firs flip

People ask me all the time , “what do I say when I get in front of the prospective seller?”

So here’s an example:  You’ve located a deceased owner with a back tax problem.

You had to hire a skip trace detective to actually locate the administrator of the will or the new heir to the property…

  • You find the decision maker.
  • Go to their residence.
  • Knock on their door and say…

“Hello! My name is Mitch!
I learned that the owner of the house located on 123 Main Street
lives here. May I speak to Mr./Mrs. _______________ ?”

When the owner shows up at the door say…

“Hi!  (Don’t forget to smile)
Are you the one and only Mr./Mrs. ______________ ?

My name is Mitch Stephen and I noticed the house at 123 Main Street is about to be auctioned off for back taxes in a very short time from now. Honestly, I wasn’t sure I was going to find you in time. I was wondering if you’d let me help you solve this problem before the house is auctioned off and maybe even put a small amount of money in your own pocket?  I can assure you time is running short. Would you be interested in talking to me about the property at 123 Main Street right now?

I would have a contract in my car.
I would have it completely filled out except for the price

I start by offering to pay the back taxes and a few thousand dollars for ownership of the property. Emotionally, the owner has already checked out of the property. I’m hoping they take whatever I offer because it is simply “Found Money” from Heaven for them. I’d explain that if the taxes aren’t paid immediately the property will be auctioned off and gone forever…and they will get $0. Say…

“I don’t have a lot of money but I can borrow a small amount of money from a family member.”

If the price starts to rise, keep your cash offer the same and offer to pay anything over your cash offer in payments. (Interest free payments).

Whatever the amount is over the cash offer, divide by the number of payments you wish to make: these are “Interest free” payments.

Since this owner did not get your letter, he did not get anyone elses letter either. You have no competition.

The owner can’t just grab another postcard from another investor and one up the offer. I find it tempting to call in these people just before the auction date SO they have to make a decision IMMEDIATELY or miss this opportunity to put a few bucks in their pocket.

Make sure you leave yourself enough time to do your own due diligence though.

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