The World of Real Estate Wholesaling – Yoav Lavee and Haim Mamane. – Post 2
#EntrepreneuroftheWeek Haim and Yoav # Post 2
The Million Dollar Skill In Real Estate Virtual Wholesaling!
#EntrepreneuroftheWeek Haim and Yoav # Post 3
How to get the seller to sell us the property at a significant discount – sometimes 50% off the value of the property?
Difficult but possible! Especially if you are willing to learn and practice this important ability – perhaps the most important ability in the wholesale process – The Acquisition
In a previous post we learned how to generate leads. The next step in the process will be to filter the leads and try to find sellers with high motivation and then convert them into a deal …
Let’s describe a situation to you. We “teased” a list and came in near us from Cold Calling Campaign with the following story:
A girl who inherited a house from her parents a few years ago and she lived in it happily with her husband until they decided to unpack the package and get a divorce…. Since then things have started to get complicated. After the divorce from her husband in 2019 she decided to leave home. Since then, her ex has been living in her house for free, not paying rent, not paying taxes and not maintaining the house properly. By law she is still obligated to pay all the bills including water, electricity and gas because the property is registered in her name and if she stops paying there is a situation where the house will be foreclosed and her credit score will be harmed. And if that is not enough, the husband refuses to vacate the house because he knows her hands are tied and she cannot vacate it during the Corona period because laws were issued during this period to protect tenants with financial difficulties.
Needless to say, the husband refuses to cooperate with potential buyers or with real estate agents because once that happens he will have to look for a new place to live and start paying rent … There is a significant pain point here. She’s stuck … If you read to the end you can watch a conversation we had with one of our students from the escort program in which we had a conversation with the saleswoman with a similar story and understand how we solved the problem …
So if you thought it made no sense for someone to sell the property at a price significantly lower than the market value maybe you now understand what situations we are talking about.
By and large 95% of sellers do not make any sense to sell a property to a cash buyer investor or wholesaler just because they want to sell, these sellers must sell. And here there is a big difference. We are looking for the 5% of sellers who must sell and a standard sale with a real estate agent (MLS) will not give them the answer to their special needs and will not solve their pain point.
By and large, we are looking for a needle in a haystack. Most of the leads that will enter our panel will be low motivated and will want too high a price, especially in a super competitive market. But there will also be hot leads with highly motivated sellers who will be willing to hear about the As-Is Cash Offer
Usually these sellers will want to close at a time that suits them – sometimes it will be within 10 days or less and sometimes they will need more time to be able to pack all the contents of the house and find a new home. Sometimes they will want to stay in the property for a few days after the sale, and sometimes even a few weeks or months after the sale. We as wholesalers can give them this flexibility that in a standard sale will be very difficult for them to get.
Continue reading on our site…
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