I get a lot of questions from new investors. You notice over time the same ones keep coming up again and again so I thought I would write about one today. One of the most frequently asked questions of all has to do with screening motivated sellers.
It goes something like this-
“How do I quickly find out in that initial phone call if I have a motivated seller, and how can I get them to tell me how much they want for the house? I ‘m wasting a lot of time on the phone, then I drive out to the property only to find out it’s a house that needs to be listed with a Realtor”.
My answer to that is you should never be getting in your car to drive to a property without a reasonable expectation that you can buy the property at a deeply discounted price. There will be times when you won’t know for sure if you can get to the exact number you need until you meet the seller face to face, but that initial conversation should let you know if you have a potentially motivated seller.
How exactly do you get better at this process? The short answer is that it takes practice. However, there are some steps you can take to speed this process up. Read the rest of this entry →