All Forum Posts by: Eric Moore

@Carrie A. I would consider how old your dwelling is.  If your house looks like it's going to need a new roof, water heater, etc soon it may be worth it in the short term to have homeowners insurance to fix those big needed items.

@Ed E. Wow!  I hope it's nothing too crazy.  Do you have homeowners insurance?

@Victor Gutierrez all wise words.  I'll say this: "Live where you want to live. Invest where the numbers make sense".  Don't be afraid to look at markets in the south or midwest that are cash flowing great!

Congrats @Abraham Anderson!!!

@Seti Gershberg I have read that book.  It's an awesome read!

For sellers accepting a deep discount, they truly must have a reason or motivation.  Probate, delinquent taxes, inherited property, divorce, health issues, tired landlord, dilapidated structure, looming foreclosure, etc.  Often times people think it's all about money but it's more so about having a piece of mind for sellers.  

For instance, if your seller is going through a divorce and it's messy, they just want to get this shared asset off their plate so both parties can move on.  So in this example, I would emphasize the speed and simplicity to close fast without any headaches.  If the seller inherited the property and it's going through probate you would imagine they would be overwhelmed.  So I would emphasize how you'll hold their hand through the process and that you have the best team working for them to ensure they have all their questions answered. 

It's not all about all cash, close in 30 days, buyer pays all closing costs etc.  Those are good points but you have to use empathy (How to Make Friends book) to really feel what they are going through to best serve them.  Having them feel as though you are really listening and satisfying their needs will have you more times than not beat the competition.  

@Seti Gershberg then I'd definitely say you don't need to make any formal or written presentation.  Now, I would suggest always bringing a contract with you in case the seller is really motivated when you first meet them.  If you can get the home under contract, be prepared to leave them with a copy.  I personally use the "TurboScan" app to scan the contract right there and email it to them.  That gives them a piece of mind.

Let's say you can't get it under contract, then I suggest sending your written offer in the mail and then following up with some consistent calls.  The letter could be a simple 1 page, professional looking letter that restates your meeting and offer.

Overall, when meeting with the seller you want to listen to their pain points.  What is the true motivation for them selling their property?  Then craft your conversation to be the solution to their problems.  Listen twice as much as you speak and you'll be successful.

Hi @Seti Gershberg .  I typically don't have a presentation for a simple cash transaction with a seller.  We simply go back and forth with numbers until we both feel satisfied with the offer.  Now, if you're doing a more complex transaction like a subject 2 or owner financing strategy then that may require you to write out some terms so the seller can better visualize how they will benefit. 

 Which type of transaction are you referring?

@Andres M. would you mind posting the numbers so we can help you analyze the deal?  In regards to your original question, I love properties that have issues because they equal less competition and typically higher returns!

@Andrew Ashby Congratulations!  I too was an officer (Air Force).  I did some investing before taking the leap and I haven't looked back since.  I'm a Florida native and that definitely is a great market.  Best of luck to you.

@Arjay Vergara Congratulations!  Completing any project in real estate is always an adventure in its own right!  So glad you and the family have ventured into the realm of landlording.  It's truly fun and rewarding as long as you have the systems in place.  Good luck in finding your next rental!