Speaking to Lease Option Sellers and Landlords
In my recent call, I spoke to Chris one of the students in our deal selling masterclass.
Chris posed some questions which I gladly answered and gave him some advice on securing deals.
Read through our conversation and I hope that you’ll learn a thing or two from my advices.
Question 1:
I had a house going through before Covid as I was buying property.
I pulled out just before everything happened and until Covid hit.
I know the lady’s in negative equity and I know that how she's mortgaged up to the hilt with it I know she wants to move to rent. I know a name and have got contact with her and I just wondered which would be the best way to approach?
Would you send a letter or would you go and knock on the door especially in this current situation with corvid how would you handle such a scenario?
Answer:
I’d do both.
Knocking on someone's door is not that bad right now.
As long as you just keep right back and are not like hi! Right in their face. Make sure you keep right back and keep your distance.
I feel like people now are much more relaxed and some have got mixed opinions on that.
I don't have an opinion on that as I don't know what to think of that and would do both.
A little tip as well is that when you do both it's actually a good excuse knocking the door as an excuse if you send a letter first because you can send a letter and then a week later you knock the door and can say ‘hi my name's Chris. I sent you a letter last week I’m just checking if you got it?’
It's like making a phone call to someone after sending a text.
If you’d like to send them the text, say ‘hey my name's Chris I’d love to give you a guaranteed rent offer or potentially buy your HMO text me back if you're interested’
Then call them a week later and say ‘hey its Chris did you get my text last week? I bet you HMO…..’
It's like a follow-up therefore, I’m a guy that prefers both the options.
You don't want to be emotionally attached but you take those types of leads down and that's the power of follow-up and if you've got a good opportunity and know the situation it's like I’m not leaving that alone and no I’m not going to put all my eggs in that basket as I’m going to have other stuff going on but that is not going to slip.
I’m going to keep following up until that lady says absolutely no or okay let's do this.
Question 2:
There's a manager of an estate who's had property and took it off the market in November to refurb it, put it back on in January fully refurbed and 15 grand more expensive.
He still couldn't sell it and is taking it off the market again but I’ve got his contacts.
I’ve already spoken to him and in your opinion, what would you say to him?
Answer:
I would say to him ‘hey I’m really interested in your property and I know you took it off the Market. Are you still open for business? What happened with it because I’m an investor?’
They would tell you their story and you’d give them your offer.
Be persuasive as possible in closing the deal and make sure they get interested in what you have to offer.
You could say something like, ‘listen um, I know it's on for 150 or whatever it's on for and I’m an investor. I’d probably only likely be able to offer about 120 but as I know you've had a bit of trouble selling it I don't know what are your thoughts on that?’
They could say that your offer is too low or accept it.
Just memorize the language and I’m sure you'll get better.
I don't know what you guys do for a day job but whatever your day job is, say you are a librarian, when people come in, and you say how can I help? You just do it automatically or if you drive, the first time you started driving a car you were stalling and you saw it as such a big deal and then now you just jump in a car and you just get where you want to go without thinking and it's the same exact thing with securing deals.
That's why when you get good at this, your first deal is always the hardest then your second deal is always the second hardest and by the time you've done your 100th deal and bear in mind I’ve done over 300 property deals.
For me it's just absolute second nature and it will become that and everyone that's reading this is a competent person, an intelligent person, a driven person and the fact that you're gaining knowledge reading this it’s just a matter of time before you grasp the skill to becoming financially free.
