What questions to ask a home owner who has returned our call from a driving for dollars campaign. We have gotten off the couch and gotten started. Now we need to know how to handle the people part of the equation.
@LZ9495 I'm assuming this is probably not vacant land, since you mention a "home owner" calling back, so you would definitely need to adapt this a bit to your purposes, but when I got started marketing for vacant land a few months ago, I found Seth's post below extremely helpful in guiding the conversations with prospective sellers and identifying some questions I needed answered, by them or myself, before I could move forward to an offer:
https://retipster.com/when-sel...
I'd recommend reviewing that post and the form Seth provided there, and thinking about which questions still apply for your business model and your area, and then think about what are the other pieces of information you might need to know:
- To decide whether to buy a property or not
- To get a good idea what it will be worth for your exit strategy (whether fix and flip, wholesale, buy and hold / BRRR, etc.)
- To decide what you'd be willing to pay
Then I'd come up with a combined list and kind of make it my own, using your experiences with the first couple of calls to refine it. Whatever list you start with probably won't be the one you're using on your hundredth property, and that's perfectly fine.
Lastly, I just want to say that it sounds like you've approached this the same way I did (get started first, have an overall plan, get the phone ringing, and then figure out what you're going to say when you speak with the sellers). In retrospect, I'm glad I approached it this way, because if I waited until I had every detail like this worked out, personally I know I probably still wouldn't have gotten started.
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Thanks for posting that @dl7573, you beat me to it!
Out of curiosity @LZ9495, were you driving for dollars the old fashioned way (taking notes and sending mail after the fact) or were you using the DealMachine app to do it? I know DealMachine isn't free, but man... knowing what I know of it, it makes the job of driving for dollars SO much easier. Just wondered if you had discovered it yet.
I was doing it the old fashion way and actually driving. I had not heard of the DealMachine app. I will take a look at it to see how it can assist me getting to me goals.
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If this is a house;
Mr. Homeowner, I an investor and am interested in making you a cash offer on your property _______.
Tell me a little about the property:
How many beds, baths, square ft., basement or ?, what issue do you know about it having?
Why do you want to sell this property?
When can I go take a better look at it?
Usually if you listen people will tell you all about their reason for needing to sell it.
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@jawollbrink Great info, Thanks for your input.
@LZ9495 I can second DealMachine. Once you try it, you’ll wonder how you ever survived without it.
D4D is not a real estate investor’s best use of time, IMO.