Unexpected 1st wholesale call

[Malcolm Darensbourg]

Hey, how's everyone doing? A woman just called me from a craigslist ad I posted about a month ago. I totally forgot I even posted the ad. She says she is looking to sale 2 of her houses. After all the studying I've did on wholesaling I've completely went brain dead. If anyone can assist, what should I do next ?

[Keith Goodwine]

Free leads are the best leads, congrats!

What you absolutely need to do next is to make offers and get these houses under contract.

Disclose up front:
"I am a real estate investor that specializes in moving sales quickly.  I can help you sell your homes in as-is condition, and we can close in a matter of days.  My buyers are highly qualified and can pay cash, so we don't have to wait on financing or underwriting like you would with a realtor.  

What this process will look like is that I will make you an offer, we'll put your houses on contract for me to find a buyer, and then we'll close in 30 days or less.

To sell in as-is condition and to close this quickly however, I make my offers at 30-35% below the current market rate.  Are you interested in selling your homes quickly and in as-is condition?"

If the response is anything but "absolutely not," begin asking your qualifying questions. Why are you selling? Do you live in either of these houses? If so, have you found a new one, or when are you looking to move? If not, are they currently vacant? How many bedrooms/bathrooms/square footage? Have you owned the homes for a long time? Do you own them free and clear, or do you have a mortgage/HELOC balance that would be due on sale? Do you have any other liens or tax debts on the properties that would be due on sale? Have you made any updates to the roof/HVAC/kitchen/bathroom lately?

Then make your offers with your 30-35% discount and repair costs built in.

If she says no, you can counter with a contrasting question - "I don't want to offend you with a lowball offer, but I do want to make sure I can come to a number that helps you meet (motivations for selling) and makes sense for me and my buyer.  What that number looks like for me is (repeat your offer).  What's your thoughts?"

If her response is a number that is at or way above retail (common with unmotivated sellers), suggest that she talk to a couple other people, and that you'll call back in a week to see what she's been able to put together.  It might make sense to bump up your offer if you think it would help close the deal, but otherwise, it might make better sense to just move on to the next lead.

Hope that helps!