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.
[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
[35:55 – 37:08] Closing Segment
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