you as an investor. You can give her the price she wants on your terms or the price you want on her terms. That is a fair negotiation. Hopefully this is helpful. If you have anymore questions please let me know.
Investor · Fort Lauderdale, FL · Member since 2015 · 172 posts · 30 votes
11y
Gilbert,
Thank you very much for the advice. I will definitely make sure I keep that in mind when negotiating with a seller. Also, thank you for the invite to ask many other questions, I know I am going to have.
Investor · Morrow, GA · Member since 2015 · 35 posts · 8 votes
11y
I would try to establish common ground on any almost any topic and use that to build rapport. This builds trust and can break the ice for you which will ease your nerves when communicating with the seller.
Figure out what works for you both and try to get it under contract.
Investor · Fort Lauderdale, FL · Member since 2015 · 172 posts · 30 votes
11y
@David Martin
Thank you for that advice. I actually met with the seller this morning and I was able to do just that. With the both of us being Christians, we were able to find common ground and build rapport based on that fact. She did state that she wanted to go through with the deal, but I informed her that we would have to make sure her Ex-Husband is on board and I had to finish working all of the numbers before we can move forward. So I asked if she can give her ex-husband a call sometime today and see if we can meet one day over the weekend.