​2 questions to ask sellers at Closing, 99% don't & leave $$

[David Dey]

So, you're sitting across from your seller. You've jumped all the hoops, you set up your financing, you brought this deal to close and your seller has received his check. You're done, right??

Not unless you want to walk away from hundreds of thousands of dollars just waiting to be claimed.

There are two questions that I ask my sellers that 99% of the other investors out there never ask and as a result do just that, leave countless money on the table.

So what are these two magical questions that, should you ask them, will have you rolling in the dough? (Or at least get a bunch more deals and money)

Well with no further ado, here they are!!

(Drum Roll Please!!)

Question 1: So, what else have you got to sell?

This sounds extremely simple, however there are so many deals that we miss by not asking that simple question.

Just yesterday, we closed on one house in NC and found out that he had a second house in exactly the same situation.

A month ago, a defaulted investor that we bought one house from ended up have six more and as a result, we were able to take control over 7 houses for $1500.

This question applies to the multi family and commercial field as well. After purchasing a large multi family property with an amazing price and terms, with deferred payments etc... I asked the seller the magic question, "do you have any other properties that you are interested in selling?"

"No," he replied. "I used to own 5 other properties just like this but sold them last year." "This is my last one."

Ok, so that one didn't actually pan out, but imagine if I had reached out to him a year or two earlier. I could have bought 4 more properties with these exact price ranges and more importantly, terms.

Question number two: "Sooo, now that we've closed, whatcha gonna do with all that money???"

Raising private money is not 90% about credibility, it's 100% about credibility!!

You're sitting across the table from your seller. You've solved his problem. You've made him money. You have great taste in property. (you bought his) Let's face it, you will never be at a higher point in credibility with this person than you are now.

Chances are he will use some of the money for bills and such, maybe a nice something for himself. Then he will put the rest of it into some kind of investment vehicle, a CD or such.

After he has responded with this scenario and you've asked him what kind of returns he makes on his investments, you then inform him that the transaction you just did with him made your investor 8-10% or what ever amount on his money.

I can't tell you of all the sellers I have converted into backers by starting out with that second question.

So when you've finished your closing, and are shaking your sellers hand, just remember... You're not finished yet.

Hope this helps