Received First Call !!

[Julian Robinson]

I just received my first potential seller call from the 1st Direct Mail marketing campaign. The family had been trying to sell their house 3 years for about 5 years, but were forced to rent it out every year until the present due to the listing passing. As we progressed through the phone call he informed me that the house was in a contract with a project manager until the lease with the renters is up in October. 

I informed him that we intend to work around Broker's and Agent's to avoid commissions among other costs, along with potentially souring a relationship with one who could work with us in the future. He informed me he was in fact interested in selling the house, but we would have to wait as time gets closer to the contract ending;  as he would like to put the invested money from the home into a different investment. 

In closing we agreed that I could keep him on my list, to contact him closer to the date the lease ends, and  we can negotiate from there. 

Any advice on what to take from my 1st call, what should be done from here, what could be done better? 

[Kenneth Z.]

Correct me if I am wrong here other investors. I would have got an appointment to check the condition of the property. You could also potentially get an agreement signed with them to purchase implementing a clause that outlines that the current property management contract expires before close of escrow. This allows you to tie up the property and make sure that they don't go sell to someone else. If you don't get the contract you will have shown a deeper level of interest then most other investors that just call.