Welcome to the Flip2Freedom podcast. We are on episode #136, and this is Part 2 of a 4-part series. In today’s episode, we’re covering Steps 3 and 4. Step 3 is Meeting the Seller, Asking Strategic Leading Questions and Building Rapport. Step 4 is possibly the most important of all… Evaluating Repairs.
Last week in episode #135 we talked about Steps 1 and 2. Check that out so you’re caught up. Step 1 is Preparing Your File… making it complete and consistent for every deal. Step 2 is Pre-Appointment Intelligence… crucial things you need to know before you meet with a seller that may seem like simple common sense but are definitely worth mentioning.
I use this 9-step system regularly and diligently because it works. It’s an outline for every deal, and it cuts down on surprises. What you add is your energy and enthusiasm.
Remember, even without cash or credit, you can get started in real estate by wholesaling houses. It’s all based on the contract. You get a contract with a distressed seller on a house the seller simply wants to get rid of. You find a buyer for the house in just a few days for $10,000 to $12,000 more than you’re paying for the house. You get a contract from the buyer who knows the price is a great deal. You pocket the difference.
So, let’s get going on Steps 3 and 4…
Listen and enjoy
What you’ll learn
- This is a people business; you must actually be interested in people and learn how to read them
- People like people who are like themselves
- It’s important to model yourself to match the seller you’re dealing with
- Staying ethical
- Sean’s 4 types of sellers – learn each type’s concerns and motivations so you can help them move through the decision process
- Why evaluating repairs is the most critical step
- How repair costs are a negotiating tool
- Why you should target older houses
- Sean’s recommendation of an inspiring movie to see
Mentioned in this episode
- Sean’s updated site and free book: Flip2Freedom
- Sean’s funding company: Velocity Capital Fund
- Free Infographic on 9-Step Seller Conversion Sequence: