Apr 29, 2020
In this episode, Blair and Jeff offer three perfect samples of
how they work out their deals. No matter how difficult sometimes it
may be, there is always a way. One of their main goals is to learn
through their experiences so they can teach you how to make your
money faster!
They tackle various real estate topics. Learn how to approach
sellers in regards to: eviction, them getting a new mortgage,
defaulting on an agreement, reverse mortgages, and land contracts.
Discover how to structure an acquisitionist’s commission and base
salary and how to handle objections.
Finally, acquire skills in marketing for buyers. Always be
cautious as to whom you will put in a house; they must
follow-through financially! Find out about the pre-screening call,
how to respond to various typical questions buyers or tenants make,
how to verify their income, and knowing the screening mechanism
before screening a tenant.
To listen to the full episode go to MoreDealsLessHustle.com
Mentioned Resources:
In this episode we covered:
- 00:00:00 – Start-up
- 00:01:28 – Three deal samples done by Blair and Jeff and
lessons learned
- 00:19:45 – Client questions and comments on three deal
samples
- 00:23:57 – About eviction and trying to get a seller out of the
house; an exit strategy for the deal
- 00:36:06 – About dealing with a seller that is getting a new
mortgage, and when to do subject-tos and wraps
- 00:38:58 – About a client’s attorney wanting title insurance at
closing
- 00:43:20 – About a deal in Kentucky with a traditional mortgage
and a second lien from a medical bill involving Enterprise
Collections from Kentucky Department of Revenue
- 00:58:25 – Acquisitionist commission structuring and base
salary; how to work out the front-end profit
- 01:01:39 – How to find out if a seller has more liens and loans
on a property and finding an exit strategy for this deal
- 01:05:20 – The risks of going into litigation because a seller
has defaulted on an agreement and other ways to approach them
- 01:14:45 – How to respond to buyers who are asking how much we
require down when doing the prescreening
- 01:16:32 – About eliminating buyers because we have others that
can pay more down when marketing for buyers in the pre-screening
call
- 01:18:36 – About verifying buyer income and the screening
mechanism before screening tenants
- 01:23:40 – How to respond to buyers who show resistance to put
a down payment because they depend on loans to be able to do
so
- 01:25:15 – Update of a deal in Florida in which a seller was
saying a title officer was insisting somebody else should be added
to a deed in order to remove them
- 01:28:13 – A client’s first telephone conversation with a
seller involving a reverse mortgage and options to approach the
deal
- 01:33:43 – About a seller who wants to do a land contract and
the meaning of land contract
- 01:36:41 – How to deal with sellers and buyers with
objections
- 01:40:10 – A scenario for a terms deal and another for a
wholesale deal, all-cash
- 01:44:44 – Wrap-up
About Blair:
Blair is the founder and creator of Dealbot, a motivated
seller lead generation company. He has managed nearly $2mm in
marketing spend and generated over 100,000 motivated seller leads.
He also buys and sells houses himself in the Winston-Salem and
Charlotte, NC markets. In the past year, he has acquired nearly
$3mm in cash flowing rental properties with zero money out of his
pocket.
Multimedia:
Thank you for listening!