Can't seem to get financing. - Posted by Thom

Posted by JohnBoy on February 12, 2001 at 12:06:23:

Yeah, stop looking at properties that are being offered by other investors! That’s what those other ads are, other investors trying to sell with owner financing. You need to find MOTIVATED SELLERS! A motivated seller isn’t the type of seller that offers their property in the paper with owner financing or on lease options. If a motivated seller knew how to sell like this they wouldn’t be very motivated in the first place! The KEY is in finding MOTIVATED SELLERS! When you come across a true MOTIVATED SELLER, your credit won’t become an issue! The only thing they care about is SOMEONE to come along and SOLVE THEIR PROBLEM! You’re looking for sellers with a PROBLEM! Because of their PROBLEM, they become MOTIVATED. Your job is to find a SOLUTION that SOLVES their PROBLEM! Once you do that the deal practically closes itself!

Those ads you’re calling on now are other investors doing the same thing you will be trying to do! Trust me, you wouldn’t be able to make any money off these because these guys will be selling on terms way above market value and rents for the area. Focus on sellers that are MOTIVATED!

Can’t seem to get financing. - Posted by Thom

Posted by Thom on February 12, 2001 at 11:05:59:

Hello, I own the Carleton Sheets course, and I think that is definately a worthwile investment for anyone interested in a Real Estate venture.

Unfortunately, I have run across a big problem. There are so many profitable properties in my area that are offering lease/options, and owner financing, but they won’t offer them to me! :slight_smile: I’m 19 years old, so I don’t have a very elaborate credit history, but I do have extremely good credit for my age. The sellers require that I prequalify before they will finance me. Any advice on getting around that?


RE: Can’t get financing (Salesmanship is the KEY!) - Posted by Jeff Bliven

Posted by Jeff Bliven on February 12, 2001 at 12:18:42:


This is where you need to be a creative story-teller, you need to distort or stretch the truth a little!

Some would call it lying, I prefer to call it an “Alternative Reality”!

Tell them that you are working for your parents:, tell them you are an employee of an Investment Co. (set one up), tell them that “yes I am young, and mature & extremely confident in my business dealings, however if you still have concerns, ‘so-n-so’ is going to guarantee my business dealings!” (find a backer)

A little story that may help you??

My first job out of college was as the "Asst. Controller for a National R.E. Investment & Management Co. I interviewed with the president, only because when I went on the placement interview, he was the only one there that day of the partners / upper-mgmt!

On one hand, I was more nervous than I normally would have been! The interview went well, and I could tell he liked me and what he was hearing from me… However, I could tell I was not going to be considered because of my lack of practical experience and my young tender age of 21! (I did 4 yr. in 3!)

SO, thinking fast, I laid it on the line… I said, “Mr. Rogers, I get the impression that you would like me to work for your company, and I also get the impression that you are concerned about my experience level & age, an I correct?” Praying for the right answer…YES! As I continued, I had to overcome these ‘deal breakers’, so I said, "Let me say this… #1) I would love the opportunity to work for you and your company, #2) I am extremely confident that I can do this job, not just to a satisfactory level, but I am confident that I can & will do whatever it takes to do the best job this company has ever seen! And, to back these words up with action, LET ME MAKE YOU A DEAL… I will work FREE of charge for one month for you and your company, and if you are not completely satisfied with me in any way, shape or form I will leave without you owing me a single penny! And I’ll be happy to put in writing. However, if you decide at that time or BEFORE (confident here) that I AM THE RIGHT PERSON for this position, I ask that… #1) I get paid for the month that I just worked! #2) That I get paid at a level that is EQUAL to my abilities & performance, regardless of experience or AGE!

He scratched his chin, leaned forward, extended his hand to shake mine and said, “You’re Hired! Forget that deal you just mentioned, and how about $$$ per month to start?” (2X the top rate the job was offering) He later went on to say that they weren’t just looking for an ASST., but really a replacement for the current Controller that was retiring in about 6 months!

Sorry for the long story, but there aren’t too many times when I can use it as a good example!

BOTTOM LINE is… Prove that your AGE isn’t a LIABILITY to your prospects! You need to work on SELLING yourself and exude CONFIDENCE, both in yourself as well as your ideas!!

Good Luck…
Jeff Bliven

PS. Thom, what part of the country are you doing this in??