My sales pitch---feedback wanted

[Scott Martinson]

I own 4 Duplexes and 1 Commercial building.  I've been listening to BP Podcasts for over a year learning a ton about RE.  I realized my landscape and lawn care business could be a source of leads.  Sure enough last week an older gentleman was having me out to bid a job. His house is structurally good, but needs updating.  He seemed a bit dejected.  Long story short I made an offer on his house.  My gut feel is I have a better than 50/50 shot at getting it.

I had never pitched a person to BUY their house.  It seems like it should be the other way around!  My conversation with him revolved around the following points:

1)  I could close in a month (I'm not a cash buyer--that's when he was hoping to list which is unrealistic considering the amount of work).

2)  I would buy the house as is (he wouldn't have to worry about inspections and hidden costs)

3)  He wouldn't have realtor fees or seller concessions at closing

4)  He would be able to just move without all the stress of trying to do the rehab. (I tried getting on his side--you know how picky buyers are these days--he agreed)

5)  We talked a bit about the major points of repair on his house so I could make sure we were on common ground (make sure he had a realistic idea of extent of rehab). 

6)  I gave him a "Net Price" (I'll pay his closing costs)  I wanted him to understand his NET very easily

He is seriously considering my offer.  He thinks he has another guy that might be interested, but my hope is he's not viable.  A)  He just bought another flip.....hoping he doesn't have the money or capacity B)  He suggested he wanted to do a contract for deed.  Not sure he can pull that off since the house has a first mortgage.

Considering I had never done a meeting like this I think it was a success.  He didn't laugh or swear at me.  He told me he would get back to me by Friday.  ( I had a contract and tried to write it up).  He actually seemed relieved he might not have to do all that work.

Any thoughts or feedback would be appreciated.  I'm hoping I can find a deal or two like this each year from people calling my landscape business to get work done.

[Gino Barbaro]

@Scott Martinson

Hi Scott

You should approach a property with the intention of providing value to the seller.  He appears distressed and wants out.  It seems to me as if you have provided him with solutions.  Let him know that you have credibility and you have a portfolio of real estate.  Assure him that you are a closer.

If you create a win-win for both parties, then your chances of success skyrocket.  Just make sure you get back to him by Friday.  Time is always of the essence in these types of deals.

You will be able to find more than one or two deals per year if you actively look for these deals

Good Luck

Gino