The Angry Seller and The Motivated Wholesaler

[Terry Evans]

Hello all!!

Boy, do I have a story to share.

As we all know, the primary job of a Wholesaler is to drive for dollars and knock on as many MOTIVATED sellers doors as possible.

So I was heading to my daily first of ten home visits for MOTIVATED SELLERS. This home is in one of the up scale neighborhoods in Houston, located in the Heights, I typically visit 50 + different homes in all kinds of neighborhoods from the down and dirty to the million + , this one just so happen to be in nice neighborhood, one would expect nice folks right?

WRONG.

As soon as the owner answered the door, I gave the whole " Hi my name is Terry, I would like to speak with you about purchasing your property" and handed a card........ very humbly but confident, as to not put anyone off.

Immediately I get a F OFF and a door closed in my face.

This has happened before and will more than likely happen again.

Now normally I would walk away and cross that one off my list, do not visit, do not mail, however, I opened my mouth and some words were exchanged.

Next thing I know the home owners wife has grabbed me by the shirt and starts shaking me!!!!!!! We continue to exchange words and things were getting heated, so I decided it's probably best to start heading to the car.

Lol, anyway, 4 hours later I get a call from the local PD that I am being issued a verbal warning to not come back to the property. Welllllllllllllllll life goes on right?

I refused to be deterred by anyone or anythingy, Persistence and Consistency.

So the last one I visited that day was a lovely lady whom is the POA for her family's property. and WOW, does she ever want to sell! She was very happy to see me and hear what I have to offer. She is past due on her taxes to the tune of about $200,000 and going to be foreclosed on next month.

I am meeting the homeowner again tomorrow morning to get the 3 lots under contract for $215,000...HOPEFULLY....... and current market value is $349,000 which I will start marketing to builders as soon as the sales contract is executed.

My current primary goal is to do an assignment of contract, however, there is such a spread to be had on this deal, I am going to present my offer to a private hard money lender for receiving transactional funding so I can close on the property myself and sell it the builder, scratch be assignment fee..... Time for a big boy paycheck.

I am really hoping this goes smoothly, it could be a major pay off to fund the start of my re-habbing.

I will keep everyone updated.

Thanks for reading!!!

[Chris Martin]

Hmmm. For anyone reading his post, I'd suggest not getting into any situation where a physical assault is possible. If you anticipate assault, get out. Obviously the OP didn't. The REI business is not worth putting yourself in harms way.

Regarding "She is past due on her taxes to the tune of about $200,000 and going to be foreclosed on next month..." I think it's great you can help her with her tax issue. Getting under contract at $349K for $215K... with a $200K tax liability... not sure how your numbers work.

Regarding door knocking... I always try to put myself below the other person. If there are steps, I put 1 foot on the lower step (a few steps down) and bend my other knee and have that foot on the porch. When they answer, I am in an unassuming position. It suggests non-confrontation....