Making the deal happen

[Jeff Johnson]

In my last post I asked in detail how to find sellers and good deals. Now I want to focus on how to approach a potential customer. When trying to buy directly from a home owner how do you generally go about that. It would seem many times they are probably going to be very stressed and very leary of any investor coming to them about their home. How do you address there worries?

Once you have addressed that what is your general strategy for making the offer. I am guessing you probably have 2 or 3 options you would throw at them. I would love it if people who do this would give some details on how they make the offers and if possible a step by step account of how the deal really works. Things like seller financed and subject to are still a little confusing in the details. I get the idea behind them, but need to see from start to finish how one would go about setting up a deal like that and how to present it to the home owner.

I know I am asking for a lot here. But the more details I have the better I understand. And the faster I can get going. Need to get out of my Job as soon as possible. Its slowing taking extra years off my life.

Thanks everyone.

[Norm Chrostowski]

Jeff, I've been told, get VERY good at ONE thing first. Learning Sub 2's, lease-options, and all the other ways of providing a homeonwer with a solution, can take a good amount of time to REALLY get an understanding of all the ins and outs. Talk with Ryan Webber, I bet he'll say it took a lot of time and learning, to get where he is at with wholesaling. Or Nick J. with regard to Sub 2's, I bet his answer would be the same. There's a LOT to know about one specific subject, let alone 3 or 4.

I would say pick an area of RE. Whether it be wholesaling, Sub 2's, L/O's whatever. Get to be an expert in one area first, then move on to further your RE education, and become a master in the next area...make sense?

How do I know? I was in this very situation. I thought if I didn't know all these "solutions' I'd be potentilally leaving deals on the table. Believe me, it too much to learn right away or all at once.

IMHO

Norm