All Forum Posts by: Carol Ann Reed

I agree completely! I have no intention of reading verbatim from a piece of paper, but just knowing where to start is tough! The first round of calls I recieved took me over a day to return because I was completely frozen in fear about what I was going to say to these people. I have managed to stumble my way through 10-15 calls now and am getting a little less nervous, but it is still difficult to know what to say. Maybe it's just practice and finding my own groove, but all of your suggestions have helped a lot!

Thanks so much! This info helps a lot!

One question for Shane, if you find out the seller isn't motivated, what is the best way to get them off the phone without them feeling like they've been blown off. Obviously, I don't want to burn that bridge in case their motivation changes in the future!

Also, since I have an RE license, do I really want to move on, or should I try to get that sale as a traditional listing instead?

I am appealing to the wealth of experience here in the BP community for some advice!!

I am a brand new wholesaler in Mpls., still waiting for my first deal. I sent out 110 yellow letters to non-occupying owners on Tuesday and got 11 people leaving me voice mails in response! Fantastic! I called them all back within 24 hours and fumbled through an introduction. I managed to get one appt. to go look at a prop, but I don't think there is much of a deal there (but I am happy to go through the exercise at this point just for the experience).

Here is my question. What do you say to these people when you get them on the phone?? I realize that experience plays a big factor here, and that the more I do it, the better I will get, but I'm just not sure of what to say to get them interested in what I have to offer.

My current spiel goes something like this (after pleasantries): Just to let you know a little bit about what I do, I am a local investor here in Rosemount (local suburb close to where the props are located). I buy properties for cash and a quick close or I can buy on terms depending on what your needs are. Then I either fix them up and resell them to new owners, or keep them as rentals. Does this sound like something that you might be interested in?"

In actuality, I am only wholesaling them. But do you tell them that? I want to be as honest and forthright as possible without turning them off or making them feel like they are being hustled.

Also, I am a licensed agent so I need to disclose that at some point in the conversation as well. So far, I have been able to work it in to the discussion about different purchase options (i.e. I can either pay in cash with a quick close, on terms, or I am also a licensed agent so we can list the house on the MLS if you want to go a more traditional route) if the conversation goes that far.

Any advice and words of wisdom to help me polish my presentation would be so much appreciated!

Thank you!

Thanks for the info , Joel. I see Ryan is from TX. Does he still have MN contacts?

Bryan, I am looking for an attorney that is not only investor friendly, but knows the ins and outs of RE licensing. Do your guys have the scoop on that?

Hi!

I am trying to get into the business of wholesaling, but I have a MN RE license. I am trying to find someone who can give me advice on my disclosure obligations if I put my license on ice and/or any other options I may have. If anyone can help me out, please let me know.

Thanks!
CA