Thanks a lot man had my most successful month here in December w 3 closings! Your videos on negotiating has helped me earn some big checks! Merry Christmas man thanks so much
THAT PERSPECTIVE JERRY, IS SO BEAUTIFUL. IM DEFINITELY GONNA START USING THIS TECHNIQUE BECAUSE THATS ALL I RUN INTO, OWNERS WANTING RETAIL, AND THE HOUSE IS TRASH! THANK YOU JERRY!!!💯
Thank you Jerry. I was looking for a way to educate the seller and get them to understand how their house could sell at the price they want and this was exactly what I'm looking for.
I am learning some strategies and so i am more relaxed. I really like how you tell a seller who wants retail: you can get it ...IF ... I will watch more. thanks.
Jerry you put out the best content! I found you from Pace Morby’s page when he posted about you and after watching a lot of your content I can definitely say it’s the best channel on TH-cam for REI!!!
Thank you and Merry Christmas to you and your beautiful family. This information and learning to give sellers this detailed breakdown is really going to boost my confidence during appointments in 2020. God bless!
In my market I frequently offer to pay (city or bright) liens and back taxes. I always want to assume the liens because I can negotiate those. I call my attorney and she does a quick title search for me as am going into contract. That way I know what I’m getting into. I just bake those costs into my offer.
Jerry do you recommend any audiobooks on mindset? I struggle with being positive and really believing that a $40k+ assignment fee is out there for me today.
Here you go! FREE Purchase & Sale and Assignment Contracts: flippingmastery.com/wcyt *Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com
Hey, Jerry. Great advice: be agreeable. I was wondering how you know what things need to be replaced, or fixed (kitchen, roof, bathroom, etc.) while you're in the phone with them AND how someone, like myself who hasn't done rehab work, knows what it costs for that work? Then, later in the video you eluded to actually BEING AT the house. That's interesting. Shouldn't we do what I heard Ron LeGrand say recently in one of his talks? He said, I don't even go out to the house unless I know I have a deal and they're READY to do business with me today. Just wondering, because that makes sense to save a lot of time. 😃
heyJerry, great tips. This is for talking to a private seller. I have one that is actually owned by a realtor, its a complete rehab. How do I talk the realtor down to my price. We are off by 30K.
Haha well Mr. Seller if I were to name my price first, you're going to hangup on me... Let's start on your price and we'll see how and what I can do to go up to it........ *If they're still hesitant, throw out a comp that's cash and see if that's around what they were looking for*
When making calls how do you know who to follow up with? I’ve been making a lot of calls and a lot of people have said they’re not interested. Do I still follow up with all of them? That’s gonna be a lot of follow up.
I went to join the webinar today but it required Flash, which I refuse to install because of the security issues. Is there another way to watch the webinars?
Good evening Jerry; I am wondering if you have septic systems inspected and also wonder about... I get homeowners asking me for earnest money, do you ever pay this and if not how can I get around it? Thank you! Edward
Jerry, great tips. However, on the 200K property, you say ",it will cost 50K to fix up" they say "okay, then lets do 200k-50k". Then you say, there will also be realtor commissions of 6% or 9K, and they say okay, lets minus that, so now its 200K-50K-9 K, which is 141K. So if they subtract the costs, then what do you say to ensure that there is 40K profit for you at the end. (Im saying 40K profit, cause that is your requirement for the 10K club)
@@FlippingMastery Yes, I understood how to plug the numbers in the calculation. What Im asking is that if the seller asks you to list all the costs that would decrease the price from the ARV, then what do you say to ensure your profit. For example, the ARV is 200K, the repairs are 50K, the seller may say "Ok so we are down to 150K". Then how do I get him to decrease by the amount of the closing costs and the profit of 40K? He is probably going to say "But you said you would take care of the closing costs, so why do I have to pay those? Besides why should I reduce the price so you can get a 40K profit" How do I counter that argument and get him to reduce the price?
Its on your online account once you are a member of my finder program. My support team would be happy to help with that! Please reach out to them at: support@flippingmastery.com or (888) 958-3028 If not yet, go here to learn more: My10kcheck.com
Sergio Aguinaga Pay closing costs, realtor fees, move out furniture, takes 2 months + to close, has to deal w open houses, may have to fix other repairs in order for it to appraise w mortgage, and the list goes on! Find out their motivation and work it.
King Cap good idea on the realtor fees. But, someone on the mls can offer cash and close fast as well, since if the property is distressed it’ll be from another investor. Distressed properties won’t qualify for bank loans, so that too I can say.
@@sergioaguinaga9619 you want that house before it hits the MLS. You dont mention they could get a cash buyer via the MLS but guide the conversation back to losing it in time waiting for it to sell, show, repair.
You lost me after your third point that you are making on your list under retail. Here's how I heard it. 1. Hire real estate agent (actually a positive, because a good real estate agent can get you more) 2. Showing a house ( included for free with any half decent real estate agent- they're motivated to sell that house and get that Commission) 3. Fix up: lie to the person and over exaggerate the cost of repair. Considering you can basically build a house out of a toothpick using TH-cam instructional videos there has been a massive increase in do-it-yourselfers over the past 5 years.... Just be honest with the customer and tell him that there's got to be some meat on the bone for you otherwise it's not worth your time.
Law of abundance over law of scarcity 😍🙌🏾
Thanks a lot man had my most successful month here in December w 3 closings! Your videos on negotiating has helped me earn some big checks! Merry Christmas man thanks so much
Congrats Aaron! Wholesaling?
Hi Aaron, if you are dealing with contractors often, here is a video that may help you negotiate. th-cam.com/video/sCm-ZRGcrTg/w-d-xo.html
Jerry, you're a flipping genius 😊🤗
This is GOLD! That's for the help very good negotiating tips! 👍🏾
brilliant layout to the seller. completely honest and objective. helps so many people out of tough situations as well.
THAT PERSPECTIVE JERRY, IS SO BEAUTIFUL. IM DEFINITELY GONNA START USING THIS TECHNIQUE BECAUSE THATS ALL I RUN INTO, OWNERS WANTING RETAIL, AND THE HOUSE IS TRASH! THANK YOU JERRY!!!💯
I bet this will be very helpful. Thank you
thank you, you are flipping genius, amazing content.
Thank you Jerry. I was looking for a way to educate the seller and get them to understand how their house could sell at the price they want and this was exactly what I'm looking for.
Gold Jerry. Pure gold. Love your approach, insights, and your character. Learning lots from you and your videos. Thanks Jerry!
I am learning some strategies and so i am more relaxed. I really like how you tell a seller who wants retail: you can get it ...IF ... I will watch more. thanks.
Muchas gracias 🙏 you are a flipping genius !!
Going on my first appointment with a seller later today and this video is exactly what I needed thanks Jerry 👌🏼
hell yea im using this Mr. Norton.. On all sellers.
Next video please: "How to judge the seller is not motivated and stop wasting your time".
Awesomeness ‼️🙌🏽
I pointed out everything on the left side of that chart right from the beginning of an appointment and signed another contract.
👊👊👏👏
Jerry you put out the best content! I found you from Pace Morby’s page when he posted about you and after watching a lot of your content I can definitely say it’s the best channel on TH-cam for REI!!!
As always another highly educational video. Thank you Jerry!
Thank you and Merry Christmas to you and your beautiful family. This information and learning to give sellers this detailed breakdown is really going to boost my confidence during appointments in 2020. God bless!
🙏🏻🙏🏻🙏🏻
In my market I frequently offer to pay (city or bright) liens and back taxes. I always want to assume the liens because I can negotiate those. I call my attorney and she does a quick title search for me as am going into contract. That way I know what I’m getting into. I just bake those costs into my offer.
As long as you know going in.
Jerry do you recommend any audiobooks on mindset? I struggle with being positive and really believing that a $40k+ assignment fee is out there for me today.
Great video! Thanks!
Great advice! Thanks
Before this video I would feel stupid whenever a seller would say, “My home isn’t for sale” and I would just say, “Okay.” I feel gucci now
This is a great tactic!! Love it bro!!
👊🏻
Does anyone know where I find his contracts at on the website I’m having trouble finding it
Here you go!
FREE Purchase & Sale and Assignment Contracts:
flippingmastery.com/wcyt
*Once you enter your email, it’s automatically emailed to you. If you don’t see it, check your junk/spam folder in case your email provider put it there...If you still don’t see it, my team can help you out. Support@flippingmastery.com
Hey Jerry, I've been wondering for a while how does tax and all that come into play with your wholesale fee/ fix and flip profit?
I believe you do a LLC and how ever much your company makes you pay tax on that after write offs and stuff
Phenomenal video.. can you make a video on hiring/building a team( Acquisition/disposition managers/ etc). Thanks.
2020 will be interesting! Thanks Jerry!
Hey, Jerry. Great advice: be agreeable. I was wondering how you know what things need to be replaced, or fixed (kitchen, roof, bathroom, etc.) while you're in the phone with them AND how someone, like myself who hasn't done rehab work, knows what it costs for that work?
Then, later in the video you eluded to actually BEING AT the house. That's interesting. Shouldn't we do what I heard Ron LeGrand say recently in one of his talks? He said, I don't even go out to the house unless I know I have a deal and they're READY to do business with me today. Just wondering, because that makes sense to save a lot of time. 😃
Correct, watch this for clarification th-cam.com/video/Njm5Olk4CFw/w-d-xo.html
heyJerry, great tips. This is for talking to a private seller. I have one that is actually owned by a realtor, its a complete rehab. How do I talk the realtor down to my price. We are off by 30K.
What do you do when the seller wants you to name your price first
Haha well Mr. Seller if I were to name my price first, you're going to hangup on me... Let's start on your price and we'll see how and what I can do to go up to it........ *If they're still hesitant, throw out a comp that's cash and see if that's around what they were looking for*
When making calls how do you know who to follow up with? I’ve been making a lot of calls and a lot of people have said they’re not interested. Do I still follow up with all of them? That’s gonna be a lot of follow up.
I think if you develop a rapport with the seller(s), they might call you when they are ready to sell. So, keep in touch.
when you say 5% fo the market do you mean the entire US market or 5% of individual markets??
I went to join the webinar today but it required Flash, which I refuse to install because of the security issues. Is there another way to watch the webinars?
All webinars require Flash players.
@@FlippingMastery is there a private youtube then? I know these are pre-recorded so there isn't a need for a person to be there.
Jetah yes. Which webinar are you looking for?
@@FlippingMastery The $10k finding ugly houses.
@@jetah50 there is an issue with chrome and flash. Use firefox to watch the webinars.
Good evening Jerry; I am wondering if you have septic systems inspected and also wonder about... I get homeowners asking me for earnest money, do you ever pay this and if not how can I get around it? Thank you!
Edward
Say you have a contract with an agent representing you as the buyer with a 0 due diligence period. Is there any way to renegotiate?
Great content Jerry
Merry xmas eve Jerry and all of the other subscribers! Hope everyone gets a deal soon :)
Merry Christmas to you too and your Family. 🙏🏻🙏🏻🙏🏻
Jerry, great tips. However, on the 200K property, you say ",it will cost 50K to fix up" they say "okay, then lets do 200k-50k". Then you say, there will also be realtor commissions of 6% or 9K, and they say okay, lets minus that, so now its 200K-50K-9 K, which is 141K. So if they subtract the costs, then what do you say to ensure that there is 40K profit for you at the end. (Im saying 40K profit, cause that is your requirement for the 10K club)
Closing costs 9% of ARV
Carrying costs 6% of ARV
Profit 15% of ARV or min $40k
@@FlippingMastery Yes, I understood how to plug the numbers in the calculation. What Im asking is that if the seller asks you to list all the costs that would decrease the price from the ARV, then what do you say to ensure your profit. For example, the ARV is 200K, the repairs are 50K, the seller may say "Ok so we are down to 150K". Then how do I get him to decrease by the amount of the closing costs and the profit of 40K? He is probably going to say "But you said you would take care of the closing costs, so why do I have to pay those? Besides why should I reduce the price so you can get a 40K profit" How do I counter that argument and get him to reduce the price?
@@shashgo I think at this moment, you need to move on.
@@mauricegeorge4320 what do you mean by that
Your so amazing
Hey Jerry where can I find deal Genie?
Its on your online account once you are a member of my finder program. My support team would be happy to help with that! Please reach out to them at: support@flippingmastery.com or (888) 958-3028
If not yet, go here to learn more: My10kcheck.com
What if they say, “what if I post it with an agent on the mls to sell as is, what’s the disadvantage of doing that?”
Sergio Aguinaga Pay closing costs, realtor fees, move out furniture, takes 2 months + to close, has to deal w open houses, may have to fix other repairs in order for it to appraise w mortgage, and the list goes on! Find out their motivation and work it.
King Cap good idea on the realtor fees. But, someone on the mls can offer cash and close fast as well, since if the property is distressed it’ll be from another investor. Distressed properties won’t qualify for bank loans, so that too I can say.
Great question bro!!
@@sergioaguinaga9619 you want that house before it hits the MLS. You dont mention they could get a cash buyer via the MLS but guide the conversation back to losing it in time waiting for it to sell, show, repair.
Simply amazing
Aka how to negotiate with a typical seller in Austin, TX.
Audacious.
What happened to Whiteboard Wednesdays!!!?!!
#JERRY💰💰💀
But........it’s Monday 😂
The word you were looking for is nonchalant
That seller was HOT lol just like his property!!
Next time use a black marker so we can see what the hell you’re writing
You lost me after your third point that you are making on your list under retail.
Here's how I heard it.
1. Hire real estate agent (actually a positive, because a good real estate agent can get you more)
2. Showing a house ( included for free with any half decent real estate agent- they're motivated to sell that house and get that Commission)
3. Fix up: lie to the person and over exaggerate the cost of repair. Considering you can basically build a house out of a toothpick using TH-cam instructional videos there has been a massive increase in do-it-yourselfers over the past 5 years....
Just be honest with the customer and tell him that there's got to be some meat on the bone for you otherwise it's not worth your time.
That is honesty, these are estimates and it is very clear that the property needs some work - he states he is an investor(in it for profit)