Help With The Phone
Well I did it I bought my first house, and got it on a sub-to, now I have my add in the paper to sell it on a lease option, and I will be getting some calls on it tonight and was hoping that someone could help me with a phone script, so i ask all the right questions. any ideas would be great. Thanks for your time!
#1. Will you be living in the property or renting it out?
#2. How many people will be living in the home?
#3. Do you live in the area now? Y / N Where?
#4. How much are you paying in rent now? $
#5. What amount of a Monthly Mortgage Payment Are You Looking For? $
#6. How much of a down payment can you put down? $
.....................Closing Costs ? $
#7. I'll be showing the home BY APPOINTMENT...
(saturday morning)
How does (time) sound?
Will this be O.K. for you?
.........Please Be Prompt As We Are Showing By Appointment and If You Would Like To
Give Us A Courtesy Call to Confirm You Will Be Showing Up...Feel Free To Do So !
Add if you like...
Be sure and bring a check in case you like what you see and want to hold the house.
Wow,
That's impressive for your first deal.
So need help with your phone script? Well, honestly write down what you want out of the property and then write down the least you will take. Figure out a middle ground for rent and leave some wiggle room but try not to stray to far from that.
When they call, they will ask you questions, but it is important for you to be in control. You are "interviewing" people which means you are the one finding out if they are good enough or not. Immediately prescreen to buy stating "obviously you have been looking around for homes so you have to have some idea of what you want to put down...what are thinking bout putting down" That way they are the first one to talk, then immediately go into what is the most they would be able to afford each month without hurting themselves. They will give you a number, if it's more than you thought...then you are good to go, if it's less, than say..."well, that may not work for us, but if you can prove that you can pay that on time every month, then we may be able to work something out."
Always ask the person if they can prove that they will be able to afford each payment per month.
Make sure they know the option money goes to the final price of the home and that is non-refundable. There really is a lot of to talk about, but really it is only stuff you alread know. You just have to figure out what you want out of the deal and what the market can afford.
Good luck!
Christian "The Solutions Kid" Beebe
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Well crud,
I like Dave's answer better...so use more of his
Christian "The Solutions Kid" Beebe
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Possibly too much work in Solutions post, in our opinion, when you pull their credit (which will be in the tank anyway) we use our mortgage broker to assist in a open discussion regarding qualification for the mortgage. If they are weak, let's begin a repair process, otherwise, they may fall short in the end. We do not want this to occur so we ask the tenant buyer to be honest and realistic (after they love the home). Use industry professionals determine if they can qualify. DaveREI has great introductory questions, then relax and show the property. Remember they must be GOOD paying renters along the way otherwise the option is void and those funds are non-refundable. This is why we try to be above $3K down as option consideration. Depending on the deal, the monthly credits are not so important to us.
Eric & Rosa
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I'm just curious, if you got this from a sub to, how long did you tell the owners the loan would stay in their name? Because if your main goal is to sell this bad boy, sell on a land installment contract/contract for deed. you can get a bigger down, and kick them out if they defalut and get another down from another buyer.
THANK ..YOU...THANK YOU..THANK YOU
Every one of you have such quality answers. Everyone here on this site has helped me alot and made me think and grow, This is my first property and alot of it is because of all of you. Any new guys out here....yes ..this stuff really works and yes you are on the best web site to get you in the right direction, any doubts just re-read this post.....THANKS AGAIN TO ALL