Posted by TOBY HOLLOWAY on October 31, 2005 at 23:18:08:
No insult taken. Your advice has been very helpful in more ways than you could imagine. Thank You.
MOTIVATIED SELLER/ PRESIDENT OF BANK - Posted by TOBY HOLLOWAY
Posted by TOBY HOLLOWAY on October 31, 2005 at 18:49:13:
I got a lead on a home this morning and could use alittle advice. The owner’s are very motivated to sell due because their kids took partying more serious than college.
When I contact him and set an appointment to walk the house, what are some genarl questions I should ask him?
How do I approach seller who is the President of a Bank so that I can make good relationship for future deals? I have know credit, know job proof. I’m turning the property over to a fellow investor who pays me cash if the deals go through. In know way am I gonna ask him for a loan. I’m just trying to look ahead. Should I tell him that I too took partying more serious than college and know paying the price but on the verge of doing something with my life or should I just keep quite?
Thanks for the help everyone.
Re: MOTIVATIED SELLER/ PRESIDENT OF BANK - Posted by reo-1
Posted by reo-1 on October 31, 2005 at 22:12:26:
Toby,
First & foremost…you have to understand the psyche of a banker. These people are incredibly conservative by their nature. They spent a lot of money going to college for 4 years to learn how to get a boring job looking at numbers all day long. Not exciting. Keep this very important point in mind…people like to do business with people who are like themself, and this is essential in your deal. If you let this Bank President get the impression that you were a (no insult intended) failure at college, he may see you as being too unlike him & will not want any part of this deal, even if you do remind him of his son (who, by the way, is making Daddy extremely upset because of his shortsighted thinking and immaturity) This bank president will not want to do business with anybody like his son as that would be advocating being a slacker. Secondly, and this is almost as important…please understand I mean no insult with this following statement, but judging by your grammar & spelling you may want to consider asking somebody you trust to proof-read your letters and offers for spelling & grammar mistakes. A truck driver may not care ( no insult to truck drivers), but this bank President’s life is all about the details & all communciations with him need to be absolutely perfect. These suggestions may be better off in the long run for you than a short list of questions for this specific deal.
Take no offense, I’m trying to help.
Good luck!
Re: MOTIVATIED SELLER/ PRESIDENT OF BANK - Posted by TOBY HOLLOWAY
Posted by TOBY HOLLOWAY on October 31, 2005 at 22:29:59:
I do apologize for my lack of knowledge in English. My grammar, spelling mistakes, and not bieng able to place words proper in sentences have cost me a few deals. Thanks for your advice.
Re: MOTIVATIED SELLER/ PRESIDENT OF BANK - Posted by reo-1
Posted by reo-1 on October 31, 2005 at 22:56:26:
As I said earlier, please do not take this as any kind of insult…just trying to help.
Good luck!