2 VIDEO TRAINING

Topics Discussed Pages 59 Process of asking questions to get responses

Key Phrases to Pre Screen Sellers “Magic Words” Master Pre Screening and Save Time

1. Memorize This “If I can pay you cash and close quick what is the least amount you can take?” This phrase gets to the bottom line (realistic or lala land) Bottom line asking price has to be 80% or lower to even talk to seller. Always follow up with “Is that the best you can do?’’

2. Asking what the house will appraise for will tell you the sellers mindset3. Asking if the homeowner will accept small down payments and the balance in monthly installments.

This is to see if the homeowner will finance you. 4. When asking what is the smallest down payment it should be 3% of the purchase price if they

owner finance5. This is a question to see if the homeowner will lease option (10% or less do this option)6. Straight option on pretty house, executive or luxury homes we don’t pay cash. (structure financing)

look for a buyer to buy from you. 7. Last resort use all the time “Are you saying that if you don’t get $___________, you won’t sell your

house?” “Then what is the least you can accept?” If they are stuck at a number, you tell them that you are in a 10k range of 10% above and below the 65% then you will most likely buy the house if they say yes then it is worth you taking a look at the house.If they say no leave the door open to follow up by keeping their name and number on file.

Before we can buy a house as an investor for a house worth 100k the most we can pay for the house is 65k

#1 #2 #7 Are the three most important key questions to save time

Page 60 30min into video Answer First CommunicationScripts for inbound leads from radioThis script on page 60 is the exact same process to follow for door knockingAll of the questions have a meaning and order, some of them we will already know the answer to because the information is public. This determines if they are motivated or not motivated seller.

Page 61 46min into video Create a Lead packet

Lead-

Checklist-Page 61

BCAD public records to determine/Property Description1. Who the owner is-this determines who is trying to sell the house to you2. How many sq ft, construction of property3. Zoning-Single family residential / Make sure that any house you’re buying is not zoned

commercial these houses do not qualify for bank loans. Banks have a policy to not do residential loan on commercial property.

Comps Pull comps to comparable properties to the houses your buying

Page 62 1hr5min into video Pre-Screen Sellers to Evaluate Leads

1. What indication is it an ugly or pretty house? Look at value of neighborhood, what is the median price range? How does it fall into the median price range?

2. Does the house need repairs? Is there immediate built in PROFIT? Based on the sellers asking in relation to what it’s worth and if they are higher than 80% then there is no immediate built in profit.

Seller asking divided by value, if that number is higher than 85% that is an unmotivated seller. 70% or less of value stop everything to call seller, set appointment and look at house immediately. 75% Call somewhat motivated sellers within 24 hours.

Lay out the lead in form of the W=Worth? (Value) Pull comps and do your own homeworkW=Want? (Asking Price) The lowest wanting priceO= Owe ? (The Loan Balance) W=Why? (Motivation)Does the house need repairs?If the payments are current or not?