This video really helped me decide how to do the blind offers. I was over thinking it, thinking about doing comps in the same subdivisions as the properties, etc. I'm just going to come up with a number based on a low percentage of average prices, throw in a contingency clause like subject to inspection of the property and just try to make the numbers work. I'm with you, I don't want to do a lot of work that leads nowhere.
Great content here as usual. Question - if one is just getting started, that is, just got their list and about to do their first postcard mailout, should we set up a website questionairre like this first and put it on the postcard for them to respond to? I'm asking because I've watched some other interviews you've done, and the investors said basically "just get out that first list and start making offers, don't worry about a big website, setting up a LLC, etc. Just get started !" so, in that vein, I was going to just put a Google voice number and email they could respond to, listed on the postcard. Then, for those that leave a message or email me, I was planning on following up with a phone call to talk to the person to get all the info, then, after researching, call them back and make an offer over the phone. I'm wondering if this way would be an effective way to start, or should I set up email with questionaire first, so everything is being done online, before speaking with them, etc.? Thanks as always.
I think you're on the right track. A website is a great tool to have long-term, but I wouldn't let this keep you from sending out that first campaign. Just setting up a Google Voice number to see what comes back will give you a lot of information you can work with. Even if it is a little more time-consuming to handle everything without a website, I wouldn't hesitate to start moving (I didn't have a buying website when I first got started and it worked out fine for me)!
Hi Seth and thank you. Your generosity is epic. You're the gentleman-mentor. The fact you are getting some of your viewers uncomfortable with your lowballing is on point. Wholesaling is a different animal.
In the Australian Legal System, what you have stated is quite correct. It is not a legally binding contract if they accept. By your wording "would you consider" you are making a request for information; no offer is made. I guess the American Legal System is similar by common law principles.
Hey Seth love it I’m subscribing now. Question how do the transaction with money that’s owed towards the property. Do they pay with money they receive.
If there are delinquent taxes or other closing costs, I'll typically pay for all of it (that's part of why someone would sell their property for so cheap in the first place, because I'm making everything in the process easy for them).
Seth, I just got into the land flipping business. I really appreciate all that you have here. I just want to say Thank you for all the hard work of doing and uploading these. Can I ask what program you use for your training, like when you zoom into show something specific then zoom out. Thank you
but isn't that an extremely low offer that is just going to not take the offer seriously? cause even if the seller is COMPLETELY OFF from his $30k estimated value....you offering $2,500 seems they can think that you are not serious. what is your rebuttal when they either call you or reply via email (i'm assuming there are lots of those)... i'm curious to know because I am just starting but not trying to make a living out of it....
I don't understand the reasoning of offering 10% (or less in this case) of the market value of a property. Offering $2,500 for a $30,000 market value property seems so far from insulting it's insane. My first thought if anyone even considered accepting that would be to give them the number of a therapist for evaluation. Am I missing something here?
+Seth Williams I was thinking the same thing that Bill was thinking. Now I am also thinking that you may be missing out on a lot of deals where they would sell for 1/2 of the value of the property. I am new & all, but from what i've read the standard is 70%-repairs which seems to be averaging 50-60% of ARV. Would it make more sense to add an employee to be able to handle more leads instead of only cherry picking the top 5% and losing the 6%-15% that would still make money? And then of course there's another 15% that could be lease optioned.
Thanks for the helpful video. I'm guessing you get a good amount of traffic to your website in order for people to fill out these questions. What if someone doesn't have a lot of website traffic? Would you recommend they email or text homeowners and then send them the questions? thanks
I made my comment below before finding your explanation as to why you make these offers. I was thinking of Realtors when you were making these offers and you specifically said you don't work with them and just work with highly motivated sellers. It now makes sense, but I still would find it hard for me to feel comfortable making such low-ball offers (I'm a Realtor !!!)
This video really helped me decide how to do the blind offers. I was over thinking it, thinking about doing comps in the same subdivisions as the properties, etc. I'm just going to come up with a number based on a low percentage of average prices, throw in a contingency clause like subject to inspection of the property and just try to make the numbers work. I'm with you, I don't want to do a lot of work that leads nowhere.
Glad it helped Rich! Yeah, it's very easy to overthink this stuff - but the idea is to come up with the "minimal viable valuation" and go from there.
REtipster Gearing up to get my letter & contract to ITI tomorrow. Just starting with 500 offers. It’s been an Excel-lent weekend😊.
Great content here as usual. Question - if one is just getting started, that is, just got their list and about to do their first postcard mailout, should we set up a website questionairre like this first and put it on the postcard for them to respond to? I'm asking because I've watched some other interviews you've done, and the investors said basically "just get out that first list and start making offers, don't worry about a big website, setting up a LLC, etc. Just get started !" so, in that vein, I was going to just put a Google voice number and email they could respond to, listed on the postcard. Then, for those that leave a message or email me, I was planning on following up with a phone call to talk to the person to get all the info, then, after researching, call them back and make an offer over the phone. I'm wondering if this way would be an effective way to start, or should I set up email with questionaire first, so everything is being done online, before speaking with them, etc.? Thanks as always.
I think you're on the right track. A website is a great tool to have long-term, but I wouldn't let this keep you from sending out that first campaign. Just setting up a Google Voice number to see what comes back will give you a lot of information you can work with. Even if it is a little more time-consuming to handle everything without a website, I wouldn't hesitate to start moving (I didn't have a buying website when I first got started and it worked out fine for me)!
Hi Seth and thank you. Your generosity is epic. You're the gentleman-mentor. The fact you are getting some of your viewers uncomfortable with your lowballing is on point. Wholesaling is a different animal.
In the Australian Legal System, what you have stated is quite correct. It is not a legally binding contract if they accept. By your wording "would you consider" you are making a request for information; no offer is made. I guess the American Legal System is similar by common law principles.
Hey Seth love it I’m subscribing now. Question how do the transaction with money that’s owed towards the property. Do they pay with money they receive.
If there are delinquent taxes or other closing costs, I'll typically pay for all of it (that's part of why someone would sell their property for so cheap in the first place, because I'm making everything in the process easy for them).
Just so I’m clear this is with wholesaling?
@@phototroopax0014 - it could be, but doesn't have to be. This is just one way to quickly make offers to qualified prospects.
Seth, I just got into the land flipping business. I really appreciate all that you have here. I just want to say Thank you for all the hard work of doing and uploading these. Can I ask what program you use for your training, like when you zoom into show something specific then zoom out. Thank you
but isn't that an extremely low offer that is just going to not take the offer seriously? cause even if the seller is COMPLETELY OFF from his $30k estimated value....you offering $2,500 seems they can think that you are not serious. what is your rebuttal when they either call you or reply via email (i'm assuming there are lots of those)... i'm curious to know because I am just starting but not trying to make a living out of it....
15-20% response is fantastic!
Do the new owner pay it
I don't understand the reasoning of offering 10% (or less in this case) of the market value of a property. Offering $2,500 for a $30,000 market value property seems so far from insulting it's insane. My first thought if anyone even considered accepting that would be to give them the number of a therapist for evaluation. Am I missing something here?
+Seth Williams I was thinking the same thing that Bill was thinking. Now I am also thinking that you may be missing out on a lot of deals where they would sell for 1/2 of the value of the property. I am new & all, but from what i've read the standard is 70%-repairs which seems to be averaging 50-60% of ARV. Would it make more sense to add an employee to be able to handle more leads instead of only cherry picking the top 5% and losing the 6%-15% that would still make money? And then of course there's another 15% that could be lease optioned.
Thanks for the helpful video. I'm guessing you get a good amount of traffic to your website in order for people to fill out these questions. What if someone doesn't have a lot of website traffic? Would you recommend they email or text homeowners and then send them the questions? thanks
Great, thanks for the fast response!
Hi Seth and thanks for this great channel. My question is if you make a very low offer like 2,500 won't they get pissed off
Seth, do you have those questions written down anywhere on your website?
Thanks for all the info!
Hi Seth. How can I get a site like yours that allows me to get motivated buyers?
Seth the link back to the article on your website is dead now
Will save you some time finding it. Here it is. retipster.com/make-offer-30-seconds/
I made my comment below before finding your explanation as to why you make these offers. I was thinking of Realtors when you were making these offers and you specifically said you don't work with them and just work with highly motivated sellers. It now makes sense, but I still would find it hard for me to feel comfortable making such low-ball offers (I'm a Realtor !!!)
I bet you get a few curse word laced replies on a regular basis...