All Forum Posts by: Michael Sanders

Sean Dolan, I know this post is old, but what was your results if you recall from the a/b comparison?

Just got it up and running. Will do more editing and starting a starting a PPC campaign.

I know this is an old thread but I just recently found this tread while trying to choose between the 2. I ended up signing up for Investor Carrot.

 HTHouseBuyers.com

Hi,

I was wondering does any investor on here specialize in door knocking "notice of election and demands," late lists, or any other lists?

If so my question is how many doors do you typically have to knock on for 1 deal for NED's, lates, or any other lists? I've knocked on doors before but looking for a ball park number to shoot for before I analyze my results.

Also, whats your approach when door knocking?

Thanks!

Thanks for that reply.

Actually, I have knocked on a few doors, I just know I haven't been consistent enough (probably about 20 doors).

I was just looking for a ball park number so I have something to shoot for then analyze my results.

Thanks for the reply!

To confirm,  you're saying that your strategy was to door knock high equity home owners and door knock them 5 days before the sale because they're more likely to be in the acceptance phase of their distress cycle, and with them having high equity you could work out a deal with such short notice?

Also, how soon would you door knock owners that did not have enough equity so you could get a short sale offer submitted and yet they're more likely to be acceptance phase?

Also, using a ball park figure how many would you say you would have to door knock per deal?

Hi,

I was wondering does any investor on here specialize in door knocking "notice of election and demands," late lists, or any other lists?

If so my question is how many doors do you typically have to knock on for 1 deal for NED's, lates, or any other lists?

Also, whats your approach when door knocking?

Thanks!

Thanks both you guys for your replies and advice. 

Also, Chip I want to than you big time for the recommendation on that book. I went to Barnes and Noble and bought it that same day.

Immediately since starting reading that book I went into reflection mode. This is because my mind LITERALLY made connections to where a lot of money went down the drain because of my weakness in that area, which is not as much talked about. From deals falling through with private sellers, to spotting techniques that were used on me on wholesale fees, and even one seller choosing another investor over me, after giving me the ok, even when I made a hire offer, and now recognizing the technique that investor used to price condition the seller.

I've read Ziglar's Secrets and was starting on Dan Kennedy's Sales Success but this book adds non-dispensible element I that needs to be added.

Hi, I have a couple of questions about sales and negotiating with private sellers. I have done a couple of wholesale deals before, both with private sellers, but feel like sales and negotiating is one of my stumbling blocks. I am currently studying the subject of sales and negotiations in more depth.

When negotiating and selling with motivated sellers, I tend to run into sticking points with the sellers, and would like your input on how you would tackle some of these as I'm sure there is someone out there thats already mastered these areas of negotiating and sales.

Situation 1- The buyer having a retail number in there mind even though the house is outdated, and trying to sell the value of the all cash number.

For example a lead that just came in today called looking to sell his house because his long term tenants of 9yrs are moving out because one of the tenants had a stroke. They informed him that they will be moving out by end of month and won't be paying him anymore rent. The tenants before that rented for about 20yrs. He also says he hasn't seen the inside in 9yrs. When asked the basic wholesaling 101 question, paying all cash... closing quickly... whats the least you'll except... he said, well a realtor that he spoke with said it could go for 120- 130k. That's pretty much retail for that house in that neighborhood. Now I'm almost positive that after a 20yr tenant followed by a 9yr tenant the house is gonna needs some work. 

My question is what is your method in offering the standard 70-75% minus repairs offer "when the retail number is stuck in the head" of a motivated seller head, and explaining the difference between cash value and retail value? 

I feel like I have the worst time when a property is "functionally" in working order, but seriously outdated.

Situation 2- The seller wants to get rid of a "problem house" and even made me an offer to sell pretty close to what I could pay for it, but doesn't know how to get family out

This lead is a little tricky. Call came in that a daughter wants to sell house that she "jointly" holds title with her mom. The daughter is out of state, the mom is here in town, and she says that the house has become a problem. Her situation is that what seems to be a "problem" brother is living in the house and they can't get him out. Another brother of her's recommended that she sell the house to be rid of the problem. I go 2 weeks without being able to reach the seller and then when I finally do get a hold of her, she apologizes for me not being able to reach her. She updates me to the situation and says that now her mom, who jointly owns the house, has moved back into the house. She explains that the problem with that is that her mom is elderely, and that her and her family is trying to convince her to move with family where she would be tooken care of, but is having a hard time convincing her. What would you do in this situation?

To all the salesmen, negotiators, and problem solvers, how would you handle theses situations? 

I know the second one is more unique and sensitive but the first one I know will continue to run into with motivated sellers and wanted to what other investors methods were.

I had my realtor right my offer as private financing instead of cash to avoid to avoid the 10% down.

Also, I have a proof of funds letter from a well known hard money lender in my area.