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In Episode 21, our “Spokane Project” client Danny, is very close on two deals and about to close one of them. In the “Market Recap” Segment, Tucker talks about RMLS Action report as well as a news article and then reflects on his local market. In the “Deal of the Week” he goes into detail about a high-end rehab project that is currently in process and how the neighbor has been a nightmare. In this weeks “Main Topic” Tucker covers the Top 5 most asked questions by motivated sellers and how you should answer them. In our most popular segment, “Direct Mails Greatest Hits”, we share a voicemail that one of our Listeners Sean sent in. Tuckers “Golden Nugget” for the week is about Wholesaling to Builders and Developers and what the best strategy is. In the “No BS Zone” segment, he talks about some recent news from San Francisco about a proposed tax for house flippers. Tucker then ends the Episode with a great Success Quote from JD Houston. We hope you enjoy this episode and please leave us comments and reviews!
Episode 21 Segment Notes:
- Spokane Project: Danny is about to close a deal!
- Market Recap: RMLS Report, News Article and Local Market Info
- Deal of the Week: Current High-End Renovation Project with Neighbor Issues
- Main Topic: The Top 5 Seller Questions We Get and How You Should Respond
- Direct Mails Greatest Hits: Another listener sends us a great voicemail message from direct mail
- Golden Nugget: Wholesaling to Builders and Developers
- No BS Zone: San Francisco House Flipping Tax Proposed
- Success Quote: JD Houston
- Transition Music: Various Artists
- Ending Music: Pharrell Williams – Happy
Thank you for listening to our Podcast and please give us a review on iTunes and feel free to leave a comment below. Additionally, if you have any questions or would like Tucker to cover a specific Topic, please let us know and we can cover it in a future episode! Thanks again!
June 22, 2014
Great show guys!
The question from the seller of “Where did you get my name?”……I tell them if we’ve bought a house previously in the neighborhood or if its a location we like usually we’ll send some letters to the homeowners in the area to see if they might have a house for sale.
June 23, 2014
That’s a good tactic as well!
June 23, 2014
I get alot of numbers from TLO. When they ask I say I got the number from public records. Is there nicer way to say where I got the number. Thanks!
June 23, 2014
When you say “Numbers” are you referring to Phone Numbers? TLO is not public information. Most land lines aren’t listed and mobile numbers are not public and TLO will give you both. We recommend not calling potential sellers, that is a no-win situation for you if that’s in fact what you’re referring to.
July 1, 2014
Sorry for the confusion. I use TLO to find phone numbers of homeowners of property I find by driving for dollars that are clearly abandoned/vacant. TLO usually has update addresses and phone numbers. Are you saying its not a good idea to call these people?
July 1, 2014
You might be able to get away with it when calling vacant/abandoned property owners and say you got their info from a neighbor… However, it has been our experience that calling any homeowner before at least sending 1-2 letters/marketing pieces first, puts them on the defensive right away and can be intrusive. Especially if they are living in the property, they will think you’re stalking them etc… We just don’t advocate it, as its a very bold tactic to use and most people will just be focused more on “How you got their number” rather than talking about their property. So we don’t call sellers, unless they call us first, but if we did, we would at least send them a couple marketing pieces first, so they could associate us with marketing they have seen before, to help legitimize us and to make it a warmer call…
July 12, 2014
When you guys do a rent back, do you have the title company attach an addendum to the P&S to cover yourself so you’re not stuck with a tenant if their deal falls through? How do you handle that?
July 14, 2014
We will always write up the terms of any rent back in an addendum that everyone must sign prior to closing…….that way nothing is left to chance. Generally though the people we buy from are using all the cash we give them to buy another place outright or are going to be moving in with family. Rarely are they actually getting another loan, which could potentially fall through I suppose if something goes drastically wrong.