Be smart, don't give sellers power. Post 197


Coach Mitch’s REFLECTIONS™

 

This is the essence of a coaching training that I had with a student after he had made a presentation. The Examples are real; the “You” in the Examples are what the student actually said.

Saying too much is bad.

Giving too much info does harm and gains little or nothing. Saying things in general terms gives no specific information but gains the confidence of the person listening.

EX1: You – “We just got a list of cash buyers.”
VS.
General Statement: “We did the research and found 211 investors who made recent purchases. Some of these investors made purchases in this area. We will contact them on your behalf.”

EX2: You – “We can do a 203K rehab financing.”
VS.
General Statement: “The home is nice but I’m sure you realize it could use some work, right? We can look for those who want a fixer situation. They are not afraid of a project.”

The Reality

These folks will sign if you give off an aura that you are competent, honest, caring, and especially, if they feel that you will do what you say you will do. These are general impressions, not specific impressions. If you show empathy, etc. it accrues to your benefit.

Giving marketing advice/info only gives the seller the idea that they just got an idea that they can do themselves.
You’ve given the seller power unnecessarily.

These are the foibles that are difficult to overcome because they stay in someone’s mind as a legitimate possibility. These foibles give strength to other objections. The seller might “give in” but for the idea that he can find someone who can do a 203K loan – now that he knows it exists.

Don’t match wits, but if forced, crush the seller.

Listing ideas on how to move the property is only necessary with those few persons who are gated that way. They will make it clear that they “know” marketing and will want to challenge you.They have almost certainly had the property listed for a significant period of time, with no success, and they do not want to risk losing more time, especially as the tax delinquent clock is running.

In this specific case you are much better off asking for their input rather than exposing your ideas.

Be prepared for the eventuality of meeting a seller “know-it-all.” Ask them smart questions and listen politely until they stop speaking. Use Feel, Felt, Found with all answers.

Q1: “What do you think the previous broker did wrong?”

Q2: “If you were the broker, how would you market the property?”

Q3: “What do you think are some of the better ideas currently being used to market properties in this area?”

Q4: “Why has this property not sold?”

Q5: “What can you do to improve the chances of this property selling quickly?”

The last three questions are meant to really test the arrogant seller. The seller won’t be able to answer properly or adequately and they will know it. You will know it also, and they will know that you know; that was the point of the questioning.

Of course you use some version of, Feel, Felt, Found in all statements.

EX: “That is good info. I’ve seen some of these ideas in action and I’ve used them myself. My versions are a bit more pointed and many have found them effective.”

Wasn’t it Sun Tzu who said, “You can defang an aggressor by exposing their underbelly. In this manner their weakness has been shown and you will have put them in retreat.” No, it is Coach Mitch who says it.

This is the kind of training that Coaching Clients get when enrolled in Coach Mitch’s Tax Delinquent Property “Ridiculously Simple System…”™

See you at the top,

Mitchell Goldstein - Coach Mitch
518-439-6100 until midnight EST
www.CoachMitch.com

Buy Detroit now - at tax deed auction prices. Post 196


model D

Wayne County Tax Foreclosure Auction kicks off this week

Tuesday, September 11, 2012

The Wayne County Tax Foreclosure Auction has traditionally been held in real-time until 2010 when the vast number of properties up for sale forced its move to online sales. The 2010 auction set records with thousands of tax foreclosed properties for sale. Then last year’s auctions [2011] beat those records with more than 10,000 properties . . .

Read More: Buy Detroit now – at tax deed auction prices. Post 196

Tax liens make 15% ROI and Tax deeds make 200% ROI. Post 195


StarTribune    Wyoming’s News Source

August 24, 2012

Natrona County tax sale disperses liens on nearly 700 properties

Hopeful investors watch a computer screen at the start of the Natrona County tax sale Thursday.

Each delinquent property was awarded to a randomly-selected buyer, who then had the opportunity to purchase the associated lien from the county treasurer’s office in exchange for taxes owed. Property owners have up to . . .

Read More: Tax liens make 15% ROI and Tax deeds make 200% ROI. Post 195

To be successful in real estate investing the seller must believe in you


Coach Mitch’s REFLECTIONS™

 

I was speaking with a student and some of the conversation might be of service to you. After hearing some of the student’s story, I tried to show how the bad memories can now be used for a good purpose.

CoachMitch: You’re absolutely an inspiration. Not many people have the ability to be as clear in their verbiage as you. You’ve got . . .

Read More: To be successfull in real estate investing, the seller must believe in you. Post 194

Real estate investing creates opportunities. Post 193


NPR

June 7, 2012

Generation Rent: Slamming Door Of Homeownership

Neal Coleman and his wife, Rachel, are both in their 2012mid-20s and attend graduate school at Indiana University in Bloomington, Ind. They say renting makes more sense for them and their young daughter until their family is a bit more settled. Taylor says she and her husband, Zach, 25, have lived in . . .

Read More: Real estate investing creates opportunities for great profits. Post 193

There are real estate bargains everywhere. Post 192


AMERICAN PUBLIC MEDIA Marketplace

6/25/12

Condo buyers square off against foreign investors

The condo market is on the rise in hot cities like Miami. But that means competition from international buyers who bring cash.

Kai Ryssdal: I remember being in Miami about three, four years ago and seeing high-rise after high-rise after high-rise of apartment buildings — condos that had been abandonded mid-construction. Just sitting there half-done after one of most most . . .

Read More: There are real estate bargains everywhere. Post 192

10 Cities with the highest rental profit potential. Post 191


THE BOTTOM LINE on NBCNEWS.com

Cities where homes cost less than a car

July 23, 2012

Wheels or digs? For the price of a Chrysler 300, a person could buy a house in Flint, Mich.

For many Americans, homeownership is the epitome of living the American dream. Yet, in towns with high tumbling home prices and double-digit vacancy rates, median-priced homes now cost the equivalent of new American cars — . . .

Read More: 10 Cities with the highest rental profit potential. Post 191

Government should tax fairly and conduct themselves honorably. Post 190


Brian Ellis Investing Letter       

NCLC Targets Individual Investors and School-Aged Children

July 11, 2012

Allow me to point out the latest way that your rights as an investor are being targeted by government generally and by liberal interests specifically.

The “National Consumer Law Center” (NCLC) – a group that trots out “research reports” claiming to be objective, but are …one-sided…policy papers funded by none other than ultra-liberal . . .

Read More: Government should tax fairly and conduct themselves honorably. Post 190

Tax delinquent golf course lots are great prospects. Post 189


The DADE County Sentinel

Trenton, Georgia            1/11/2012

County Collects $210K At Auction

“We are not trying to sell land here,” said Ric Baxter. “What we are trying to do is collect taxes.” It was Tuesday, Jan. 3., and Baxter, an auctioneer from Appalachian Mountain Services, was explaining the rules to the 30-odd prospective buyers who had gathered in front of Dade’s new courts facility for the county’s tax auction of lots at the Preserve, . . .

Read More: Tax delinquent golf course lots are great prospects. Post 189

In every market, at all times, there are folks in trouble with equity to give-a-way. Post 188


moneynews         Friday, 29 Jun 2012

Yale’s Shiller to Moneynews: Home Prices Could Plunge Even Lower

Home prices have risen lately but nothing suggests that a concrete recovery for the sector is taking place, and prices could fall even lower, Yale economist and author Robert Shiller said.

“I think it’s a good chance that home prices may fall still further,” Shiller told Newsmax.TV in an exclusive interview.

He also . . .

Read More: In every market, at all times, there are folks in trouble with equity to give-a-way. Post 188