Asking The Right Questions is Key!
If you came here because you think “I’m gonna get rich off of real estate”, good luck, you’re not gonna make it, because you have to understand what these homeowners are going through and you are going to be a solution for them, you are going to be a solution for their problem.
If you come and approach it, I promise you, you’re going to beat out every other investor, because most people come into this with, “Hey, I can close in two days. Hey, I can put this or that, whatever you need, no problem all, blah blah blah.”
But if you come in and say, “Hey, tell me what’s going on. Okay, awesome. So here are the different options that you have in this situation. So yes, so how much do you owe on this? Okay, awesome. So this is what the bank is willing to do. And this is how we can help.”
Completely different approach, because now I’m building rapport. If I have the knowledge to be able to make her comfortable, because she’s going through this situation, and she doesn’t think that I’m just trying to make money off of her, and she doesn’t think that I’m just trying to get something out of it, she’s my client for life.
I promise you, you can call her, you can call her, you can call her, you can call her, you can call her, and she’ll say “Nicole’s helping me”. And I know that because it happens all the time.
So I started in the DFW market, and built my entire brand, there.
So you know, it’s very small community, right?
Even though there’s a million people, the people that are legitimate are the people that you know. Everybody knows everybody. And so they’ll go to appointments, and I’ve been referred the same client by five different investors.
And I asked the seller, “who do you want to work with?” Because they all have the contact information like, “Hey, I got this short sale for you.” I’m like, “I’m on my way to the appointment. I already got it. And awesome”.
And so they’ll tell me every single time, “hey, I want to work with this person.” “Why?” That’s my person.” and because they spent the time to shoot the shit with them, talk to them, get to know them and provide solutions.
And even though all the other people got the contact information, she’s like no no no, I’m gonna work with this person. So understand that when you are providing solutions, and that when you are talking to them and trying to understand their situation, you will build rapport so much faster than just “Hey, I want to buy your house.
Hey, I’m your Nicole Espinosa and I saw your house on 123 Main blah blah blah, can you sell to me, I have cash.” So does everybody else.
- What are you aware of?
- What are your payoffs?
- What, as far as the property goes, is owed on the property?
So for example, if they say, “well, I have a loan with Wells Fargo.” Awesome. Do you have any other loans? Do you have taxes that are due? All of this you need to know, not just with short sales.
So again, remember, I said to you, everything I’m gonna tell you, write it down anyway, the more that you are driving the bus, the more that you know, the less you’re going to end up at closing and deals will fall apart.
There’s enough information out there to where you should never go to closing any deal ballpark, it happens all the time, and I don’t understand it. I don’t understand how you could go through all of this work, and then at title, two liens show up, or they already got foreclosed on.
Why? Because they weren’t asking the right questions.
They were just so excited that they got a contract signed, and they gave it to the title company and then that was it.
So who likes working for free? Nobody? That’s what you’re doing.
If anything, you’re not working for free. It’s frickin costing you. So that’s even worse. You’re not even working for free, it’s costing you money because it’s costing you your time and your time is the only commodity that we have in real estate. I want you to think about that.
And I want you to understand that if you do not value your time, you will not be successful. The most successful people are intentional with what they do every single day. Because as entrepreneurs, because that’s what we are, we are entrepreneurs. As entrepreneurs, if you are not intentional with how you plan your day, do you know how much time you will waste on Facebook?
Do you know how much time you will waste doing absolutely nothing income producing? So much, before you know it, it’s 2pm and you haven’t done shit.
Or you intended to post on Facebook about whatever, and you got caught up in some baby pictures and somebody’s hair and somebody this and somebody that and none of it frickin matters.
So if you’re not intentional with the questions that you ask and the things that you do every day, you’re never going to make it. Everybody has the same amount of time. The difference is what are you doing with it?
We have the Facebook group, the only short sale group worth being a part of that you can always come and ask questions, as well as the book that I wrote Short Sales Uncensored that you can find on Amazon. So always feel free to reach out to us if you have any more questions or if we can help in any way.