On this week’s REIVault Weekly Huddle Call, Cris Chico, Gary Boomershine and Steve presided on the call and answered questions about figuring out how the property is worth or if it's really that critical to know, some buying signals and rule of sale. They also had a discussion about seller's attitude and how to deal with sellers. Some shared their experiences on deals and discussed some points on sending presell, some Seller objections and a specific private lender concern. There were also some announcements about updates in reivault.com and new process in Podio that was discussed.
Topics and Times
59:00 Gary announced some of the training materials in reivault.com/start for those who are new
01:16 Login to email@example.com to get an instant ticket number and for them to track it and respond carefully.
01:50 Send concerns about deals that are real estate related to firstname.lastname@example.org that will allow them to get the answer into the right person faster.
02:16 Send any suggestion or idea on how to improve this group to email@example.com.
2:44 Chris discussed about the ticket that he received regarding a stock value and ARV and how to figure out how the property is worth and shared his answer and introduced Steve and his roles.
5:42 Steve discussed how he agreed with how Chris responded on the ticket, pointed out his thoughts on getting the cheapest price possible and the importance of getting something out of a deal even if it's not what he wanted in the beginning.
07:58 Gary gave his opinion regarding seller's attitude, building relationship and trust with the seller. He also pointed some buying signals, rule of sale, even shared a story about an upcoming deal which started from $350 and ended buying it for $190, another story about his conversation with Travis, an experienced investor. He shared how Travis has been interacting constantly with the seller. Gary pointed out the lessons taken from the deal.
13:58 Discussion and sharing experiences on deals and how to deal with sellers.
15:21 Highlighted Steve's call dated 05-06-14, how he talked with seller, received a lot of good feedbacks. Go to the membership site and login with your username and password. In the left hand side, there's a little search, type Steve to take you to that call or go to coaching under weekly huddle call archive.
17:05 Another update regarding a new process in Podio where they can identify hang ups & automatically text message if the seller hang up within 20 seconds. If you want to be added email firstname.lastname@example.org with the subject line of "add me to the beta for hang ups and text message".
18:55 Started inquiry about sending preselling.
20:48 Discussion about sending postcards and its variables.
22:30 Presell point’s discussion and building own market.
24:31 Tracking presell status.
26:19 Tracking the cost of the deal and marketing.
27:26 Update about the envelope of the presell that's being send.
28:05 Question about upcoming deal, if will be bringing a contract. Pointed the importance of building rapport and trust whenever you walk-in.
30:06 Question about hang ups, pointed the need to call them ASAP.
31:41 Eman asked about how to set up a realtor with the seller and how it works very well. Pointed the need to work with someone who knows the game of investing.
36:48 Suggestions regarding moving a deal quickly.
39:04 Seller objections specifically about tenant concerns.
42:57 Deposit issues,$100 dollar deposit.
44:14 Another tenant concern, seller asking if tenant can stay on the property after the sale.
46:39 Handling objections regarding seller's bad experience with a previous wholesaler.
52:04 Art asked about the Best way in pricing a deal out.
53:44 Pointers about properties that are vacant for certain amount of time.
55:27 Discussion about whether To see the property or not.
56:18 Suggestions in finding out the price wherein you can make money from a specific deal situation based on Art's question.
58:54 Too good to be true scenario about a private lender.
1:04:10 Send message to email@example.com for any help.
1:05:49 end of call
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