#flippinghouses #wholesalinghouses #wholesalingrealestate
I’m about to show you guys how to negotiate with sellers right now because right now sellers are beating you up. That’s what’s happening. You should be beating sellers up. Okay guys, because how do you negotiate in a seller’s market? Well, guys, I’ll let you know it just switched. This is a buyers market. So not a seller’s market right now sellers cannot just sell anything immediately this buyer time baby. So I’m going to show you how to negotiate in a buyers market. And I’ll just switch it What would you do? You know, how would you negotiate? I’m going to answer both. All right, I need to get my VA AJ my trusted VA in here. Hey AJ. What’s up, brother?
AJ: Hey, Boss. Good morning.
I was talking to one of the people in my Discord. If you’re not a part of the discord. Go ahead and join it. I’m talking my boy Wilson from New York. He said, I’m talking to a seller who got two properties. But the issue is her price. And I said happens. So Wilson, I was I should have told you I’m doing a video to explain this. And maybe I’ll send you the video after but that is why we’re here talking today’s How do you negotiate with someone that wants to sell but their price is wrong? They’re too high. It’s not a deal. AJ, what do you think someone wants to sell price is too high. What do you do? What do you think, bro?
For a normal person they would back out but knowing how you actually really put your numbers out there. I think giving options to leads is the best one.
Yeah, you got to provide them options like I’ve showed you. You got to let them know what they can do to sell their home and find out if they really need to sell quickly. So what we’re gonna do is we’re gonna go to batchleads, can someone in the live does they want to give me a property that they’re working on right now that I can analyze and kind of show you guys how you would use batch leads to negotiate with that seller? Has anyone got anything? All right, we got someone Tony Greene coming in hot. He’s got to lead. I love it. Tony, thank you for dropping that lead. Look at that. Let’s go flat. Give me a flex wherever you are, brother. Now, AJ, let me ask you a question. Do you think you should be talking numbers and negotiating with the seller in the very beginning of the call?
No, I don’t think so. It’s gonna be really weird.
It’s too soon. Right? Right, too soon if you called me and you said, hey, I want to buy your house, I’ll pay 180. I’d be like, who are you? Why are you calling me like why do you think I just have one at one my house were 600,000 or whatever it is. It wouldn’t make sense. So you accelerate first of all through a process before you can get to the part where you start talking numbers. Numbers don’t matter. Guys numbers are like, I’ve talked to people that want like a million dollars. And then eventually we get down to 750 $250,000 discount what changed and nothing really changed. He still had the same motivation. I just was able to uncover it more. So that’s why the sales process that I’m showing you guys is so important, which we’re going to go over so we’re going to look up my boy Tony, Tony Greene, we’re going to look up his property. We’re going to use batch 150k. Okay, so this looks like it might be like some kind of townhome or something it says should property vacant. Oh, look, it is vacant. Tony, do you know what the seller wants for this house? Yeah. Have you talked to him? And if not, it’s okay. So what I would do first of all, when I’m talking to the seller, this is the exact process I’m gonna go through. I’m gonna do with you, AJ, you’re gonna roleplay with me. Okay. And it looks like we got our boy Tony Greene saying it’s upside down drive. He got it for driving for dollars. He talked to the mother son passed away. So I’m dealing with him. Okay, Tony, appreciate that info. But do you have a price that they want for something they’re asking? So we can use in the roleplay? If not, it’s okay.
You know, what’s got you thinking about selling?
Yeah, my son passed away.
I’m sorry to hear that. So you don’t live in the house? Your son passed away? So you’re trying to sell it now? Is that right?
Yeah.
I’m sorry to hear that. Like, is there any reason other than that, that you’re selling? Like, can you keep the house? Or do you need to sell it?
No, I actually, I have my own place.
So
okay, so you’re not really interested in keeping it? Well, you know, first of all, I’d like to find out why you’re selling. I could totally get it now. But I kind of want to review with you some of the options just to make sure to see what you’ve explored. You know, because there’s a lot of ways to sell your house. You don’t need to sell your house to an investor like me, right. So, first of all, have you thought about just listing it? Is that an option for you?
I’ve thought about it, but then again, I don’t have the time.
Okay.
Okay. And is keeping it an option? Can you just rent it out? I’m sorry. I know that. It’s an issue with your son and everything. But like, could you keep it? Could you rent it?
No, really rent it? No, I don’t have the time for all that.
Okay. So keeping it running it even flipping it? I’m sure you don’t have the time to flip it yourself?
No.
Okay. So it sounds like to me after kind of going through some of the options on way to sell your house. You don’t want to list it. You don’t want to rent it out. You don’t want to flip it. So it sounds like a cash offer is what you’re looking for, like someone that can just buy it right now and seven days and just be done. Is that kind of what you’re saying?
I think that would be an option.
Okay.
I think that is the only option I should say.
Okay, but I guess what does it depend on? Because you were kinda a little hesitant. You said it is maybe an option.
Well, it’s really the price,
huh? Okay, well Yeah, I mean, I’m assuming you have an idea of what you want for
it.
I did see that. I would call that the online platform and Zillow. Yeah. But I probably would want to go higher than what I
see there.
And why is that you just you just want as much money as you can get.
I think the property’s in pretty good condition. So probably wouldn’t go up to
Okay. Now it makes sense. So tell me again, what, what do you want for the house? Again, as I look it up on my on batch leads.
I was really hoping to get it right about
300
300,000. Oh, and how did you come up with that again?
Well, there were properties in the area from their neighborhood who actually got it sold for 300.
So
I’m actually looking at it at it right now. So you said you were looking at properties that sold around that in that area for 300,000? Did you check to see if those were like comparable to the one that you have like same bedroom? Same bath townhome, did you check that or did you just see stuff for sale?
No, I just looked
well. Look, I’m looking at it right now. And underneath, you know, townhomes on bachelor leads, the Bachelor is a service I use, right, it helps me calm properties, you know, you’re asking for 300,000 is that right? I’d love to get you that. But um, you know, just I’m just looking at the info, it seems like properties in the area. I mean, maybe they sold like that in a lot over the last two years. But the markets really shifted. I’m not sure you know about that the prices are going down. It’s harder to sell stuff.
Yeah, I’ve heard about it.
Okay. You know, I understand that you want that. But you know, I feel terrible. I probably I’m definitely not gonna be able to get you close to there. Maybe if your house is in great condition. Maybe if it’s in a good spot, but I’m just looking at the data. And it doesn’t support something like that, especially for me as an investor. So let me ask you about the condition of the house. Maybe if it’s in great shape, maybe I can pay a little bit more is in awesome shape. Have you updated everything, the kitchens, the bathrooms, everything within the last two years, so it’s all pristine and nice.
Yeah, actually, my son updated that the kitchen and a bathroom were updated two years ago. So Oh, in a good condition?
Did he do it himself? Or did he hire someone out?
I’m not really sure if he did.
Okay. Well, let
me ask you this. What issues are you know, are there any issues of the property?
I do think
there are Have you been there once I’ve actually been there three months ago,
you know, if the house is in great condition, I mean, listing is the best option. But also, you know, if we can come upon like an agreement, I might be able to just take this over, is there a mortgage in place? Is the house is that earlier is it paid off? Alright,
I believe this is paid off.
Cool, cool. You know, miss, I understand why you’re selling, you know, I understand the condition of the home, I understand you need to close quickly. I’ve been trying to wrack my brain on how I can get you close to what you want. But you know, according to the comps that are in the area properties that are extremely rehabbed and really nice, you know, they go upwards of like, maybe like the 202 50 range, but those have been updated. Right. And you’re almost you’re telling me it’s got a little bit of updates, but I’d still probably have to go in and get the whole place updated. And by the way, 260 is what they sold for. Well, actually, it looks like it just sold that seems to be like what a really, really nice townhome is going for top dollar right and I never just expect it to be top dollar because you know, the market. I believe it’s going to continue to go down. I think according to the numbers here, I would probably have to be around according to what I’m looking at probably around $100,000 Oh, yeah. Maybe like the range of 100 to 120,000.
I think the last time I checked on Zillow was higher than higher than 120 I mean, when I looked into Zillow, I think it was 150 estimate price for the house. Oh
yeah, I don’t really go off of estimated prices because when the estimated price is like an algorithm it just shows like all the properties that are selling that are I’d need to update yours. I mean, I know that’s a lot lower than what you want it but is that something that you would consider? I was able to close in 30 days I would probably think about it. Okay, so you’re not not 100% sold on that if I can get it done quick
probably if you can do it quickly, but I’ll probably explore more options.
I totally get it I mean I would too if I were you I mean I offered you a low price now that you know that you know the properties in the area of going Max 260s are really nice. What’s the lowest you could do for me? What’s the best deal you could give me?
I could probably go 450 150 Yeah,
is that the best you can do?
I think this is what we’re going to do.
I have to get my offers approved by my underwriter. So I’m going to go to my underwriter I’m gonna call him and I’m gonna see if we can get 150 approved let me ask you this before I go to him if I can get this offer approved. Are you ready to sign today?
Yeah, I mean if we could go for it. Hello miss how are you? Okay, good.
You know I’m looking at the numbers I just got done talking to my underwriter. Is there anything else you can tell me about the property that you know can help me raise the price for the underwriter will approve because I hate the underwriter. He’s tear While he’s telling me to offer you offer less than obviously you want, but is there anything else you can tell me about the house that maybe I can convince him to go back up?
Um, nothing really, I think it’s really as an in good condition. But how much is their offer?
This is what he said, This is what we can do. We can close in 30 days. Okay, and we can get you your money on. Don’t worry about anything we can do. $105,000 under 10, five, I know you wanted 150. But that’s really like the best he was able to prove me for.
I’ll probably think about this 105 That’s your maximum. Yeah,
yeah, that’s like, you know, that’s kind of where I need to be at like, considering you’re at 150. I’m at 105. Like, I want to work something I really want to help out in a situation like what are you thinking? Maybe I can go, you know, run this back. We’ll see. I was thinking
really, maybe we could go back to the maximum you were given earlier, like 120 range.
If I could do if I can get 120 approved. Are you ready to go? Are you ready to sign right now? You know, 120 is fair, if I do get approved or you buy a computer so I can send you my contract, and we can get this done just right now? Yeah. Okay. Sounds good. All right. Let me call you back, I hang up, I ran the numbers, even though I’d like to get it lower. 120 gets us a 20k wholesale fee, it gets the flipper 30 If it’s a full rehab. Now, if it’s a medium rehab, then we can make more money. She says it’s in good condition. It’s possible. This is a deal. According to the math, this area might be a little bit different. Who knows? I mean, I’ve never done a deal here. But this would work in Utah, someone would do this 100% I would do this deal. So this is a deal. You go back to bats, you just want to verify right? You want to verify you’re not making an offer and that’s why I teach people to get buyers to like to reverse wholesale by calling someone that you know, that buys in this area and be like, hey, you know I’m talking to a seller they seem pretty interested. Is this a good deal and then the buyer can let you know as well so you don’t have to just lock it up and guests
