How to Talk to Motivated Sellers with Laura Lenington – Episode #379
Jul 15, 2022
How to Talk to Motivated Sellers with Laura Lenington – Episode #379
So many investors find it hard to talk to motivated sellers and make offers confidently. But let’s face it; real estate investors have to know how to do this to grow a successful business. For many people, it’s just practice. It’s simply making (low-ball) offers over time that makes the difference. In today’s show, you’re going to get some actionable, rock-solid tips that will make this process a whole lot easier so let’s dive in.
Laura has been a full-time real estate investor since 2014. Prior to that, she was an active-duty soldier in the US Army who then worked for the Department of Defense as a civilian employee. Since getting started in 2014, Laura has focused on wholesaling off-market properties. She has also completed a full rehab on a single-family property, holds a small rental portfolio, and has done a few wholetail flips. This year Laura has also been focused on expanding her rental portfolio with multi-family units of 8 or more doors and is getting ready to close on an 11-unit building with seller financing next week.
Key Highlights:
[00:01 – 07:29] Opening Segment
Laura's background and work
An overview of how to talk to motivated sellers
How Laura got into real estate investing
[07:30 – 14:40] How to Wholesale Like a Pro
How Laura bought a house from another local investor and rehabbed it herself
Why Laura changed her mindset after talking to a successful investor
People should listen to motivated sellers and spend time with them to build rapport
[14:41 – 21:41] How to Get Deals When You Don't Need Them
Not every phone call or every person that calls you is gonna be a fit, so you have to be ready
The key to successful follow-up is establishing rapport and not being judgmental
Sellers often bring unrealistic expectations to the conversation, which can lead to deals not being possible
[21:42 – 29:04] Tips for Negotiating with Sellers
Have conversations with sellers in a way that makes them feel heard and understood
Use licensed contractors because they are inspected and have the same quality standards as licensed professionals
Create a positive relationship with sellers
Send a thank you note and bond journal after negotiations are complete
[29:05 – 35:54] How to Succeed with a Coach
Why getting a coach can help you grow in your business
Coaching is an investment that will pay off, and you need to be coachable to get the most out of it
You should get a coach for things like money deals, personal development, and growth
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