Pursuing Off-Market Properties with Conventional Financing?

[Alex Gunnerson]

Two weeks from closing on my first property (duplex in Kansas City) and the deal falls through because of a bad sewer scope. Now I am more eager than ever to find the next great deal. With that being said, I don’t want to wait around and try to find something on-market.

After a few weeks of driving for dollars, I have built up a decent list of properties, and now it’s time to pickup the phone and start making phone calls.

However, I am having a hard time coming up with my ‘sales pitch’ for my cold calls. I realize you don’t want to actually sound like a salesmen, but rather, find out how to solve problems for the person on the other end of the phone. With that being said, it seems like the most persuasive selling points for off market properties is “I’ll make an all cash offer!” or “I can close in 10 days!”. I understand how that is attractive, but I really would like to use conventional financing for my first deal, so an all cash offer, or closing in 10 days isn’t really in the picture...

Is there still an opportunity for me to find off-market deals if I want to use conventional financing? If I can’t close fast or offer all cash, am I wasting my time cold calling / sending mailers ? Any feedback is greatly appreciated!

[Lee Ripma]

@Alex Gunnerson - what you'll find is that if you actually do direct to seller marketing is that 1 in 100 people want to sell for fast cash the other 99 want to sell for top dollar. So you can just say I'm a local investor, I want to buy your property, I'm the end buyer not a scammy wholesaler, and I'll give you a fair price. I've bought/listed many properties like this. I've only bought a few that were the fast cash close. There is something I call "the myth of the motivated seller" and it's something sold by folks selling wholesaling courses. Most sellers that are motivated are smart enough to hide it. Anyway, I encourage you to try it. Pay fair prices and finance, totally viable.