Alright, let’s call another lead. Let’s call another seller. This isn’t pet Shogun New York. The leads that I’m calling are from the lead, Zillow drew one of my guys that I work with he’s, he’s hooking them a lead so I can call them and show you guys how legit they are. But first, I’m going to call this lead and just see where where this area is because, you know, Oh, sweet. This is, uh, this is right on Long Island, perfect, got buyers there
and again, I’m not running comps, I’m gonna give a bump about this property, like the comps and everything until I call, how much of a waste of time would have been if I was comping that last iAds property. And then he’s like, Yo, he’s like, I’m not selling unless I get a lot. So totally not worth your time to do that. Alright, by the way, I have dual monitors, you need dual monitors to be efficient in this job, you need it. I’m telling you, I’m not playing, you need dual monitors. Because if you just rockin one screen, extremely difficult to be productive with two money. So I’m looking over here, that’s my other screen. So this guy’s name is Mark. Again, three calls. Sometimes it takes three calls, a text and email.
Hello, Mark, how are you? Okay,
good. Good to taste. My sorry to hit you up out of the blue. We got your information that you submitted to lead Zolo about being interested in selling your home? Yes, yeah. Do you have a couple of minutes to chat? I just wanted to see if we can make an offer and get down to you know, what’s got you interested in selling? Okay. Okay, good. So you have five or 10 minutes? Yeah. Okay. Awesome. Well, Mark, my name is Nathan. And basically what I do is I call to find out the situation and the best way that we can purchase your home because we have different ways of purchasing homes from anywhere from a cash offer to partnering with you on a flip to listing it. What else is there we also combined on term so it really just depends what you’re looking for. And I see that you you have the time to sell is one to two months. Is that Is that correct? Or you need to do a little bit sooner.
One or two months is good. I mean, soon it’d be good, but I can do one to two months zoom.
Is this like a you know, a, like something you need? Like pretty dumb pretty speedily? Like I know, you said one to two months, but is there like urgency behind this? Like, do you have to get out of there?
No, not really no. Okay.
So and I think this is your personal residence. Right? It’s not like a rental.
Yes. It’s a personal residence.
Okay. Well, yeah, I guess my first question is, I’m taking a look at the property. It looks good. What’s got you interested in selling right now?
We plan to move to Florida. I retired recently. My wife just retired. We’re gonna retire in a couple of weeks. Congratulations. We want to thank you. Yeah. So that’s why we want to move on what part of Florida? The Orlando area like Davenport? Oh, wow.
Yeah, I love Florida. I just was in Tampa. But I had to get out of there because that huge hurricane if you remember that. Oh, yeah. I was there like a conference. But um, so just curious. So it sounds like you’re moving relocating, because you’re retiring? What options? Have you explored up into this point to sell the home?
I actually I haven’t thought anything I’m just trying to get I was trying to fix up a few things in a house. You know, okay, but I haven’t really not been calling calling. I think you’re the first person talking to Okay, well, that’s really moving forward. Yeah,
yeah. Well, I’m probably the best guy you can talk to you because I My goal is just to kind of see, tell you your options and tell you which one’s the best for you and find out what’s the best. And then I guess we can we can dive in deeper and explore further if I if I’m a good option for you. Because we’re investors, right? So we’re not always the best option for people. We do buy homes very fast and quickly. And it’s very convenient, but it’s not always the best option. Right? Right. So tell me about the property itself. Like is it need like a ton of work or is in pretty good shape?
It’s in decent shape. It’s not the best in landscaping, it could use some landscaping work was not overgrown, or reads or anything like that. We keep the grass cut and things like that. Keeping the shrubbery trimmed, but it’s not fantastic though.
So landscaping is so so in landscaping, it’s not the biggest deal unless it’s like you know, the yards destroyed. But it doesn’t sound like that. No. Okay, how about the home? Have you updated the bathrooms in the kitchen within the last five years? So it looks like the modern New Look or no?
Well, I mean, I update the bathroom. I’m not sure if it’s a modern new look. But I mean, they redid the shower and redid the bath area and things like that. I mean, it’s I mean, it’s not going to be in any any magazine. Right, right.
Yeah, so it’s not like a complete updated remodel. Yeah, we always ask some people they like To You know, they get get to that point, but I totally get it.
Yeah. I mean, if someone were to move in like that, I mean, the bathroom would be nice. If they say, you know, I really liked this color, they can rip it out. But they don’t have to rip it out right away sound like the things not functioning or it’s not like it’s nasty or anything like that for sure they can live with it until they got around to change.
Got it? Well, so these are a couple of the options people sell their homes with. And I’ll just kind of run you through them and see which one sounds best to you. And then if if you want to go one route or the other, then I know, I guess we’ll take that route. So with listing your home, Have you have you ever sold your house with listing with a real estate agent? No. Okay, so listing currently is like the probably one of the best ways you can make the most money for your home. Because even though there’s commissions and fees, you’re usually get typically getting like a family that’s, you know, getting to get a bank loan, and they’re gonna pay the most. But the the problem right now listing if there is a problem is, you know, like time, it takes quite a bit of time, especially with the market right now shifting like it is. I don’t know if you’ve noticed that in your area. Yeah. Yeah. So. So if you were to list it, you would get the highest price. But again, it would take it could take several months. I mean, I’m seeing homes that are on the MLS that have just been stuck on there for like 30 to 120 days, right. So anywhere from a month to four months. Is that an option for you, like this time really matter do you have if you can get the highest price?
Yeah, you know, since I’m very new at this, time wouldn’t matter. I know that you mentioned expenses. I know, when I know, I figured this is gonna be a cash buy, we’re not going to get as much as we would have been listed. But then again, I was trying, I didn’t have a feeling for what my closing costs would be, and all that kind of stuff. And plus the real estate fee. I say, what if I rented this house less I sold his house for $450,000? Yeah, and my closing costs are all like, sounds like $30,000. And I’m gonna get for 20. Right. And someone said, well, we’ll buy the house before 20. And we won’t even charge anything. Right? You know, then why don’t I just do that? You know what I mean? I didn’t have a feel for what the closing expenses gonna be. Yeah, the delta would be as far as listing as far as cash,
just hypothetically, you’re thinking like 450 is what you’d want to list it like sell it for at listed for
Yeah, cuz that’s what I’m looking around the neighborhood. When I look at selling prices, it seems like that’s, like my neighbor across the street. He has a high rent I think three bedrooms. I think he sold his boat for I think it was a full 40. Okay. And I think my head a little bit more square footage than his and you know, at first, like, I don’t know if this means anything, I got solar panels up there. Okay, but but I think I should be about about in that area.
Yeah. That sounds about right. I’m looking at some homes that are in the neighborhood that are around 450. That seems not similar to yours, but at least around the same square footage. And, you know, they’re listed for 50. But they what’s the square footage of your home, by the way, so I can make sure I’m checking the right stuff.
I think it’s about 2100.
Okay, 2100. All right. Yes. So you got a neighbor right down the street. He’s got 2200 square feet. He’s listed at 450. Currently, he’s on Victoria certain. And he’s listed at 449. But he’s been on the market for 130 days, without it selling. It seems like that price range is like what people are listing it for, but it doesn’t seem that properties are moving that fast at that price. If you were to listed it probably have to be a little bit less unless you didn’t care to wait, you know, a couple months. Okay. All right. It doesn’t make much sense. Yeah. Yeah. Like there’s another one at 445 About the same looks kind of like yours, just two levels. Except it looks like the garage was converted into another room. This is been on the market for 54 days at 445. So yeah, they’re not moving either. So it’s potentially you know, probably 420 is probably more realistic if you were to list it just to beat out the competition. So so just so you know, for 20 commissions and fees are usually 6% for listing and a buyer’s agents commission. So 6% of let’s say 420 That’s what you would pay if you listed it. Okay, I’m gonna do the math for you. So don’t don’t worry about 420 times 6% So you’re right at 394 and then you also have closing costs and closing costs are generally one to 2% of the purchase price. So okay, so 420 times let’s see. So let’s say 8% fees and commissions after everything’s said and done. So you would walk away with about 386 If the house sold for 420 in a couple months that’s that’s probably what it would list for it right? That’s an option right? And that’s that’s the most you’re going to get because again you’re getting a family to buy now when it comes to investors investors like we were in it to make money so we get it at below you know, the what you would walk away with after commissions and fees and then we fix it up, put some money into it, and then we resell it and hope our goal is to make like 15% and profit on net profit. Just having that been said, Just letting you know like how this works, the offer that I’d have is considerably lower than three 380 probably be like 295 to 305. And I know that’s like super shocking. I just, I’m just just being straight up with you. That’s like how the business works. You got to get into price that is lower, so you can fix it up and resell and make a profit. Right? I understand. Yeah, yeah. So I mean, does does that price range like 295 to 305? If we weren’t able to get this done in like, you know, less than 30 days or one to two months? And you’d have to listen, what is that worth the haircut that you would take on? On listing it and waiting?
No, no, because the reason why I have a mortgage on the house, I owe 310. So I haven’t needed at least enough to pay the mortgage off. Yeah.
Okay. That makes complete sense. So if we were we had a partner that was able to purchase the home and buy it for what you owe would, would that be something you’d be interested in? Are you looking to walk away with a certain amount to get something done?
Yeah, the reason why I want to work here because I’m going to use the funny difference to put down on a house in Florida. Okay. Okay. So you want a downpayment? Yeah. Yeah. So I was hoping I get a high enough number, but at least do that in Florida. You know what I mean? What would it take? If I need, I need I need if I, if I’m going to get a house in Florida for, let’s say, $350,000? I would need like $70,000 to put down on it. And then I guess there’s gonna be some closing costs at that as well. Right. Right. You know, probably, I guess maybe another 20,000? I don’t know. So I figured I need to walk away here at least with at least $90,000. Yeah, my pocket to get at it.
Yeah. So we run the numbers again, on the if you were listed at 420. And that’s looks like what things are selling for after your commissions and fees and closing costs of listing it your numbers around 386. So 386 Minus what you owe 310 best case scenario from what I see is if you list it, best case scenario, you walk away with 76,400 at the moment,
yeah, okay. Yeah, that’s best case. That wouldn’t be enough for me. I’d have to wait for that. And, yeah.
So if you if you weren’t able to get you know, more than that, are you are you saying you just you know, staying in your home until you can the market rebounds?
Yeah, I would. I would just, I mean, I’m not rushed to get out of here. I was hoping to get out one or two months. But you told me I’m gonna walk out of here with virtually nothing. I put down another house, and I got no choice go to stay. Yeah, I know. That’s probably one six months or a year, you know what I mean?
Yeah. And that’s unfortunate the way the market is, I mean, it was really hot for a while and then you know, the property is appreciated quite a bit. Now. It’s like kind of going back down. Unfortunately for all right. I think that’s probably your best option is to stay if you don’t need to get out of there. But we specialize in working with people or like they almost like have to go right and then we make them an offer that helps them get there get to where they need to go right sounds like that’s what you need.
Yeah, no, I don’t have to go. I mean, if I had an offer now that would put me in good shape to go to fly. I’d be gone next week. Yes. But you’re telling me you’re just gonna bail. I wouldn’t even get up just barely enough to get to pay off the mortgage, then. That doesn’t make sense to me.
Yeah, like I’m thinking right here. Let’s hypothetically let’s I had it for 20 but in because your neighbor’s homes aren’t selling in the area for 50 Let’s just say for 50 We give it a shot you listed it for 50 and we do the commissions and fees a percent 6% for listing and then 2% for closing costs if you were to sell it at 450 you would walk with 414 and 414 minus your 310 mortgage is $140,000 that would walk away so if you were able to sell for 450 then you you will look good it looks good for you I think
yeah 450 Yeah, that will look that would look good because then I could pay off the mortgage and then have money for the part of house down there and then have some dollars leftover you know that’s what I needed when I got to Florida
well is it worth it for you to give it a shot like you know I put you in touch with an agent that I work out work with in the area and he were listed and just say hey look we don’t we don’t know if it’ll sell at this price but we can try and if it doesn’t then you know we don’t You don’t have to go lower like is that worth it to you to try it? Yeah, it’d be worth to try it Sure. Yeah, cuz I’m just gonna save you a lot of time and investor offer not gonna get you get you the amount of money you need. It’s just not unfortunately that Yeah,
yeah, that sounds like it’s so good. I knew I knew it would be low I didn’t know how much lower because I see these things where hey no closing costs no fees no nothing. But how much how much lower you’re gonna buy the house for work. I mean, if I were desperate situation where I had to get out of here, then I would say let’s do it. Let me pay them more let me get out of here but we’re not we’re not in that situation.
Yeah, those those ads or those ads are mainly or it’s true that we do those things. But those ads are usually to get people to give us a call and then we explain Hey, yeah, we can do it but it’s going to be at the price that is makes sense. For our business, so, you know, we do a lot of deals with people like I’m working with someone that is in pre foreclosure right now. So they really need to close quick or they’re going to lose their house. So that’s kind of where that comes into play. But you’re in a different situation. You’re in a different Yeah. That honestly,
like if I were, if I just put make the mortgage payments, and I was in trouble, then I would say, hey, let’s cut a deal, right? Now, let me let me pay the bank off and get it right. Right, that wouldn’t make perfect sense. But that’s not the situation that we’re in. So and if I had another job, if they said, You got another job down in Florida, you gotta get down there, then, then I gotta get out of this house quickly, so I can get down to my next my next job, by the way. That’s my that’s my situation. So I was hoping one to two months. But that’s not going to be the case, then I guess we’ll just have to wait longer.
Yeah, yeah, for sure. Well, what I can do is I can put you in touch with the real estate agent that I have that works in the area, and they can talk to you and maybe, you know, potentially list your home. And I think that’d be the best spot. Just listen, see what you get. If you don’t like it, and then you know, obviously, you don’t have to accept any offers. And if you do, then you’re on your way to Florida.
Plus, I think because I’ve never put this out before they can look at it. And they can tell me you know, you need to change this, you need to change that you need to fix this stuff. They’ll tell me what what would prevent this house and selling exactly what changes I need to make. So I think that would be good. I can’t actually we bought this house brand new nav pool. And we’re the first owners and we’ve never put a cap on the market. So this will be our first time.
So sounds like we got a plan that it sounds like the best thing that we found out is to list it, have an agent come out tell you what you need to work on. And no more investor calls and no more need to talk to him.
Okay. That’s it. I mean, if I was in a hurry to get if I had to get out of here, then it would make sense, but that’s not the situation
All right. Well, Mark, I really appreciate your time, I will email you. My name is Nathan again, I will be in contact with you to send you an agent that we refer and you know, hopefully it works out. Hopefully you can get your way to Florida and sell for what you need.
Okay. Well, I appreciate the conversation. Appreciate it. Have a great day. You too. Take care.
All right. So best thing I can do is I’m not a real estate agent, but I know a couple real estate agents, I can refer him to an agent and then they can pay me a commission off of the listing. I know some agents that’s it guys, like you have to help sellers find out what you find out what they want. Like you can’t convince someone to take a lowball cash offer. This guy wants $90,000 So you can get over to Florida. You think he’s in any mood or any needs any reason to freaking sell quickly? I just told you he doesn’t. My job is not to force or convince people to do something they want to do. My job is to find out what they want and help them get it. I said that’s what sales is. Find the problem. Solve the problem. Your problem solvers. That’s it? That’s all you are. Okay.
