All Forum Posts by: Michael Batts

Hey @Jarrett James, Thanks for the Warning. However, I do not call as a Telemarketer or Seller of anything. I call as a regular individual simply asking if they'd consider selling their property.

The do not call provisions of the TSR cover any plan, program or campaign to sell goods or services through interstate phone calls. This includes calls by telemarketers who solicit consumers, often on behalf of third party sellers. It also includes sellers who provide, offer to provide, or arrange to provide goods or services to consumers in return for some type of payment as part of a telemarketing transaction.

@Ned Carey | Thanks Ned, I like that idea a lot. I've been taking too much time trying to draft the perfect Letter of Intent for potential sellers. I think I'll stick to the simple method. Do you think this is too formal? 

Dear _______ ,

Thank you for taking the time to speak with me regarding potentially purchasing your property.

Based off the information that you shared with me and what I was able to gain on my own from the local market reports; I'm prepared to buy your property in one of the following options:

Option 1: Purchase Price: $__________  All Cash.

Option 2: Purchase Price: $180,000 Down Payment:

Terms for remaining balance. Seller to carry back balance ___ % APR. Interest only monthly payments of USD ___ with full balance of USD _____ due in ___ years.

Option 3: Purchase Price: $ Down Payment:

Terms for remaining balance. _____ monthly payments of USD _____

Hey guys,

Any advice on sending multiple offers in a Letter of intent? This is the first week I'm implementing this technique in my business, a lot of investors have been closing a lot more deals with this method.

I want to present the motivated seller with 2 offers. 1) based on All-Cash Offer & 2) based on Terms.

EXAMPLE:

Option 1: Purchase Price: $150,000 All Cash.

Option 2: Purchase Price: $180,000 Down Payment: $3,000

Terms for remaining balance. Seller to carry back balance 5% APR. Interest only monthly payments of USD ___ with full balance of USD $175,000 due in 3 years.

@Aaron K. | Yea.. You're right Aaron, I've got to figure a way to make the calls warmer lol!

Soo...I've got a tax delinquent list. I've been going down it making cold calls asking the owner if they'd be interested in selling. Some lady got sooo mad, she cursed me out and said I was harassing her. Mind you, this was my first time calling this list. She ended the call screaming "I'm calling the cops"!! 🤣 I'm like WHOAAA.. I just asked you one simple question that literally required you to say "Yes or No". Has anyone had this happen to them or is it just my luck?

Hey BP Fam! Happy Friday! 

So, today was my first day driving for dollars. Made a list of distressed looking properties. Skip traced them & Called.

3/15 on the list want to hear my offer on their property. I'm now back at home creating a LOI (Letter of Intent) to send to each homeowner. I was wondering if I can include multiple offers in the LOI. I'm a wholesaler, so of course I make Cash (Low-Ball) offers, but I also want to make Seller Financing & Lease Option Offers if they'll work with me on terms.

Just wondering, could I include all the offers in one LOI or should I create a LOI for each offer?

By the way, I'm in TX.. (No Sandwich Lease Options)  So.. if anyone has any extra advice on assigning/wholesaling lease options; I greatly appreciate it!

Trevor, all you need now is a Skip-Tracing Service. NeedToSkip.com for example. 

If you're on a pretty strict budget, you would probably come out cheaper hiring a VA to skip trace your leads. (Upwork.com, PeopleperHour.com, etc.)

Good Luck ! 

@Kevin Wood - Thanks for your response. That is awesome! You wouldn't happen to be talking about Mr. Jack Johnson, would you? He's pretty much the expert of lease options in Texas. Thanks to him, I've pretty much got a grasp on getting lease option deals done. Let me know if I can help you with anything! 

@Cody L. | Cody you are hilarious man, I definitely admire your courage & common sense method of doing business. It's pretty funny how complicated we make simple things. I'm sure if everyone handled the tenant buyer with the same morals as you, we wouldn't have nearly as many restrictions.

Seems like my best bet is to stick with wholesaling in Texas & only use the Lease Option method in other markets

@Jenna Zebrowski Thank you for your response! I'm definitely looking for an alternative method or maybe I'll look to other markets (cities) where it isn't nearly as complicated.

@Jerel Ehlert | I'll definitely do that. So, in your perspective, It'd be a waste of time to lease option to a Tenant Buyer due to all the restrictions. However, It may be worth it to do a wrap (going to have to research what this is) with the seller then assign to another investor?