Seller Call Film Room | URGENCY & LOGIC

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Transcript

Property Details And Rehab Scope

SPEAKER_03 0:03

Welcome back to Stellar Call Film Room, the series where I'm going to show you guys a live seller call, but I want to give you something specific to take away from that call today. And today we're going to be giving you two specific tactics that I want you to pay attention to. First, starting off with urgency. Urgency because there's another offer on the table from either another wholesaler, in buyer, whoever it is, it's irrelevant. What's important is the urgency in which I move on this call, because the other offer is nothing more than just verbal. It's not in writing. There's nothing agreed upon, just a verbal offer. And that buyer needs more time, meaning there's an opportunity for us to come in and provide convenience and speed if that's what the seller wants. So pay attention to the urgency in which I move on this call. Also, if you've ever had our King Closers War Chest training, you're familiar with the seller matrix, basically where we break down the types of sellers that we're speaking to. And today we're going to be talking to an investor. Now, whether or not it's professional or an unprofessional investor, I'll leave that up to you guys to decide. But when we talk to an investor, it is typically a more logical conversation than an emotional conversation. So pay attention to the questions that I'm asking the seller. How much do you think the property would be worth once it's fixed up? How much reap? How much work would I have to do to the property to achieve that value? How did you come up with this number? And then even when I go to get the price reduction from the asking price to the price that I wanted, pay attention to how I navigate that, where it's kind of painful, where it's like, I see how you got to$65,000, but I'd actually want it for less. Now, one of the things that I regularly teach when I teach the closer's formula is the kill shot, where we provide the value. We cover the closing costs. There's no realtor commissions. We're closing your timeline. We're buying cash as is. And then we ask for the discount. What's the best price you can do for me? Now, on this, I don't hit them with the kill shot. I actually just hit them with the number in which I want it at, which is about$10,000 below his asking price. The reason why I do that is because I am speaking to an investor. And so I'm kind of painfully expressing to him that his price is just a little bit off. And I'm not sure if he's willing to accept my lower offer of$55,000. The reason why I hit him with that is because I'm actually anticipating that he's going to want to split the difference and come back to me at$60,000, which is the price that I was willing to sign a contract at. But because I hit him with that, the specific number and leave it up to him, I actually built in a little bit of room to get it at a better price, which I end up do getting it at a better price. So during this call, pay attention to two things the urgency in which I move, and then also the fact that I know that I'm speaking to an investor. So it's a very logical conversation. The questions that I ask about the value, the rehab, and then also making the offer there at the end to get a better price for myself. So enjoy this live seller call film room with urgency and also logic. Hi, is this uh HashMat?

SPEAKER_02 3:37

Speaking.

SPEAKER_03 3:38

Hi, this is RJ Bates. I was calling about your property there on Mount Pleasant. Uh looked like you spoke to someone on my team about selling that property. Is that correct?

SPEAKER_00 3:48

Yes.

SPEAKER_03 3:48

Awesome. How much were you looking to get for it?

SPEAKER_00 3:51

Uh 65, 65k.

SPEAKER_03 3:55

65. All right. Tell me a little bit about what you got going on there.

SPEAKER_01 4:01

Oh, it's uh it can be duplexed. Right now it's a single family, but it can be duplexed too because it has two doors in the back, corner in the front. Uh downstairs, two bedroom, one living room, kitchen and bathroom, upstairs, uh one bathroom, one bedroom, one living room. In a closet, walking closet for the bathroom.

SPEAKER_03 4:23

Okay.

SPEAKER_01 4:24

Yeah. So downstairs in the basement, there's one bathroom, but it's like half-bathroom, uh, and two rooms. It's a full rehab, but you have to do full rehab on the house.

SPEAKER_03 4:38

How much do you think it needs?

SPEAKER_01 4:42

Uh I'm pretty sure it needs full rehab, you know, complete full rehab.

SPEAKER_03 4:47

Like electrical plumbing all the systems or just cosmetics?

SPEAKER_00 4:52

Yes, electrical plumbing all the systems, yes.

SPEAKER_03 4:55

Gotcha. How did you how did you come up with the price of 65?

SPEAKER_01 5:05

Uh there's one guy he wants to buy, but he's a local guy.

SPEAKER_03 5:09

Uh-huh.

SPEAKER_01 5:10

I think he's an investor too, but he's just like uh buying one house, fixing and selling it. And buying another one, you know, fixing and selling it. So that's how, you know, he he put a thousand dollars for me, like I'm gonna, you know, wait for it. Like, hey, you know what? You give me cash, you don't have no contract, nothing. First come, first serve, you know. I'm still holding his thousand dollars, but it's like cash, you know, give me, you know. But I don't know. That's what he's uh he's buying for that much.

SPEAKER_03 5:40

Gotcha.

SPEAKER_01 5:41

So whatever I'm just telling to him I'm gonna say, but I told him that at first come, first serve, you know, there's no contract with him, nothing.

SPEAKER_03 5:50

How long does he need?

SPEAKER_01 5:53

I think he said it give me like maybe like three three months. He said three months, but almost like two months past, one more month left. Gotcha. Yeah, he said every every three months he flip a house, I think.

SPEAKER_03 6:09

What do you think it would be worth once uh it got fixed up?

SPEAKER_01 6:15

In that area, he sold one of the house for 176. It was not even a brick house. And this is also not a brick house, but you know, it's a big house, but uh that house he sold for 176. Uh I don't know exactly, but a few blocks away from my house.

SPEAKER_03 6:33

Gotcha. So this is tech technically already zoned to duplex.

SPEAKER_01 6:41

Um it's like you know, one of those houses that you know it's a duplex, but you can go from inside to have the door from inside, you know.

SPEAKER_03 6:50

Right.

SPEAKER_01 6:50

From one of the living or on one of the bedroom, you know, going door upstairs, you know.

SPEAKER_03 6:55

Right.

SPEAKER_01 6:56

So type of those houses, you can close all of that door and make it duplex. Or you can just leave it as a single family, you know.

SPEAKER_03 7:06

Do the the properties values drop on this side of 55? The highway?

SPEAKER_01 7:14

On this side of the 55, the property values is like the one that mine is on the other side. The other side is good.

SPEAKER_03 7:21

Yeah.

SPEAKER_01 7:22

On this side is kind of like yeah, it dropped. On the other side, the time my houses is I think they're working, the city is working on something like neighbor uh river something, river boulevard or river bluff, something, you know?

unknown 7:43

Neighbor, but it's it's just like they're gonna so they throw on a lot of uh properties on uh when you go south, they throw on a lot of properties like commercial buildings. Right.

SPEAKER_01 7:57

Uh try to renovate or bring some kind of like film or do that thing, you know?

SPEAKER_03 8:04

Right.

SPEAKER_01 8:06

But that's what their plan was because uh right across me there was a church, they demolished that church and they build uh senior living houses.

The Direct Offer And Close

SPEAKER_03 8:18

So you said sixty-five thousand. What if I said I wanted to pay less? Would the answer be no? I mean it could be good, but not too right, because you got that guy, but it's three months from now, you know.

SPEAKER_01 8:37

Yeah, he has only one more month.

SPEAKER_03 8:39

Oh, okay.

SPEAKER_01 8:41

Yeah, he wanna be he gonna think about contract with him, you know. I called him, you know, uh it could be two weeks ago. And I told him I said, first come, first serve, you know, and he says okay, no problem, whatever, you know. But no contract, nothing.

SPEAKER_03 8:56

Yeah. Because I I don't know, I just fifty-five is what I really wanted at, but I I don't know if you're that negotiable or not. How much 55?

SPEAKER_00 9:17

55 is too low, don't you think it's too low?

SPEAKER_03 9:21

Don't I think? No, I don't think at all. Uh I think it sounds just right.

SPEAKER_00 9:30

Let's do for you. Oh yeah, I can do I can do it for you.

SPEAKER_03 9:38

You know what? That sounds that sounds pretty good because it's better than I thought you were gonna say. Alright. I do want to send you a contract. Are you okay signing a contract with me? Alright, what's a good email for you?

SPEAKER_00 10:25

That's gonna take me like uh 10 minutes because I have a home business if I have a meeting right now.

SPEAKER_03 10:30

All right, that's fine. Yeah, just text it to me when uh when you can. Um buyer for Mount Pleasant. All right, I just text you from my cell phone. Yeah, just text me your email address, and then uh and then I'll get that sent over to you, and we'll we'll get it taken care of, okay?

SPEAKER_00 10:53

It's uh RJ Bates, right?

SPEAKER_03 10:55

RJ Bates, yes, sir.

SPEAKER_00 10:57

RJ Bates, okay. Sound good.

SPEAKER_03 10:58

Thank you, sir. Bye bye.

SPEAKER_00 11:00

Okay, bye bye.