Starting out in the Houston area

[Japheth Grimm]

Well folks, we took the first action step in starting up our REI family business. @Kristi Moore and I started sending out our mailers yesterday and will be sending more today. For now, we're looking to wholesale properties but plan on securing some holds in the process to get that passive income going.

Any pointers for when we receive the first call?

[Eric Black]

Hi Japheth,

Congratulations on getting started, that's half the battle.

Pointers for your first call?

1.) Return the call the same day, as soon as possible after receiving it.

2.) Know what you're going to say and what questions you're going to ask before you get that first call, but practice so you don't sound like you're reading from a script.

3.) Don't jump right in to asking about the property, how much they owe, how much they're willing to sell for, etc. You have to establish a connection and rapport. Find out as much as you can about them. When you ask a question, shut up and listen!

4.) Expect to stammer, stutter and screw up. We all do/did/have/will.

5.) Expect them to be angry, defensive, insulting and offended. These reactions don't mean they're not motivated sellers. Most won't be but just because they have one or more of these reactions doesn't mean they're not.

6.) Remember it's your first call and it probably won't materialize into a deal. Either will the next 99 out of 100.

7.) Record the call if you can (your voice only). Then you can go back and listen to it later to see how you did, where you need to improve, etc. Don't record the caller unless you inform them at the beginning of the call, but that may scare them away. You're only interested in hearing your voice and your reactions. You'll be surprised what you didn't hear yourself saying and how bad you sound the first few times. Count the number of ugh's and um's. :)

Best of luck!