House Jackin’ 2010

It’s your Residential Real Estate Engineer, John Glover, back again with House Jackin’ 2010……….

House Jackin'

 

“Danger, Danger, Danger Will Robinson Danger”….. Remember that….. Some of you younger wholesalers wouldn’t. It comes from a TV show years ago.  A robot would give a warning to the space family he was with when something big was about to happen.

Danger, Danger Wholesale Investor Danger….. Well, here is your warning. In this edition of House Jackin’ 2010 I’m going to give you something that will make big things happen, maybe good, maybe bad.

THE GOOD: If you do this you will almost never have to worry about being able to locate an owner of a property again. It will help build your buyers list, this is always a plus. It will send potential home owners and investors your way.

THE BAD: What I’ll give you does not sit well with some investors, but hey I’m willing to do what many others are not and I believe that makes all the difference in my success. Let me make this perfectly clear….. I am not promoting you break any laws in your state, county or city so make sure you check the laws before acting on what I’m about to give you. I don’t want you getting into trouble; I want you to dominate your market so you can come back and share your experience with me later.

Are you ready for this ground breaking, edgy method that has placed so many wholesale deals, buyers and investors in my lap each and every time I have used it?

Ok, here is the skinny on House Jackin’ 2010.

In previous editions of “House Jackin’” I showed you the types of properties I target, how I leave my card on the door and how I deal with the “For Sale By Owner” (FSBO) signs that seem to stick around month after month. I also gave you a letter to send to the listed owners as follow up. Well……

Let’s say you have a property you want to target and you have tried everything you can think of but for the life of you, you can’t make any contact with the owner on record. This may not work so well with out of state owners.

If you are like most wholesale investors you have purchased a few bandit signs and some of those “FSBO” signs also. Well, here is where you can knock the dust off of the FSBO signs you purchased and put them to GREAT use.

Take your FSBO sign and place it in the yard of the house you are targeting but can’t locate the owner. Do this late at night so nobody sees you. One of two things should happen.

1.      A call from a potential end buyer, thus adding to your buyers list. A call from another investor (rehabber, landlord, wholesaler) increasing your wholesale buyers list.

• When you get the call from these folks take their information and let them know you will get back to them. You should have done your preliminary research on the property, that way you can give them some basic info about the house. If they start asking about repairs just tell them “that is still being determined.

2.      You will get a phone call from the owner of the property either explaining there is some mistake because your sign is in their yard OR, the owner will be cussing you out and yelling “what the hell is your sign doing in my yard”.

• Here is where potential trouble may lie. Because you don’t own or have a contract on the property you can’t do anything with it. So, remain calm and tell the owner “my guy must have made a mistake and placed the sign in the wrong yard” or “I had a few signs come up missing, maybe some neighborhood kids stuck it there”. Then ask the owner if they’re currently at the property, if so you would like to meet them there so you can retrieve your sign and apologize in person. Ask for the address (don’t forget to do this), it makes your reasoning for your sign being in the yard seem real because you’re not aware of where the property is located.
• At the house introduce yourself, get your sign and explain what you do. Ask if they would like to sale the house since its empty. By this time the owner should have cooled down and you now have a face to face meeting with the owner you were having such a hard time locating.

Wow! House Jackin is good. Make sure you have contracts in your car and you already know your ballpark figure you’re willing to offer just in case the owner is willing to play ball. Get in to see the property and take care of business.

Happy House Jackin’

 

For more detailed information visit Toledo Investment Deals Blog