Presenting the offer

[Sage Jankowitz]

Every time I get a lead I screen it first over the phone. If the motivation and equity is there I'll set-up a time to meet the owner at their property with my GC. While my GC is estimating repairs I'll spend most of my time asking the homeowner open ended questions trying to gauge what other issues, if any, might play a factor in the deal.

After my GC has all the repairs together, I'll spend 15 minutes in my car with the GC and come back with an offer to the owner. I usually explain to the owner that this is the best price I can offer as a real estate investor and I'm not going any lower or higher on that price. After that I simply present my number.

I was wondering what sort of process most of you experienced investors use in following a lead from beginning to offer. When presenting your offer do you prefer to do it in a certain setting? Do you have a shpeel you give beforehand? If so, what is it? Is there anything I can do to increase the likelihood of my offers being accepted?

[Andy J.]

Take more time getting to know the seller. It's not all about numbers, you have to put forth the effort to make them like you. Ask questions about their kids, hobbies you see interest them from walking through their home, what kind of work they do, where they're from, etc... The first task of any meeting is to create a relationship and develop trust. People do business with people they like.

I never bring my GC with me to seller meetings. You should take some time if you haven't already to learn the costs of doing a rehab that way you can do the estimate yourself. People don't like others poking and prodding through their home while you "distract" them. Also, no matter how ugly the house, find something to compliment them on, even if it's not to your personal taste.

Don't give them a number, ask them for their number first. Many time it's lower than yours!!!!!