Making Quick offers While Cold Calling

[Micah Haworth]

Hey BP,

I have recently started cold calling with the hopes of finding some deals to Wholesale. I'm about a week in and have noticed a consistent problem I have come across. I am not able to come up with a quick offer as I am calling about 50-100 people per hour. Its been rough. I typically try to use Zillow's Zestiment (which I know is flawed) but Zillow doesn't always have one available. Which leaves me scrambling to copy the address onto redfin or something by which time the lead gets very frustrated and begins riddling me with insults. I am not at a point with my knowledge of the market where I can confidently come up with offers without reference.

Defiantly not feeling at the top of my game but I am determined to get better. What methods do you use to calculate offer prices on the fly? 

Many thanks in advance for your support.

[Lydia R.]

@Micah Haworth You should absolutely not be making people sight unseen offers over the phone with no due diligence at all. Any seller demanding that is not serious about selling at a discount. You are giving the power to the seller when it should lie with you. The first thing you need to do is to correct your way of thinking. Every seller is not a deal. You are looking for sellers that have to sell, not those who are tire kicking or looking for retail. This is like online dating. You cant swipe right on everyone lol. Most of the people you call wont be deals. You are looking for the few that are willing to sell at a discounted price. Those who are experiencing some difficulty that makes them willing to exchange more money for the convenience of a quick sale. Or a seller that is experiencing a particularly challenging situation: probate with 13 heirs, fire damaged property with no insurance, foreclosure in less than 30 days, Massive IRS liens etc. The more complex the situation the more likely the seller will need an investor to come and solve their problems. So remember that when you are making these calls the people demanding an offer right now are not serious about selling. Dont believe me? Ask them what they would take. Tell then if they name a reasonable price you will pay it. See what happens. My point is, dont stress out over people that have no intention to sell to you. Start looking for those who truly want to sell.