In this video, we’re going to show you How to tell the seller you are wholesaling their home and break the news to them that they can’t get the offer they want. Check this video to know more!
Nathan: Let’s call her okay. I’m doing I don’t know how long this is going to be received. But I’ve told her everything I told her I might get lit up brother, you know, but let’s do it man. So let’s call right now. Because I mean what better way to learn how to deal with this stuff and for me to do right here. Okay, let’s call my girl right now. She might not be my girl after this. She’s she’s probably like you know. Okay, again, I told her straight up like hey, I’m wholesaling this mug. Let’s let’s give it a shot. Right here that Yep.
Hi Anita. How are you?
Anita: Heading home?
Nathan How was vacation?
Anita: I was okay.
Nathan: Okay, well hey, I hate to worry you you know I feel like you know you’ve been sending some texts like maybe you might be concerned about some stuff so I want to just call you and clear it up right because you said someone approached you and said something about like 200,000 or what not.
Anita: This person I work I’ve actually worked with twice before I’ve kind of flipped back and forth between you and him but he approached first
Anita: I was dealing with them first and then didn’t and then I was dealing with you and then didn’t touch that went back with him
Nathan: Is he a wholesaler?
Anita: you both have called yourself wholesaler
Nathan: Yeah. So I wholesale
Anita: Yeah so I dont have an idea what a wholesaler is because when talking to you, you call him a wholesaler. And when talking with him, he’s called you wholesaler
Nathan: He’s talking trash on me. Okay, I get it.
Anita: You both are saying wholesaler. Yeah
Nathan: So I don’t I’m not a wholesaler I wholesale. And what that means is I buy properties and I flip them I rent them out, you know, get have rentals, but an exit strategy when I come across people in situations like yourself, where it’s like, hey, I need to sell my house quick for cash. When I make an offer to someone and it doesn’t work for them, I say, Look, you know, I might not be able to pay what you what you need. But I have a network of people that I can run this by and see if they can get your offer that you want. And that’s that’s all I’ve done this whole time is said, hey, my offer is you know, not going to be something you want. But I’m checking with my network. And I’ve been I’ve grown a cash buyers list of people that buy in close, you know, little time with their own money or hard money. I’ve grown it up to like over 6000 people. So I know everyone in Utah right now that’s buying. And I’ll tell you right now, a lot of people are not buying, they’re nervous because of the interest rates, they don’t know if they’re gonna buy your house, for example. And then it’s going to be worth less when the Feds increase the interest rate. So that’s what I’ve been doing. So what he’s trying to say is, hey, these guys are just trying to find a buyer. And I think I’ve been upfront with you the whole time that you know, that’s what we’re trying to we’re trying to find you the best offer, right?
Anita: Well, yeah, except for the one person. Those who I’ve dealt with, that I aware of have been upfront and honest. So that that hasn’t been an issue. It’s just that when I got the phone calls or the texts today, he texted me and said and saw about your, your house and wanting to know if you’re going with that or what I’m going what, what so I texted back and asked, you know, what’s, what’s going on? Yeah, yes. And everything. He said he received an email. I don’t know if he heard it, or just saw it or whatever
Nathan: the network that we built, we reach out to him, right? So we say, Hey, guys, this is an opportunity. We’re looking for the highest and best offers, you know, that’s kind of what we did. So he probably just got one of our emails, he’s probably on our list. And he called you and said, Hey, I saw this, you know, this got sent out. Are you going to accept that? And is he saying like, maybe you can do more saying like, Oh, I can do better than that. Or?
Anita: Well, his offer was 209,000. And I find it-
Nathan: Yes. Because that’s not, that’s not what you want.
Anita: he wanted to know what the offer was nice as well. I’m not gonna say what the offer is. But I am stating that I’m asking for more than what this is saying.
Nathan: Yes, yes. Because what he was saying that was for 200,000. I went, well. What I’m going with is above and beyond that. Except for whatever they’re offering. Get back with me. And I’m just going yeah, I’m flip flopping between two guys here.
Whoa, well, I get it. And I don’t think you need to flip flop between between us because you know, like I said, I’ve ran this by everything and I’ll explain exactly what happened. So when we first signed the agreement, I sent this your home out for about 235 Because I wanted to try and get as much as I could for you right. So I think the best cash offer that we have currently at This moment was like 205, then someone came in at 185. And we’re like, that’s not going to work for her not even close. And I know according to what we talked about 205 doesn’t even work for you. So we’re trying to negotiate with someone right now who is willing to take over the mortgage and get you your equity, what you’re looking for up front. So it’s not that, you know, we haven’t been trying to get, we’re just working with what we have. And unfortunately, the market, the buyers are just kind of scared right now, cash buyers are like, hey, you know, we don’t know what’s gonna happen, what we thought was originally sent it out for a lot, didn’t get a lot of interest. So then we send it out for less. Like he said, 200,000 not saying, Hey, you have to buy it, everybody, or I’m going to make you do it. I just sent it out for less because I thought maybe by sending out for less, we’ll get a bidding war, we’ll say, Okay, this is low enough, where people say, Okay, I’m interested, let me start making an offer. And then we could bid people up. Right? So that was the strategy. And I’m sorry, if you know, maybe I didn’t explain all this to you fully, but it’s just really psychology and trying to go high. And then, you know, go low, and try to bid it up. Because unfortunately, people are just, they’re trying to lowball us. And, you know, what does that mean? That means, you know, I’m gonna have to come and tell you what the offers are. But I want to get you as much as I can. I need to.
Nathan: So right now we are in the negotiations with someone that can take over the mortgage. So this is what they wanted us to do. And I’ll just we’re negotiating with right now. They said, Hey, we can bring money down to give her her equity, but we want her to pay for the solar and to catch the property up at a pre foreclosure out of the money we give her. So they’re talking about giving like something like $40,000 down to you to give you that much. But they’re saying but out of the 40,000 that we would give her we need her to catch up to what’s in pre foreclosure in the solar. So that doesn’t work for you because you have $12,000 in pre foreclosure, right. And then you have the solar lien, which is 18. So that’s 30,000. So if they give you 40, but you had to pay 30 out immediately, I meant you’re only getting 10. And that doesn’t work for you. Right?
Nathan: Yeah. So that’s, that’s kind of what’s going on. And I’m going to bat for you need, I’m trying my best, because in all reality, like I do get paid from the buyer, the buyer pays me you don’t, and I’m trying to get you as much as I can. So I can get a piece too. But the interest rates are really affecting investors right now, I don’t know if you know about it, but they’ve gone up. And they’re talking about maybe raising them another two times this year. So they might go into double digits, which really impacts the buying power of buyers like what they can afford, right?
Anita: All right.
Nathan: So if we can’t get you the price that you need, I’m going to give you the best that we got. And then you can decide and say, Hey, I don’t think Nate could gave it everything out. Maybe somebody else can do it. But I can just tell you upfront that this guy you’re talking to or anyone, that’s kind of what we’re seeing the range of what people are wanting to pay in cash is like between 185 and 205 for the home, and I know you wanting to be at 225. But that’s kind of what we’re seeing.
Anita: Okay, yeah, that’s unfortunate.
Nathan: Yeah. And that’s what we’re working on right now. And I know it’s super frustrating. I mean, it’s frustrating for me, I have two flips, right now that are on the market that aren’t selling, and it’s not any fault of my own. It’s just I mean, that’s what the Fed wanted to do. They wanted to drop the value of homes, and it’s affecting Utah. So it’s frustrating. Let me ask you this. Anita, if you can’t sell it, or no one in Utah is willing to pay what makes sense for you? What’s your option? Would you you just want to keep it or what do you think?
Anita: No, we’re not going to keep it basically would just go into foreclosure.
Nathan: Okay, so you would just you would lose it?
Anita: Well, basically, yeah. Because the bank will take it over.
Nathan: Yeah, the problem with being in pre foreclosure is they’re accruing a bunch of fees like attorney fees. So that 12 – 30 – 60 days, it could go up to like 15k, could go to 16. So it’s really cutting into your equity, which is really annoying. But that’s what happens when houses go in pre foreclosure they give them to an attorney, and the attorney tries to, you know, get you to pay. So they they throw on their fees.
Anita: Yeah, I know
Nathan: it’s so frustrating, I would hate for you just to say, hey, look, Nate, I know you’re not getting me what you want, or someone else is not going to want but I’d rather have you take 10-20 Whatever we can get you then just give it to the bank, they don’t they don’t deserve it, you’ve already paid a ton of interest to him. Like I would not just let the bank take it. So I’ll give you my highest and best and see what we can do. And I’m gonna put the ball in your court, even though we’re under contract at a higher price, like I’m gonna give you what I can get. And then if you want to proceed, we can probably close by the end of the month.
Anita: Well, the only issue is if it’s gonna only be like 10 or 20,000 That doesn’t even pay his bills. Unfortunately, I would rather just not do anything and we’ll just let whatever happen. Because I mean, he’s got obligations right now that he’s never ever gonna be able to fulfill. And so I’m just trying to get that I can.I mean, the 40,000 that I’m trying to get now doesn’t even cover everything. No, seriously.
Nathan: Well, I’m in I want to get you 20 or 10 over zero because then you’re no it’s way better than just letting them have it. But anyway, we can have that discussion a little bit later. I just wanted to let you know why the price was why they said that and that guy that saying that you can do 2000 Like that’s not working for you. That’s why I never you Going approach you about an offer like that. We’ve gotten a lot of offers there. But that’s not that’s not going to work for you. So that’s why it’s not even worth talking about.
Anita: Okay, not a problem
Nathan: So, I know this is a headache and very frustrating. I’m so sorry. But I hope you know, I’m trying, I’m going to bat and try my best for you. Okay. All right. I’ll talk to you soon. I’ll let you know what happens.
Anita: Yeah bye
Dylan: Whoa, boy, my goodness.
She doesn’t understand that her going to foreclosure and all the other fees that she’s going to have to take care of, it’s gonna be way more money.just take a loss.
Nathan: Yeah, so the thing is like, that doesn’t make logically makes sense, right? Just to let it go. Because not only that, so it’s our son’s home, she’s helping him, right. He’s going to jail. He’s gonna have a foreclosure on his record. And he’ll never be able to buy a house again. Right? So she just needs to take as much as she can get. That’s like, why would you take zero when you can take, even if it doesn’t pay off all your debts, right? So anyway, guys, this, this is what’s going to be happening a lot. And I’m just showing you the conversation to have and I’m not pressuring, I’m not saying hey, you need to go is so someone’s saying sub two. This is what we’re trying to do. Christopher is we’re trying to figure out a way to do subto, but there’s a problem. It’s there’s too much money that shows there behind 12. So anyone that took over the mortgage would have to bring in 12, there’s an 18k lien, so they have to bring in 30, like 18k for solar, if they paid off, so it’s 30 There’s another lien. So not a lot of people are willing to bring 30,000 – 40,000 on top to give on top of that, give equity to the seller, and then pay me you know, right so she’s in a position where she’s gonna give to the bank and make zero or she’s going to work with me and she might be able to make 10 She’s like, dude, if I can’t make 20 or anything like that, I would just let it go. I’m like, Yeah,
Dylan: I know. It’s like, dude, take the 10 not go to foreclosures, like it’s kind of common sense.