Every real estate investor has their own process they follow to find and close deals. Today Josh joins Brian and John to walk us through how they find and close off-market deals. Tune in as they walk us through how they generate off-market leads up to the final closing process. They also discuss the tools, apps, and software they use to make it all possible.
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Covered Topics:
- Acquisitions and Sales Process
- Marketing or Lead Generation
- Processing Leads
- Evaluating Properties
- Negotiating and Contract Signing
- Closing
Show Notes:
00:29 – Today’s Episode: Acquisitions and Sales Process
01:11 – Marketing: Getting Your Leads
- Direct Mail
- Website Leads
- Wholesalers
- MLS (Multiple Listing Service)
04:37 – How to process the leads
- Use a CRM System
- Podio is what John and Brian use
- Using PATLive to determine the motivation of the seller
- Putting different phone numbers for tracking
- Using Vumber for virtual numbers
10:29 – Deciding whether to flip or to rent
11:13 – Josh shares how he evaluates and analyzes a property
- Using Zillow to determine how much a property is worth
- Asking when to close is a major factor in motivation in selling
- 3 Reasons to View the Property
- Check the condition
- Build rapport with the seller
- Driving the neighborhood
- Using Google Maps to see through the neighborhood
16:10 – The negotiation and contract signing
- Aim for a win-win situation for both parties
- Negotiation is rarely about money
- Empathize with sellers
20:32 – Things to get done before closing
21:39 – Scheduling utilities
22:28 – Scheduling closing with the title company
Topic Takeaways
- Utilize all tools available to you to get and pre-qualify leads — this process can easily be leveraged.
- Asking the right questions to your pre-qualified leads is important.
- Empathize with sellers and always aim for win-win situations.
Tweetable Quotes
"The MLS is a good resource for people that are buying that just doesn’t fit our model.” (Tweet This!)
“Getting an idea of what’s going on around the house that we’re looking at too is important.” (Tweet This!)
“If we’re going to hold something long-term, we want to make sure that it’s a safe neighborhood and something desirable for our tenants.” (Tweet This!)
