Welcome back to the channel, everybody, are you gearing up for a seller appointment and you’re not sure how to navigate it, you’ve come to the right place
knowing how to operate and navigate an appointment can make or break your deal. If you go into appointment and you do not know what you’re doing, you’re fumbling around your words, and you’re nervous, it’s gonna probably happen, you’re probably gonna be nervous when you first start, but at least have a game plan and a sales process to take the seller through. So they know that you have experience or at least you know what you’re talking about. In this video, you’re going to know exactly how to prepare for seller appointment and actually have a live scenario of you watching me actually I recorded it because I asked the seller to say, Hey, it’s okay, if I record this for training purposes, you’re gonna be able to watch me on a seller appointment and how I navigate through the scenario. And you’ll know the key points to address during a seller appointment.
Let’s talk about what you need before you even walk into a seller’s appointment. First of all, you’re going to need to know what you can do with the property. What’s your exit strategy is if you just go in there and you’re like, I don’t know if I’m going to fix and flip this wholesale this Wholesale is you got to know what your exit strategy is and what you’re trying to do with it. So you have a good idea when you go into that appointment. If you know exactly what you’re trying to do, you also need to go with kind of a good idea of the numbers, you’re gonna go to that house to get a good a better idea of the condition it’s in, but at least you need to know the ARV what it’s going to be worth if you fix and flip it.
And also, you know general idea of what you’re going to need to get the house under contract for because if you just go in there and you’re like you just don’t even know numbers, you can waste a lot of time and just not come off like professional so you want to know what you’re doing and know the numbers and the extra strategy before you go. Before we jump into the second point. I want to invite you all to my masterclass is that paynelessflipping.com It’s absolutely free, where I show you exactly how to get started in wholesaling, real estate investing, check it out. So you got one good shot to make a good impression on seller when you go see him.
So what I like to do is when I knock on the door, I like to shake their hand say, Hey, thanks for having me over. My goal today is just to see what I can offer you let them know why you’re there, right? Hey, I’m here to see what the house looks like. So I can make you an offer. After I take a look at the house.
Let’s take a seat and I’ll be able to run my numbers and show you exactly what I can offer. You want to start off the appointment. And when you meet the seller by setting the proper expectations of what you’re going to do, if you just knock on the door, they welcome you and you walk in and just start looking around, they’re probably like, okay, I guess this is what you’re doing. But if you just say, hey, look, I’m just going to look take a look around the house. And then after we can talk and discuss our options to buy your house, they’re going to feel a lot more comfortable. So after you shake their hand, you look around the house, see the conditions in you. So after taking a look at the house, you want to take a seat and go over the condition of the house, everything you just saw. You want to talk about their timeline, how soon they want to sell, and the options that you have to buy.
And then once you’re able to talk about that openly and honestly, you want to make your offer, okay, and not a lot of people they’ll leave they won’t make the offer right? Then they’ll just say, Hey, let me go run my numbers. For me. It just depends. You got to vibe it out. If you know exactly where you need to be, you make the offer. And if you don’t, then you can say hey, let me go run my numbers. But basically, that’s what you want to do and thing that I like to do.
So I feel confident as I talk to sellers that I present them multiple options. I just don’t want to go there and make a lowball cash offer and hope they accepted right there. I want to show them all the options they have and just say hey, what’s best for you? And actually, there’s a video right here of me going through my sales process step by step with the sellers. So check it out and tell me what you think about my process. And if you think it’s any good, but basically what I wanted to show you I’m going to share my screen with you guys just so I can show you what options we have. So what I do, I just show you the whole process of what I what I take this thing. So this is your home for 450. You have it listed on there and you say most of the offers are coming in around 400,000. Is that what you’re saying? They’re saying so quickly.
I remember Joe homebuyer which said for 2426. Okay, and they still cancel. Yeah.
So do you believe they really had someone for 26? Or do you think they might have
been they snapped me up and said we’ll see if we go down?
Okay, so I’m looking around at comparables. That’s like what you do as a real estate investor. You just want to see what what houses are worth in the area on
the street smaller than mine are 75 Okay, that was a couple months ago, and it’s all sold Okay. updated his house. So okay, and his yard looks like shit to stumps. Who would stumps? That’s pretty good. Yeah, they’re like two was stumped. Yet phantom a third of an acre, he was only on about fifth of an acre.
So I’m looking over here and across the street there 610. Now these aren’t necessarily comps, because they have not sold yet. So someone might be able to buy it for less, but I’m looking around. So this house, you can see it. It’s not like a complete rehab. But, you know, it looks decent. And it’s been on the market for 114 days. So when I see this has been on the mark for a long time. That makes me think but do I price too high? So just immediately I’m like, okay, maybe like 580 they’re too high. So then I take a look at another one. And this one’s 640 You would say okay, they did a flip.
They got the nicer kitchen, blah, blah, blah. Okay, how long has that been on there? 23 days, okay, so we’re not sure what’s going on with this one. If I really wanted to know I could call the agent say, Hey, you’re getting a lot of action on this. For right, so, but nice yard right, like, nice. That is cool. Yeah. So we start going over here because I do think you know, east of 1300 Some people just think that’s, you know more procedures quicker. Yeah. So let’s go over here we’ll look at this one so 585 ad it’s already dropped down from 590 20k price cut been on the market 18 days they usually it’s been on longer but somehow they get it to reset this one not flipped, right? It’s just you know, it would Yeah, it needs so I would say this is a decent comparable to you guys like but at the same time, it’s it’s a different style home, it’s built probably a little bit newer than you guys. Let’s see each five, eight year I think you’re 1983 There’s a 97.
So not that big of a difference. Let’s see half a million for this. Okay, so that’s kind of that’s pretty similar to what you guys have but not flipped, right? So they’re selling on a three bedroom though. Here’s four. Oh, yeah. And here’s I think here’s eight. Let’s see, I think it says right here 1741. This one is 16. So it’s pretty dang close. I wonder now maybe they have a open layout in the basement or something but not flipped. So my thought is like, if you were to flip this one or your house, this would be around 555 Six. That’s my thought. So as a flipper, it makes sense for me to flip your house on the buyer. And that’s that’s what the numbers are. So right, here’s a calculator. This is how we make money.
So if I type in 550, for your house, and I buy it at, let’s just say 400,000. Let’s just say we’re able to pay cash for it 4000, I borrow money, most flippers are going to borrow hard money, and they’re going to pay interest on it, it’s going to take probably about five months to flip and sell it and have to pay closing costs and commissions and your house in order to flip it to get it to pristine condition is huge. This is a medium rehab, this is not destroyed or anything but you have to update things and it’s going to cost you know, so you have medium and I put in the square footage 1714. So for someone to flip this house, they usually want to be in the green right here, we’re in the yellow. So somebody might look at this and be like I would probably do it I’m going to make people want to at the moment, they want to have a 15 to 20% return on their investment. So again, that’s why I think Joe and homebuyer all these guys are like, Hey, let me just see, I can check.
There might be somebody that’s willing to do it. But in order for this to be like a home run for someone, obviously you guys know like, that’s the offers even getting three. Like if once you go to three, I think 370 gets you in the green. Yeah, so I think a max that someone would pay and stay in the green would be too many zeros. Create probably 380. So that should be green. But is that kind of makes sense? Like how the numbers work? Yeah. Okay. Now, I understand that you guys like you don’t care, you’re not just gonna sell it for 380 or less. If you don’t want to, like you’re gonna, you’re gonna sell it when you feel like you get the right offer. Right? So if you renovate and resell it yourself, you could you’re gonna walk away with more money, because this, this calculator actually breaks down if you guys do it instead of you know, selling it. But it breaks down right here. And hopefully this is useful information.
I’m just Yeah, I see a lot of things that.
So if you were to flip this yourself in sell for 550, it would take five months. So let’s say five months from now, you’re done flipping it, but you’d pay commissions and fees 6%. So those are the fees that you’d pay. And your rehab costs would be estimated at around like 49,000. And it takes away all the fees that are you’d pay and it says after everything’s said and done, if you were to flip this yourself in five months and rehab it, you walk with 475. So if that’s an option to you put that down to 3.5 3.5 this one ever got some big clients,
and I also could do it like extremely cheap for you to you mean to listen, correct? Me to list it, right? Like you have someone that would do it a lot. So there you go. 489 If you flip it, so if you if you’re like, hey, let me just take five months and put about 50 into it. And you’re speculating yourself, you’re saying, Hey, I think it’ll be worth 5550 It might be worth more. You never know. But a lot of people that’s why I show him this because it’s like, Hey, you don’t have to sell it, you could you could fix it up, you’re gonna make about 89k more speculation than if you sell it to someone like me, that’s a cash buyer. Now the full service program, that’s what I was referring to where we put on the market, and this is how we run the numbers. So if we were to list this house on the market, you had it listed before, didn’t you say you put it for half 1,000,005 33 533.
Okay, I started out there went down to 25. Then we went down for 99. Okay?
So let’s it let’s say we relisted this thing and I you know, I take care of the Commission’s and the fees and wherever for listing on the listing side, I’m looking at this house, this is houses, I feel like it’s pretty dang similar and like condition in the sense like, it needs to be updated for 99 this thing, I would call the agent, I would just be like, Hey, are you getting a lot of hits at this price or what’s going on? And if he’s like, we’re gonna have to drop it again. Then we would know that but let’s just They we listed this house on the market for 494 89. And I put it on the market for you guys, if it’s at 49. And usually we take 95% of that to sell it, like pretty quickly. So then, you know, 3% commission on the commission, since the buyer’s agent usually wants to bring, you know, they want to get paid 3%, we could also try to 2.5. But 3% is usually like what tracks agents to bring their clients closing costs. And then I add in a little for doing this add in a desired profit that I’d like to make for the, you know, the work that I would do. Okay, so if we were able to sell this house, we’d list it for a 49. And we sell it for 464, after the fees, and the Commission’s you guys would walk away with for 28 645. And that’s if we did this strategy of like, let’s put it up, let’s show it to people, they come in, they say, oh, you know, it needs a new roof or needs a new and then we say, hey, we can do concessions for you, we can add that in there. Or we can do the repairs. So when you look at your options, again, if I blast this out to all my buyers in Utah, we’re going to be getting anywhere from like 380 to 400,000. That would probably buy it now. You can just flip it. You’ve already had that right in. And I might have some people that really like Sandy that might want to buy it live in it themselves and flip it and they might go for 10 or 20. Max, maybe. But that I’d have to check. I’d have to blast it out and see is renovating it. Is that an option for you guys like to put the money in?
I don’t know how to do it myself. I know people.
Okay, so but is that? Is that something you’ve considered like? Hey, let me flip it and get more out of it. Just wait for me. Yeah, yeah. You’ve been thinking about? Okay, not a bad idea in Utah is also seasonal as well. So like, you know, selling and when it’s coming in. Right now, this is the full service program that we do, where we list it, I take care of the commissions and fees and all that stuff.
Right now for sale by owner because it gets another chunk out. Exactly.
Yeah. Because you’re dealing with you know, all that but you’re also limited to the amount of people that will see it right.
Because if I go on to better respond to the Zillow ad within
Well, I don’t know who your agent was. I don’t I don’t know how that worked. But this this would potentially be you know, what, what you would get if we listed it using that service and then the terms you said Hey, not interested in terms because I need the cash and anybody that does terms, or they buy it and give you a down payment, they’re not going to come up with 150,000 That’s just not going to be that much in my savings. Right? So the thing that I see that I can help out with it just being completely transparent is the Novations that’s what it’s called where we listed in your behalf and then take care of that all the calls all that set for you and then the cash offer will snag
with those if you don’t get the place you need then I take it into shorts.
Well the thing is you get to this zone so yeah, it is a downside, but you don’t have to accept the offer so for example, if we keep getting offers that like
then I’m stuck here but can you guys get paid off? So I’m gonna I’m gonna carry you on my back I’m gonna say was Kristen there st and selling marketers total crap for two years. Right? I’m stuck here for two years now because you upgraded Oh, okay.
Yes. So the way we do the upgrades is we don’t upgrade it until a buyer comes in is like, Hey, I’m gonna buy if you do this, and then they put down a significant amount of money down so we’re, we’re legit so it’s so I wouldn’t work on your house is pretty dumb. Okay. Yeah. And for my experience and doing this business, whether it’s in Utah, I do this all over the country is the MLS is going to get you 99% of the time the best offer because there’s cash buyers, even on the market that are always looking. So if we were to put this back on the market, I think we would have a better chance and obviously you you’re doing it with your persona, which is fine, but I wouldn’t be taking care of all the calls and relaying everything to you through that which would get you at 428 minus your equity that you’re going to be walking away with over $150,000 in equity if we’re able to sell it for if you found this insightful and helpful smash the like button so we can give you more content like this.
