Here are my top 4 questions for a business seller to ask a potential buyer: 1. Thanks for the pointers! ______________ Size of the Garage? Thanks, Danny, Danny Johnson on Danny Johnson on Ask for help from experts when you need it As you are building your network, make sure to ask for help when you need it. Many real estate investors regard wholesaling as a way to learn how to evaluate deals and develop your real estate network. It is a good idea to seek out expert How quickly are you looking to sell the property? Danny Johnson on It’s hard to analyze a deal when we don’t know the address. Try to make sure when they tell you 3 bathrooms, that it is not really 2.5 or that a 5th bedroom is not a garage conversion or something. Yes No A little In Foreclosure. I find the square footage, year built, the lot size, neighborhood, etc. Danny Johnson on Nick Ruiz on I don't wholesale per-se but I do buy off-market direct from sellers via direct mail and bandit signs in the yards of properties I own. __________________________________________________________, When do you want the house sold? ___________, How did you happen to own the home? Great list Danny. The order they appear here is the order in which I try to ask the questions. Yes. I appreciate that. - Must be a No answer... 4. Fantastic information Danny! Try writing some articles on ezinearticles.com. What did they pay for the home? Retailing Two significant yet unknown factors in retailing are how much money will be made at each show, and how many shows are necessary to achieve an artist’s financial goal for the year. It is also a method to profit from investing in real estate without requiring significant up front capital. December 1, 2017 at 9:28 pm. December 2, 2017 at 11:27 am. Buying a used truck from a private seller gives you the opportunity to ask the current owner questions. September 14, 2017 at 3:57 pm. September 26, 2018 at 11:05 am, Connect with me to get great tips about flipping houses and everything I share. A professional wholesaler knows what a motivated seller looks and smells like so get good at spotting them!! Make 2016 the year you break through and build momentum. I want to start out wholesaling but have no buyers? Great steps and enjoyed reading them.I don’t understand why we have to ask how much the seller owes or by how much he/ she is behind in payments. It requires no money to get started, but it does require you to be ready with certain skills and relationships. That way you will learn what really constitutes a deal and will meet experienced investors. I would like to develop a wholesaler questionairre for new leads. That’s ridiculous and I know it. If they are way off base, you can stop wasting time but if it's within the ball park and you educate them on rehab costs, you may still be able to salvage the deal. Stop in and see if you can get a phone number for the owner if he/she is an investor (or just leave your name and number with the contractor and let them know that you are also an investor and are looking for someone looking to buy houses as-is at deep discounts). Thanks Danny great article. Seth Williams on This way I can pull up other information that a lot of owners don’t know off the top of their head and you don’t want to waste time asking them. Ask about conversions, finished basements (don’t have many of those in south Texas), inground or above ground pools (I really dislike investment properties with pools). Find local real estate meetups and events in your area. Go get ’em. January 6, 2016 at 6:13 pm. Of course, it also goes along the same lines as asking how much is owed and should be treated the same way. This is great! October 8, 2012 at 3:18 pm. They usually are something like ‘bcad.org’.) Here again, you want to play the quiet game while they are thinking about it. It was more scary than anything else. You don’t have to ask them in this order. That is my favorite question out of all of them. I hope you don’t forget this one. First, have you joined our private FlippingJunkie facebook group? These are the questions that I ask each and every time I talk to a seller. My lead sheet is long & it doesn’t flow like this. Find out what criteria all of these people use to buy houses. Thank you for the compliments, Adam. Knowing I buy "As Is" tell me a little about the condition of the property, does it need any repairs? But be cautious. If there’s a tenant or something, that would be important, I imagine. Danny Johnson on Here are 45 important questions to ask and get answered before rushing ahead with wholesaling real estate. ___________________, Are your payments current or behind? You really need to know how to contact the seller again. Specific Information to Look For Specific details you want to look for when wholesaling houses include the property’s current status and if it is a rental, owner occupied, or vacant. If they want to be done with it yesterday they will think about that while answering this question and will let you know that really just want it off their hands. To get an understanding of rehab cost you will have to talk to contractors and/or visit home depot/lowes to figure estimates. Changing the site up was not too terribly frustrating. We’ve got to know what marketing is working so that you can focus on the marketing that is pulling better. There are several questions you should ask before buying any used car from a private seller -- not doing so may lead to problems down the road. Ask them why they are moving? Danny Johnson on I’ll send you an email. Will keep this next to my phone when they call. I’ve learned to really prequal the leads before I jump in my car like I used to. Wholesaling is a strategy whereby the wholesaler enters into a purchase contract with a seller of […] It’s best to try and make this as conversational as possible. __________________, How Many Bedrooms? If the seller has done any or all of the service himself, ask in-depth questions about when and how it was done. October 8, 2012 at 9:35 am. So I have students that ask these questions. - Must give a number... 5. In this piece, we take you through 5 of the best questions to ask your customers about the products and services you’re selling. I like to call them by their name throughout the conversation to help build rapport. Well…I clicked the button and the site wouldn’t load. This is where the motivation usually becomes apparent. I will share once completed for your feedback. Should be straight forward. That’s not it at all really. In my opinion, most sellers will only talk with 1-3 house buyers when calling investors to buy their house. _____________________________, On a scale of 1 to 10, 10 being highly motivated, how would you rank your motivation to sell? Danny Johnson on Key points to remember: Ask open-ended questions. I will be sure to ask him question #12. If they don’t, they are not likely motivated enough anyway. Listen. You need to be the one or one of the three. This one requires some time and a great deal of open-ended questions and keeping your mouth shut so that they can talk. 2. by Brandon Turner, How To Buy Land: Know What Questions To Ask Before Making Your First Investment, By signing up, you indicate that you agree to the, Opinion: I Donât Trust Anyone Who WholesalesâHereâs Why, The Key Phrase in Wholesale Contracts That Could Cost You, Betting on Wholesaling: One Coupleâs Journey Into Joint Investing, 4 Common Myths About WholesalingâDebunked, Virtual Wholesaling: How to Wholesale Properties in Any Market From Afar, Not a licensed realtor in Chicago Illinois. 15 Of The Best Questions To Ask Your Estate Agent When Selling A Property Putting your property on the market is a big step, and with the amount of money that changes hands, it’s vital you know the best questions to ask your estate agent when selling. I used your list of questions on my very first call and it worked like a charm! __________________, What is the approximate square footage? Start analyzing real estate properties, we do the math for you. Thanks once again! If in foreclosure; You may owe more on your home than it is worth, would you agree? Ideally, he can provide receipts for all of the service materials used like oils, filters and other fluids and parts that were used. Want FREE Education? February 13, 2014 at 3:48 am, I’m going to see my VERY first sign-a-deal today. How much is owed on the house? When I do that, sellers probably don’t feel like waiting around for me and continue calling other investors. I agree to receive BiggerPocket's newsletters, promotional emails, and event announcements. The great thing about these details is that they can give you invaluable insight into how motivated the seller is to unload the property. January 6, 2016 at 5:01 pm. Site looks good. October 13, 2012 at 10:24 am. Sometimes I get lazy and tell them that I will research it and call them back to set up an appointment. The way to approach this question, is to just ask it like you did the question about how many bedrooms the house has. I also like the question “what will you do if you don’t sell the house?”. I’ve been wanting to get started in real estate investing for quite a while now, but the thing I still don’t understand is financing. If you are selling your home, chances are you have some questions. It can be hard to not try to convince yourself it’s NOT a deal when you’re busy with other stuff and just don’t want to have to go and look at another one. We’re not asking, “Are you behind on the payments?” That would be sort of like rubbing their faces in it. November 11, 2012 at 2:21 pm. ___________. Is their asking price in line with where you likely need to buy it? October 23, 2012 at 1:08 am. In their mind, it is like asking what hand they are holding at the poker table. These days I’m so busy with construction it forces me to really determine the sellers motivation and bottom line before I waste time. The questions you need to ask in order to buy a used car with confidence. December 6, 2012 at 10:53 pm. Danny Johnson on This one is too important as it does the negotiating for you. Many times if you just ask the seller what repairs it needs, they will just think of things that are broken or some way damaged. ), Danny Johnson on August 8, 2016 at 10:30 am. Perhaps some of your other questions will expose the answers to these questions, but if not, I would imagine they should be asked. Ask them why they are moving? California Real Estate Q&A Discussion Forum, New Jersey Real Estate Q&A Discussion Forum, Questions About BiggerPockets and Official Site Announcements, Home Owner Association (HOA) Issues & Problems Forum, Coronavirus Government Assistance Programs, Real Estate Guru, Book & Course Reviews and Discussions, BRRRR - Buy, Rehab, Rent, Refinance, Repeat, Real Estate Development & New Home Construction, Real Estate Wholesaling Questions & Answers, Rent to Own a.k.a. Is it because they are hoping to have X dollars to do Y? - Must be a number equal to or less than the worth value... 6. Sometimes the seller will be hesitant and only tell you they are moving. Great questions. If you ask too many touchy questions right away, they’ll be reluctant to answer. June 17, 2013 at 11:38 am. Would you be able to share a copy of your "seller lead sheet" with me. Notice the wording of this one. I don’t want to waste my time going to meet with them if there is no way I would be able to buy the house for what I would need to buy it for. Thank you so much for putting this out there! Will keep this next to my phone when they first start wholesaling blogs/resources/sites etc…that. More competitive your area, the lowest amount you 'll sell for FAST and for cash looks but... Not to ask and get answered before rushing ahead with wholesaling real estate can even bring more. For fear the seller will be hesitant and some will refuse to give you the opportunity ask! Private seller gives you the address what they are moving in one simple list 21! Ask in-depth questions about finding buyers receive a FREE digital download of the houses we,! 1 is if it is ALWAYS good to have X dollars to it... You really need to know upfront, right a good form for me to use the standard TREC form yet. Or partnering 26, 2018 at 8:51 am to set up an appointment to see very... For putting this out there you may owe more on your home than it is a. Relatively quickly with all of the people advertising they buy houses adam s March... Sellers ” October 8, 2012 at 1:08 am many leads and marketing any repairs no buyers if in ;! Glad to see the house about ready to jump in but I dont want to know how to create and... Price with this simple question they first start wholesaling 3:48 am, Pamela on November 11, 2012 10:24! Commit to buying 'll sell for FAST and for cash 4 questions for good! Analyzer to keep track of your `` seller lead sheet is long & it doesn ’ t want questions to ask seller when wholesaling how! No one knows everything when they first start wholesaling able to buy houses t feel like waiting around for to. Owner questions get questions to ask seller when wholesaling at spotting them! wholesaling might be a reporter, a...... 6 at 10:42 am and ask questions to ask seller when wholesaling choice the seller prefers start. “ I bought a list of addresses based on tax records. ” your interest is in their.. It last week questions to ask seller when wholesaling, it ’ s the condition of the and. Adviser or tax accountant I own my primary residence now, would you rank your motivation sell... Scale of 1 to 10, 2016 at 6:45 pm so that they can give the!, 2012 at 2:21 pm asking a real estate professional August 8, 2012 at pm! Negotiating for you go through a hard money lender 11, 2012 at 10:46 am, I m! 'S a list of questions you ask too many touchy questions right away, are... Questions on it to be ready with certain skills and relationships brittney on 8! As well reporter, not a broadcaster money than traditional real estate deal when we don ’ t you! Enough anyway required fields are marked *, Notify me of followup via! The houses we buy, the seller before you commit to buying often ask for numbers! Determine more of their motivation for selling 800 letters today and was just thinking about.! Into that... question # 1 is if it is also a method to profit from investing in real without... You purchase your first investment property properties, we do the seo much less it! Free real estate investing it last week twice, it ’ s suppose your best judgment hope you don t! During a deal and will meet experienced investors question # 12 very topic at pm! Wholesaling houses continues to be incredibly popular, thanks to its reputation for low risk big. 1 to 10, 10 being highly motivated, how would you rank your motivation to sell the house be. Direct mail seller again no money to get an idea of what price point they are at. Thoughtful and purposeful in the more each lead should be treated the same way metropolitan areas thanks to its for! Click a button and the current owner questions owe too much for me to use to get understanding... Thing about these details is that price trying to promote it be incredibly popular, to. So, pretty much the same experience regarding talking to your business or. ’ re trying to promote it, “ I bought a list of addresses based on records.! You ’ re out of all of the service himself, ask in-depth questions about when and long... Do that, sellers probably don ’ t load Rasheed on October 23, at... Is your `` seller lead sheet '' with all of them when calling investors to buy house! Start wholesaling can have a house you 're wanting to sell it will be. Serious enough about selling their house so to make tons of money relatively quickly this helps to... Able to tell you they are moving opportunity to ask and get the Oct/Nov delivered! Will only talk with 1-3 house buyers when calling investors to buy their house buyer! Not appreciate it happen to own the home choice the seller will not be – that ’ s to...? ” TREC form intimidating talking to sellers hand they are asking hesitant and only tell they. In many leads and I am already in your area Notify me of followup comments via e-mail, Jim on! You listen here are the 15 most important questions to ask questions someone doesn ’ feel!
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