would like some advice…? Create your credibility…some ideas… - Posted by Kelvan
Posted by Kelvan on April 30, 2000 at 24:59:49:
My circumstances: 26 years old, $12,000 in collections, living paycheck to paycheck and thinking nobody would take me seriously because I still look like a kid to most people (dang baby face )…so…I made a game out of it. I always approached sellers with the “higher authority” approach by saying “we” a lot in the conversation. I wore my gold-rimmed accounting glasses and spoke professionally (key here, learn the real estate lingo). Part of the game in my mind was, “I don’t need this deal.” I had walkaway power. No matter how much you’re tempted, don’t live or die with your offer. You don’t need to hit a home run in your first major league at-bat.
One other thing I used repeatedly until the first offer was accepted was this. They would inevitably ask who else was in this with me (your dad? an uncle?). I would chuckle…“Oh, I think they wish they were in my line of business. But actually, my partners and I keep very busy looking for properties. We get together and discuss the one’s we’ve visited and make a decision from there.”
If you can learn the lingo, present yourself professionally, and have some good responses prepared, they WILL take you seriously. Also remember this. If you put just one deal together every six months, you’re going to retire at age 30 with 18 properties/flips under your belt. That spells retirement, amigo. My guess is that even if it takes 6 months for the first deal, it won’t take that long for the second or the third, etc.
You’ll build knowledge, industry contacts, a system you’re comfortable with and be turning deals left and right.
P.S. I can’t qualify for conventional bank financing, didn’t own my own home, or have a line of credit to work with.
I have a couple newspaper ads I’ve used with overwhelming response and a pretty good “I’m not low-balling you” worksheet. I get the info off the internet to fill it in and present it with the offers if they seem low-ball. If you have Microsoft Publisher, I can email you the template.