The Titanium Vault hosted by RJ Bates III

STOP Using Cold Call Scripts | Embrace Being A Buyer!

• RJ Bates III • Episode 634

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SPEAKER_00:

Hey, so do me do me a favor. Okay. Um, I wanna clean up your your intro. Okay. Um before you got into cold calling. Oh yes. Yeah, you still you still have cold call breath. Okay. So when you call, like I'm gonna give you this lead right here. Cindy's the seller. Okay. Okay. Hey, is Cindy there? This is Cindy. Hey Cindy. Um, looks like you filled out a form on my website about selling your property there in Sumter. Are you still looking to sell that property? Yes, awesome. How much are you looking to get for it? You're very much like, um, hey, I'm calling to confirm that you wanted to do this. It it doesn't, it's just subtle little differences, right? Difference there is is like one, you reached out to me. You're the way you're saying it is, is like, hey, I received some information that you're looking to sell this property, and I'm calling to confirm that. It just comes across as like the the potential spam that I get on my phone all day, every day. So I don't I don't want professional Ken. I want I want Ken that hangs out with his friends on the weekend, right? Are you you watch sports? Yes, yes. All right, talk to them like you're watching a an NFL game, all right? Like relax. I want to hear the the the real Ken. I got you. Professional Ken. All right.

unknown:

Hello.

SPEAKER_01:

Hey, is Daniel there?

SPEAKER_02:

Hello, Dan.

SPEAKER_01:

Hey Dan, this is Ken giving you a call. You actually um submitted a form on my website saying you were looking to sell a property over on McKinley Street. Are you still looking to sell that property? Yes, that is correct. Nice, nice. I'm glad I was able to get a hold of you. How much are you looking to get for that property?

unknown:

95.

SPEAKER_01:

95? Okay. And can you tell me a little bit about what you have going on there? What's got you looking to sell?

SPEAKER_02:

I'm looking to sell up this little house and move to an apartment to lower my costs.

unknown:

That's why I said it's a financial decision, not you know, there's like laid on in the basement or something like that. So I've got some. Um, you know, I'm not looking at the sell in the next week or two or month or two.

SPEAKER_02:

But I'm just you know, looking at my options, like you guys' ads all the time on TV and on YouTube and shit. So it's like you know, just depends on if you actually want to buy the house and pay a fair price. I could go through you guys if you're gonna say it's worth 35,000, then you know it's not worth pursuing.

SPEAKER_01:

Understood. Um, how'd you get to that uh price of 95? I'm just curious.

SPEAKER_00:

All right, so a couple of things. One intro, much better. Okay. Questions, really good. My comments probably steered you in the wrong direction there at the end. I would have liked liked to have seen you tighten that up a little bit. I felt like that was rushed. Um the way I would have liked to have heard you like break that down for him was I'm thinking that if we were to come in and do everything that you just said needs to be done, replace those kitchen cabinets, fix like the funky layout and whatnot, max we could probably get for the property would be 145,000. It just doesn't really pencil out. Um, we would probably need to be somewhere between um 60 to 70,000 and kind of let him then respond because we don't know that that doesn't work, it's just a very strong assumption. But we just want to explain to him like where most investors are gonna be coming in, and then after he says, Yeah, that's not gonna work, say, all right, so if that's the case, that's where most investors are gonna be coming in. If you want to get closer to where you probably need this, you would need to list it with the real and then kind of release them that way.

SPEAKER_01:

Understood.

SPEAKER_00:

So so all right. Um, let's go to one of my highest volume states, Ohio.

SPEAKER_01:

Yes, is is this Melanie? Yeah, hey Melody, my name is Ken. I'm actually following up regarding a uh a message that you sent into my website saying that you were looking to sell a property over on Sproul Street. Are you still looking to sell that property?

SPEAKER_04:

Yeah, I am, but I've already been to get with a real estate agent, so I don't know how that would work.

SPEAKER_01:

Since you've listed it with an agent? Okay. Um, and about about how long has it been on the market while I pull it up here on my side?

SPEAKER_04:

Um couple of months.

SPEAKER_01:

A couple of months, all right. Have you got any offers on that just yet?

SPEAKER_04:

Yeah, I've got a few offers on it.

SPEAKER_01:

Okay. Is there any reason why you haven't taken any of those offers?

SPEAKER_04:

Yes, I do have reasons, but I haven't.

SPEAKER_01:

Yeah. Um well let me ask you this. So, what are you looking to get for?

SPEAKER_04:

Well, why don't you make an offer on it?

SPEAKER_01:

Well, I don't know anything about it just yet. Um, so what can you tell me about the uh about about the property? What's that you're looking to sell? Kim, what do you think you did well on that call? Um, I didn't let the fact that it was listed with an agent stop me from engaging her. And and I tried to dig deeper into why she hasn't accepted as to at least what's going on so far with the listing, as far as from an agent perspective and then from the other buyers.

SPEAKER_00:

Okay.

SPEAKER_01:

What do you think you could have done better? I would say more rapport with her. I think she still kind of had a wall up as the car went on. Um, I think I think that maybe more rapports needed. Um, I don't know if if the questions I asked were the most effective, but I was trying to like the pictures, the pictures I saw up weren't the best pictures. So trying to just get more information as far as her motivation. I don't really know her more. I still don't know why she was selling that property.

SPEAKER_00:

Have you watched all the modules?

SPEAKER_01:

Um, I watched the acquisition and company. I haven't gone through all of them. I did start some of the dispo ones, but I've been JV for dispo.

SPEAKER_00:

Did you watch the the mindset ones? I started there. All right. So, you know, on the mindset one where I said burn it down, and I'm like dancing to Seth Rollins intro music for WWE. Yes. So I need you to like go watch that like every morning because what I'm about to tell you, like I want you to understand I'm being dead serious, okay? Whatever dollar amount you want to make in this industry, you can absolutely make. Like, yeah, bro, you are that smooth. Like you are you're that guy, right? You've got the the natural ability, but then there's there's little like things that come up. The at the end of your calls, I feel like it is uh PTSD from cold calling coming in.

SPEAKER_01:

I I you're you're not wrong at all.

SPEAKER_00:

Like it's like, okay, well, this one's not gonna work out. See you later, bye. It's like it's it's awkward. Like, bro, you're who are you? You're the buyer, right? You're that's your role in this conversation. When she's saying, like, I don't do this, I'm uh I'm a nurse, like okay, I do do this. I can tell you exactly how this goes down, ma'am. You got to tell me what you want instead of just having me guess. She just told you I would have leveraged the fuck out of what she just told you. You gotta listen, right? It's listed for 220 because everybody tells you you list it for more than what you actually want. So you do know what you want. So let's get down to it, ma'am. What do you want? Why do I have to go guess and hope and pray that I tell you the magical right number? Like, what was her energy? Her energy was she didn't give a fuck. What's our energy supposed to be? We don't give a fuck. Like, ma'am, I've got a spreadsheet over here of 50 of you. You got 50 of me just sitting over here? Hell no. No one's told you the truth. I'm sitting here telling you, I will look it up, but I need to know how much you want for this property. How much do you want for this? This little shop. I don't know if you looked it up, but they bought it in 2010 for 25,000. It's a low shack that they put on a vacant lot, it's dirt, so it's next to nothing. What's the other one? The rental property, what's it rented for? How much do you want for it to be done with it? What's the right number that you need to walk away? That's what I wanted to see from you, brother. I am telling you, you have got it. You have got it. So, because of that, and also because Bobby's not here, I don't think she is, you're gonna call another one. And what I want to see is I want to see Ken. Only Ken. Fuck everything else that's ever happened. The only thing that matters is is this call. Listen to what the seller's saying and just be the smooth guy, just like dude, the drastic improvement between the first and the second and third calls is enormous. So, what I want is I want you to get a motivated seller that you go in and you take it from start to finish, all the way across. Okay, because I'm telling you, you have you can do whatever you want. All right, let's find this.

SPEAKER_01:

Hello, hey, is this Nancy? Yeah, hey Nancy, my name is Ken. I'm actually following up because you filled out a form on my website saying you were looking to sell a property over on Ruble Avenue. Are you still looking to sell that property?

SPEAKER_05:

Yeah. You are selling you nothing. What people offer me what I need for.

SPEAKER_01:

I'm sorry, I cannot understand that. Can you please repeat?

SPEAKER_05:

I said you will not come to give you offer me what I need for it.

SPEAKER_01:

Well, how do you know that?

SPEAKER_05:

Because I'm upside down.

SPEAKER_01:

You're upside down on it. Okay, well, um, well, let's start with figuring out how much you need from you you need for it and then let's let's work from there. All right. Because uh, I mean somebody's gonna buy it from you one day, right? Yeah, okay.

SPEAKER_05:

So how much there's ninety thousand on it that's all the apple, and then there was the equal mortgage that I didn't know about, but it's on there 35,000.

SPEAKER_01:

All right, so if I hear you correctly, you owe 125,000 total on that property?

SPEAKER_06:

Yes.

SPEAKER_01:

Okay. All right, and then how much were you were you asking for?

SPEAKER_06:

125.

SPEAKER_01:

Okay, she's looking to get out of that situation. Okay.

SPEAKER_06:

Okay, can you hold on?

SPEAKER_01:

I sure can.

SPEAKER_05:

It's either somebody or the price is on it, or it's gonna have to go to foreclosure or bankruptcy.

SPEAKER_01:

I'm sorry, I didn't hear you say you said they're gonna have to do something or put in foreclosure and bankruptcy. Motion first option?

SPEAKER_06:

Yeah.

SPEAKER_01:

Okay. Well, we're gonna do everything that we can in order to stop that from happening, okay? Um, actually, while we're while we're at it, what are your um your your payments for both of those mortgages monthly?

SPEAKER_05:

Well, that's okay. Um, I paid 956 or 90,000.

unknown:

Okay.

SPEAKER_05:

I've never made a payment on the second mortgage because it's like the second march, fix that's what I need. I didn't even know about it. And I went to Salah, had a buyer, and uh uh it hit the the uh polity, and they told me I owe$17,000 on it. Then they said, well, if you have a$35,000 second mortgage on it that I didn't know about.

SPEAKER_01:

Okay, so if just to make sure I'm hearing you correctly, um you're paying$9.56 per month on the$90,000 loan, and then you were actually already going to sell the property, and and during the closing process, you found out that there was an additional$35,000 mortgage on it, which you were$17,000 behind on. Is that correct?

SPEAKER_05:

Well, in order to sell it, I would have to come up with$17,000.

SPEAKER_01:

Understood. Okay. And um, what had you looking to sell it in the first place prior to you finding out about that?

SPEAKER_05:

Because I want to quit my job because I'm 80, 71 years old. I'm too tired. I think cooking or working the job at more eating. Okay, good.

SPEAKER_01:

So you're looking to uh to downsize, is that correct? Just something that's a little bit more affordable.

SPEAKER_05:

Um whatever.

SPEAKER_01:

I'm sorry, I'm having a really hard time hearing you.

SPEAKER_05:

I just I'm going into a a um senior out here.

SPEAKER_01:

So all right, and then what can you tell me about the um the condition of that property?

SPEAKER_05:

Oh that's very good.

SPEAKER_01:

One more time.

SPEAKER_05:

Um I guess I know home. Got nice forward. Thank you for your hands. Okay, I can floor.

SPEAKER_01:

Okay. All right, and then have you done any repairs to it since you've had since you've owned it?

SPEAKER_05:

The only thing I'm going to install is ceiling fans.

SPEAKER_01:

You said ceiling fans?

SPEAKER_05:

Ceiling fans, yeah. And two beds, three bedrooms.

SPEAKER_01:

Ceiling fans and three bedrooms, okay. You've had it. Oh, you've only had it for about three years, so not too long. Okay.

SPEAKER_05:

Yeah.

unknown:

No.

SPEAKER_01:

All right. Looking at some recent home sales in the area there just to kind of get a good grasp on what's going on there locally. So if we were able to uh to bring that uh those payments current on that uh on that$35,000 loan, uh, would you be fine with us uh from there just kind of taking over the the payments going forward?

SPEAKER_05:

Like I said, this I have never been billed a payment for that$35. What happened is that I fell behind because of COVID. They said, oh, that's fine, Anthony. We can help you with that. We can extend your loan for another 10 years and drop the payments. Oh, that sounded great. I've got my papers. Well, I'm sort of a moron when it comes to this guy stuff. So it didn't great to me. I didn't know what I'm reading anymore, so I signed the damn paper. And I sent them in. Well, they did exactly what they did. They dropped my payment from$1,200 down to 900 and they added on him more years on the mortgage, which makes it$40, 40 years. I sold it, and then when I went to closing, they told me I owed them another$17,000.

SPEAKER_01:

I can only imagine how how stressful that that was for you. You know, you're you're thinking you're about to move on into this this next chapter of your life, and then you get then it this hits you out of nowhere, you know.

SPEAKER_05:

Oh yeah. Oh yeah. I was very excited.

SPEAKER_01:

And how long ago was this?

SPEAKER_05:

Um two months ago.

SPEAKER_01:

About two months ago. Okay, and then ever since then you've just kind of been looking for for another way out of this to where you don't have to necessarily drag this on. Is that correct?

SPEAKER_05:

Basically, yeah.

SPEAKER_01:

Okay.

SPEAKER_05:

I don't want my you know my I don't want my credit to be classified by push LS my credit. I don't want to do that. You know, if I can get rid of it, you know, um, uh then that would be I don't expect to make any money out of it. Because what uh it took me a very long time to finally get somebody to buy the damn voice, but I'll market for like six months. And then uh, you know, like I said, then you figured a commission and all that other stuff for the seller or the bro yeah, the broker, and then uh, you know, it just got it out of hand.

SPEAKER_01:

Well, I'm very sorry that you're that you're dealing with this. Um okay. Um I I would love to be able to to to assist you with this transition um into the senior living facility. Um let me ask you this if I were to send you a contract at your um at that 125 number, uh what would be a good email address to do so? What would be a good email address for me to send you a uh contract to purchase at your price?

SPEAKER_05:

Nancy, yeah.

SPEAKER_01:

All right, thank you very much. Um, so what I'll do then is I'll go ahead and get that sent over to you here in the next few minutes, and um it'll just have you electronically sign it so you won't have to actually print it out or anything. Um let me ask you this have they already um threatened you with an auction date or you're on like a very strict timeline or okay.

SPEAKER_06:

No, nothing's been stated.

SPEAKER_01:

Okay. All right. So um on our contract, what we'll use is a just a standard 30-day closing date for right now. That's just a preliminary date. Um, if we're able to, we will try to move as uh do that as soon as possible, just depending on you know, we'll click back on title and hopefully there's no more surprises there. Okay. Let me ask you this: how how soon would you be um able to vacate the property once we uh close on it? Do you need some time to get your affairs in order? Do you already have a place lined up?

SPEAKER_05:

I have a place lined up, but I'm not gonna be able to live it out until end of November.

SPEAKER_01:

You can't move in until the end of November?

SPEAKER_05:

Yeah, but wait, September, October, maybe first part of November, middle November.

SPEAKER_01:

Okay. All right. And then in the meantime, um so I'll let you know what our process looks like from here, and then we can kind of determine if that works for you. So what we would do from here is once we send that contract over to you, we would then just get someone out there from our team to confirm that the condition is as you indicated uh over our call today. Um, if that is the case, then we'll be able to close within the timeline that we agreed upon. And then we can also provide a um a state for you beyond that until you're able to secure your your um accommodation at the team and living facility. Okay. Um, if the condition for some reason does not match that, we realize that there is more work that needs to be done. We may need to just revisit the uh purchase price. But as of right now, I think that we are in a good spot. How's that sound to you?

SPEAKER_05:

Well, it sounds okay, but I'm gonna have somebody look it over. Absolutely not screwed back here again.

SPEAKER_01:

Absolutely.

SPEAKER_05:

Not just going to sign.

SPEAKER_01:

Understood. And uh just so you know, we do work with opposing attorneys and things of that nature too, so it's not just gonna be you and I. So we'll make sure we have our the legal covered on our side as well. Um, just so that all parties are protected.

SPEAKER_06:

Okay.

SPEAKER_01:

Okay.

SPEAKER_06:

So you send it over, like I said.

SPEAKER_01:

Okay. Sounds good. You should be uh receiving that here, like I said, within the next, I would say 20 minutes or so at the most. All right.

SPEAKER_06:

Okay, sounds good. Thank you.

SPEAKER_01:

Thank you very much. And um, what I'll do is I will give you a uh a follow-up call either later this evening if I haven't if I haven't gotten it back sign, and and then if I can't get a hold of you, I give you a call back first thing in the morning, okay? But we'll be gonna give you a call just shortly.

SPEAKER_05:

Um, like I said, I'm gonna have somebody look it over, so it depends on how quickly you can get some code for me.

SPEAKER_01:

Okay, that sounds good. No problem at all. But thank you again for taking my call, and I'm looking forward to helping you with this transition, okay?

SPEAKER_05:

All right, thank you, and have a good day.

SPEAKER_01:

You as well.

SPEAKER_00:

All right, so let's walk through those objections there at the end and why you think those came out.

SPEAKER_01:

Objections as far as having someone look over the paperwork. Yep. Um, maybe because the idea of us taking over her payments was new to her. And so because she didn't, maybe because it was a foreign concept, she figured that she would need to have someone else mature that it was legal.

SPEAKER_00:

No, I think it's uh I think it's because of how fresh or uh how scripted and unorganic your explanation of the process was to her. I think this is one of those areas where you really gotta lean into the different types of seller that you're working with, right? Um at one point in time, she was emotional to the point of tears. And that's that's when I was telling you, I was like, hey, you've got to really lean in here. Listen, embrace what she's telling you, right? This is one of those calls that probably needs to go somewhere in the 30 to 40 minute range based off of her position, right? Really, you are naturally a fast talker. Yeah, you've got to find a way to slow down, ask more questions, get her credibility through the questions that you're asking. And so there are some questions that you ask, like, do you have a place to go? Yes, I'm moving to an assisted living facility. Okay, when would you like to move into the assisted living facility? What's gonna happen to all of your belongings? Is that something that you need help with? Like really slowing down and embracing like one of has she thought about these things? Is she prepared for this? Right? Getting her to open up on some of this will just be like one question will get you three to four answers that we probably need, and then when it gets down to it, I felt like it was very abrasive when you went from asking questions to I'm gonna send you a contract. There has to be like a transition period here where it's like, all right, I think I might be able to make the price work here, but let's talk about what this process would look like. I could send you over a contract for$125 that would pay off those mortgages, but then we need to come out, we need to verify the condition and see if this fits the exit strategy as investors that we think we might have. Because what I want to send over to her right now is a cash offer. I don't want to go sub two. I I said that in the chat, I think you misunderstood me. Sub two might be the play later on, but right now what I'm seeing is so we've got 1900 square feet, okay. That we have pictures of when she bought this a couple of years ago. Um, it's in it was in really good shape. Honestly, better than most of our comparables.

SPEAKER_01:

Oh, my side, I'm seeing 1200 square feet.

SPEAKER_00:

I know that's but that's not the square footage. Okay, it's 1944. Okay, so then when you look at some other comps that say the same thing, 1200 square foot, but then you go look it up, 1900. We've got a pending at 270. Okay, uh sold at 200. We've got another sold at 200. So the square footage is gonna matter here. This could be basement. Maybe our basement is not livable. Maybe that's the rehab that we need. There's actually some due diligence that we have to do here to determine what our exit strategy would be. And so this is one of those things where I know comping and underwriting is probably an area that you're still trying to grow in. But on the conversation, when you were explaining this, it's kind of irrelevant because I did the comping and underwriting for you. I was saying, hey, let's lot this up because this is what I'm seeing. We go out there, we find out hey, with$20,000,$30,000 worth of work, could we turn this$125,000 property into a$250,000 property, banger deal? Right? So that's what we've determined before we got the sub two. I feel like if we had really slowed down and and like in the reverse rapport section, explain the situation, ask questions. Like, does that make sense to you? Does this sound like something that you would want to proceed with? You did assume the close, but because of who she was and and kind of the what she's already been through, I don't know that assuming the close was the best thing, and so that's what's led to well, I'm gonna read it, I'm gonna have somebody else look over it. I just don't know if she really believed in you in that moment, and so going back to what I was telling you before this call, I think in the world, this is where you are going to have to find a way to embrace listening to what the sellers are telling you instead of what your previous experience was, and and assuming that things are are not going to go correctly because cold calling can do that to you. One of the reasons I don't want people cold calling, right? They say, I gotta get my reps in, right? I gotta get my teeth kicked in. That's the Steve Train old school mom jeans way of doing shit, right? There's a better way to do it where you can actually get this lead and you can listen to these sellers and embrace the fact that we could be a solution. Every single one of these sellers that we're talking to today, lead Zolo fucking brought it today, right? These were great leads that we could be solutions for. It's funny. I saw a comment on here. I think it was Patrick said, You can't close every deal. Can if the the numbers work out and the motivation's there, you know. And I felt like this one was there. I think we can salvage this, we can still get it signed, right? But these these are great learning moments for you, Ken, because I think you are are naturally talented. I think you've got really good just natural ability. You just gotta tighten some things up.

SPEAKER_01:

Thank you, RJ.

SPEAKER_00:

So, overall, I'm gonna get this uh this contract sent out, man. Um, let's keep working day in and day out. Let's get some deals closed. All right, brother.

SPEAKER_01:

Thank you very much.