Never let a contractor, not even if the contractor is your mother, meet with the seller without you having a fully signed contract, or else the contractor will negotiate their own deal with the seller.
Jerry, your bold, patient, and calm😂there’s no way I would’ve let him talk over me or call him back and persuade him to sell me that house with his attitude. You’ve just made me realize I need to work on that. You’re a flipping genius 😎
Hands-down my favorite wholesaling content creator out there. Seeing these real deals give me, an inexperienced student, SO much insight and clarity on the timeline and expectations of a deal.
@@lanceburns3404 there are other live wholesale live content creators on yt although they don t nearly match up to Jerrys ability to communicate with these prospects.
Mr. Flipster im kinda lost in a few places .im trying to become an whole sale investor i most deff. Love yur content. Def. My go to. And sorry if its to late. My question is i looked up an house i found in my nieghborhood and it says its off market which means i can never buy this house , should i move on? And its trulia estimate is 29,632 is that how much the house value is and i should be getting a seller to atleast sell for 20,000 to make 9,632? Is that how it works? I would truly appreciate you taking the time to atleast view this and also helping me out. Then if i can get it for 20,000 do i then try to sell it for that 29,000 . is this how it wrks? Once again thanks again
I’m with you, Jerry. I would have dumped this guy when he started getting so difficult, then followed up in 30 or 60 days and see if he’s still feeling so cocky. :) Still, I totally understand why you stuck with it for the videos, and I appreciate you sharing it. 👍🏻
I love this Jerry! This is the content I like to see, real life scenarios that we as wholesalers have to deal with and you do a great job of showing how it is handled by a professional. Please keep doing videos like this
This is a great video Jerry, you’ve shown how to deal with a no by not hanging up right away. I definitely like to learn from your struggles and how you bounce back, more videos like this would be greatly appreciated
I appreciate your channel so much Jerry!! I've got 3 leads I'm looking to get under contract immediately and your videos are really a godsend for a newbie. Bless you and your family man 🙌🏽 thank you
This video opened my eyes to the fact that I need to work on my negotiation and communication skills. I've been a negotiator since I was a child, but when the other party gets defensive and elusive like this seller, I have always just walked away. I was and still am entirely surprised that he eventually agreed to the terms, I was 100% certain there was no deal here. I've been leaving tons of money on the table......
I’ve encountered situations like this before with a seller concerned we may take their “40 year old pet urinated carpet, or molded drywall off the wood stud, etc” out of their wonderful distressed vacant house when asking for a key to place in a lockbox. At the time, the option to close and then resell was not feasible for us so what I would say is that it’s “corporate policy” for us to have access during our inspection phase, so we may have contractors, realtor(s), and partners walkthrough and analyze the property. Rather than continue contacting you for access and to avoid conflict with scheduling on days when these professionals are available. Placing a lockbox on it makes it more simple and easier. No different from what a real estate agent would request. Great content as always man!
As a seller, I would never agree to this without some sort of liability protection in place. To many people who can manage to get hurt and sue. No realtor would allow someone inside a listing like that.
Wow this was something else JERRY you were calm and been forward with your point i love seen the real world scenarios of the business. Thankyou very much for all that you do this gives motivation for people that are just scared and terrified to speak to sellers. God bless
I appreciate you working on this deal Jerry. Thanks for keeping it real and showing us how it can go and how to use your time wisely. Would love to meet you one day.
Jerry first of all may I say that you are a FLIPPPING GENIUS!!!, and your content is fire... Heads up Jerry, me to you, your hats are blizzard coooolll! Awesome marketing tools and sharp too. But Bro, you kill it without the lid too!! Your genuine love for people shines through and the distinguished professor of properties is revealed. 2021 is going to rock!
@@FlippingMastery In your Flipster, is it possible to see who purchased a property or how long a property was on the market previously or now? I've heard you talk about finding buyers using this technique and also when using your "Double-Dip" strategy. Currently, using REIPRO prolly switching to Flipster this next month.
Aww man this is great man you're a flipping genius I may have just landed my first deal listening to you has accelerated my progress. Now I just need a cash buyer. Thank you so much.
Good morning from Florida Jerry, I just want to tell you thank you for these videos they are very informative and very motivating. I've been watching you for about a month and getting a feel for your authenticity as much as you can get through a video and I've decided to try that flipster out.
Jerry - new viewer & subscriber. I've been in sales for 40 years and you did beautifully... the only teaching point I would add, if I may, is at 6:35 when the seller said, "So, how much ya thinkin'?" By doing so, he indicated that he would take less than $60K. Loved that.
Thank you Jerry very very good information and Yes there are good and bad sides in real-estate. But Jerry you are a flipping genius and keeping it real is why people like watching your content keep up the good work. Keep it coming 👍🤙
I really like your videos. I'm still trying to learn as much as I can in wholesaling properties, but by far you are the best resource I have about learning the business. Thanks much brother.
Great video I like the posture you maintained throughout the entire phone call you could tell he wasn’t use to ppl standing up to him when conducting business
Thanks so much for doing these videos! I think you should Continue to invest the time into this deal. Although honestly, I probably would have given up after the last conversation we are he said to call him in a few days. But seeing how you’re handling it is teaching me How to go about difficult conversations with sellers such as this one.
Hey Jerry, when dealing with tough seller's like the one in your video, I market the house with 2 established showing dates. Then have all my buyers view the property within a 2 hour window on both days. I also tell the seller that my general contractor, has subcontractors stopping by to submit bids on the work and to please give him some privacy during these periods of time. Then I'll have one of my associates act as general contractor on the show dates while the buyers are viewing the property. It works like a charm, every time.
Wow!!! It's amazing how Jerry had a reply to every objection the seller had. Great video! Jerry, could you possibly share more videos of wholesaling a property from beginning to end?
Yes! Getting to watch and Listen to the Mega-Pro Jerry in action! Now this...is what I have been waiting for! Awesome video. This really helps me understand. Super grateful Jerry!! You did awesome by the way!
Jerry what patience and perseverance. After watching and analyzing i believe not knowing all the facts i would pass on this deal. 2 reasons: 1. Seller still sounds not convinced and really not open to terms fully. 2. I wouldn't want anyone meeting this guy.
"contracts" "contingencies" ... What about an agreement instead of contracts as well as a quick inspection to ensure we both get what we need. And the inspection should only take 10-14 days, really not a big deal.... Words are essential :)
he mentioned in the video that the seller is also an investor so at that point he can be more raw and straightforward because the other guy knows the deal and won't shy away.
@@FlippingMastery at that point you had to explained, would be a good opportunity to negotiate a lower extreme price like 35k without a contingency contract? then give him the option of 55k with contingency because it sound like he was in a hurry to walk with the deal and not wanting to go thru the trouble to make extra profit by your purchasing deal terms! if you're willing to wait 10days you make 55k if cannot wait ill give 35k right now! bluff bluff! however you did handle the negotiation very well!
Your videos are gold! Thanks for sharing your knowledge & in detail. Is this an out of state property? If so, what’s your process on getting contractors to walk the property? I find this can be tough when you’re not from the area.
That was great! I like seeing the convos without all the fluff at times. Me personally I would continue with the deal because the spread is good for me at the level I’m at with making at least 10k on a wholesale. Thanks for the video can’t wait till the next one.
Great video man. Talk about hard to deal with seller my gosh. The whole time he was arguing I was thinking, who the heck said after 2 weeks you was gonna say sorry, I'm not buying your house. Like he was so dang negative that the entire time he flat out refused to believe you was really gonna close on it for 55k. As if you didn't have the money or was just out to get him and waste his time. Insanity!
Great negotiation skills, bold and ruthless without attachments. Keep giving us the live practical walkthroughs on negotiations and acquiring assets. Thanks
I know this video is old but this is highly informative. I’m 23 years old and just now beginning to understand how valuable Wholesaling is as long as it’s done the right way. Very informative video man. New sub.
Hey Jerry I just want to say thank you for posting the videos on this deal I’m learning a lot as a flipster student of yours. I see you have put a lot of time and effort in this deal I think you should keep moving forward on this deal
Awesome video Jerry you overcame objections like a boss. I would say if you can make it a win-win and unload his burden it could open the door for future deals on his other rental propertys however if you're beyond 7 conversations and there's still major resistance it might be time to pull the plug.
Hi Jerry, new subscriber here. Your content is great!! Question, when you are virtual wholesaling do you always require unrestricted access or was this a special case due to the fire damage?
you sir are a trooper, when he started screaming he doesn't want to waste my time or your time. I would've told him to have a nice day and best of luck.
THIS THAT RAW UNCUT, THERE ARE SO MANY SELLERS LIKE THIS, ITS NOT EVEN FUNNY, KEEP THE VIDS GOING JERRY, THIS THAT HANDS ON EXPERIENCE TYPE LEARNING......💯
Jerry! You are a master of your craft. You should have your own tv show on cable on wholesaling! Ever thought about investing time into something that would better network you like that?
Two important take a aways from this video First- "you have to deal with ten of me" you pointed out his problem-fire damage house only investors who would do due diligence would be interested in the house. Second- The refundable EMD-- i think that concession helped with winning him over.
Lolololol. This is gold. What everyone needs to know is everyone is like the seller of the gangja house. Lolol. This was awesome. I was like the old weeder closed minded. Explaining the transaction over and over and over again is key. Great job
This was FAR better than text book example. I think anyone can learn to flip houses when the seller is amenable to all the request. It's much better to have seen a negotiation go sideways and how best to handle it and bring the seller back in after it seems the deal is dead. Thanks for the real world lesson in what can and will happen even on deals that seem to be cut and dry from the beginning!
9:47 This happened to me recently and it would've been my first deal. Heavily damaged property but the owner didn't want me bringing contractors through it, he wanted me to deposit the full amount in escrow with no contingencies and just take his word on the repair cost. And the property was already about 20 -30 K overpriced. I was going to wholesale it to a landlord for 2k because it wouldn't work for a flip. ARv 230K Repairs 50K asking 165K actually looking back on this l, the repair cost probably exceeded $80K Edit: 12:51 exact situation, the guy I was working with is an investor too and he listed the property with an agent. And guess what it's still on the market.
Great negotiation. I would have changed 2 things, once you reluctantly conceded to price to price I would have sent the contract over with the normal contingencies. I believe you made too much of a deal for the extra help you needed. You agreed, assume the rest.
Awesome content, You are a Flipping Genius!! I'd do my 7 days DD and if it looked good id close. The deal looks solid, even for flipping paper. The real money is in a 90 day rehab/list deal, take down a larger spread! But 18k on a Wholesale is a good number.. Keep the gold coming our way Jerry!!
Jerry i really enjoyed this video and how you kept things real. Who do you get to put the lock box on, i am starting to do virtual whole selling now. Is it best to ask the seller for unrestricted access?
Interesting information on the subject. I'm not in the business so it's possible I'm not catching the entire deal. It seems to me, your contract contingencies are setup with the specific intention of finding a cash buyer and wholesale the property. However you're telling the seller it's to have contractors inspect and bid. I understand that business doesn't always require 100% honesty. However I personally find it very difficult to deal with someone who isn't. So if the odds of make it to closing hinges on you finding that buyer within that week and you have little interest of actually going through the purchase and rehab then I could understand the seller worried about waisting time and getting hassle of dealing with you. But your video has taught me. If a buyer ever asks for unrestricted access for contractors then I'd add a 3rd contingent that no one other than contractors are allowed on the property and the potential buyer can't show the property or solicit before closing. Probably a good way to keep tire kickers away.
jerry, THESE are the types of videos that will get you Plenty of Flipster members. 2 friends of mine watched this conversation 3 times. Do more like this. Will benefit you Specifically, with sellers that have a LOT of objections
We are looking at a 5 bed house. The lower level is 3 bed pretty much move in ready (tho it does need some updating and a lick of paint.) the upper level (external stairs) is 2 1bed apartments, that need quite a bit of work to make them livable. Basically a heavy remodel. We are undecided at present if we want to keep the apartments and Rent them or turn it back into a single home. The current asking price is $49k. The house in perfect condition is worth $120k+. How would you (if at all) negotiate that and what price would you be aiming for?
If your plan is buy and hold then the apartment will increase your cash flow on this deal. If you plan to flip then most likely return to single family. The only way to know for sure is look at duplex comps and single family comps in the area
Great stuff Jerry! Quick question, once the seller agrees to putting a lockbox on the property... how do you handle getting the lockbox on the property? Lets say the seller is not real estate savy/investor and has no idea where to find a lockbox or doesnt want to pay for one and since you are doing this virtually, you wouldnt be able to just drive over and put it on the property. How would you go about handling this? Thanks!
I am so grateful for your videos. I am learning so much. I have to agree.... several times I have spent countless hours trying to make that "square peg fit in that round hole". It's nice to see first hand when to push and when to perhaps move on. Thank you so much for these live call videos! They are little gems! On a side note - I say pass on the deal and move on! Plenty more motivated sellers out there!
Yes sir, I would not spend any more time and wholesale it. Your fee is pretty good in that you would still earn a good return because you got into the deal equitably. WHOLESALE!
![Watch Me Negotiate Like A Savage and Win This Deal [LIVE Deal Breakdown]](http://i.ytimg.com/vi/rYL4Q5gLbqI/mqdefault.jpg)
Never let a contractor, not even if the contractor is your mother, meet with the seller without you having a fully signed contract, or else the contractor will negotiate their own deal with the seller.
Great tip!
That’s right!
Yep had an investor/contractor steal a deal like that from me last summer
Staying calm and coaching them thru the details is such an important skill, you’ve obviously mastered both.
Jerry, your bold, patient, and calm😂there’s no way I would’ve let him talk over me or call him back and persuade him to sell me that house with his attitude. You’ve just made me realize I need to work on that. You’re a flipping genius 😎
Hands-down my favorite wholesaling content creator out there. Seeing these real deals give me, an inexperienced student, SO much insight and clarity on the timeline and expectations of a deal.
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Thats facts. No other wholesale youtube channel comes close to this one
Lance Burns 🙏🙏🙏🙏
@@lanceburns3404 there are other live wholesale live content creators on yt although they don t nearly match up to Jerrys ability to communicate with these prospects.
Mr. Flipster im kinda lost in a few places .im trying to become an whole sale investor i most deff. Love yur content. Def. My go to. And sorry if its to late. My question is i looked up an house i found in my nieghborhood and it says its off market which means i can never buy this house , should i move on? And its trulia estimate is 29,632 is that how much the house value is and i should be getting a seller to atleast sell for 20,000 to make 9,632? Is that how it works? I would truly appreciate you taking the time to atleast view this and also helping me out. Then if i can get it for 20,000 do i then try to sell it for that 29,000 . is this how it wrks? Once again thanks again
This is exactly how every deal I’ve had goes down. Even right down to the tone. You handled it like a pro and I respect it.
I’m with you, Jerry. I would have dumped this guy when he started getting so difficult, then followed up in 30 or 60 days and see if he’s still feeling so cocky. :) Still, I totally understand why you stuck with it for the videos, and I appreciate you sharing it. 👍🏻
I love this Jerry! This is the content I like to see, real life scenarios that we as wholesalers have to deal with and you do a great job of showing how it is handled by a professional. Please keep doing videos like this
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This is a great video Jerry, you’ve shown how to deal with a no by not hanging up right away. I definitely like to learn from your struggles and how you bounce back, more videos like this would be greatly appreciated
I appreciate your channel so much Jerry!! I've got 3 leads I'm looking to get under contract immediately and your videos are really a godsend for a newbie. Bless you and your family man 🙌🏽 thank you
How's it going with flipping those contacts?
@@ryaneboy101 bro that comment is from 2 years ago 😂
This video opened my eyes to the fact that I need to work on my negotiation and communication skills. I've been a negotiator since I was a child, but when the other party gets defensive and elusive like this seller, I have always just walked away. I was and still am entirely surprised that he eventually agreed to the terms, I was 100% certain there was no deal here. I've been leaving tons of money on the table......
I’ve encountered situations like this before with a seller concerned we may take their “40 year old pet urinated carpet, or molded drywall off the wood stud, etc” out of their wonderful distressed vacant house when asking for a key to place in a lockbox. At the time, the option to close and then resell was not feasible for us so what I would say is that it’s “corporate policy” for us to have access during our inspection phase, so we may have contractors, realtor(s), and partners walkthrough and analyze the property. Rather than continue contacting you for access and to avoid conflict with scheduling on days when these professionals are available. Placing a lockbox on it makes it more simple and easier. No different from what a real estate agent would request.
Great content as always man!
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Would you allow a stranger unfettered access to a property of yours?
@@rivahkillah I bet the seller's attorney would advise against it.
As a seller, I would never agree to this without some sort of liability protection in place. To many people who can manage to get hurt and sue. No realtor would allow someone inside a listing like that.
Wow this was something else JERRY you were calm and been forward with your point i love seen the real world scenarios of the business. Thankyou very much for all that you do this gives motivation for people that are just scared and terrified to speak to sellers. God bless
Jerry your content is just awesome! Thank God for people like you.
I watch this vid over and over, so helpful! The “what is in that house?…..’Nothing nothing is in that house’” gets me every time 😂
I appreciate you working on this deal Jerry. Thanks for keeping it real and showing us how it can go and how to use your time wisely. Would love to meet you one day.
Jerry first of all may I say that you are a FLIPPPING GENIUS!!!, and your content is fire...
Heads up Jerry, me to you, your hats are blizzard coooolll! Awesome marketing tools and sharp too.
But Bro, you kill it without the lid too!! Your genuine love for people shines through and the distinguished professor of properties is revealed.
2021 is going to rock!
I rarely subscribe to any UA-camr but for you it’s an exception. Every video is like watching a drama movie. Good work!.
I honestly this this is the best Real estate content on UA-cam I learn something new every video keep it up we appreciate it!
The REALEST REALNESS is mind-blowing! Thanx, for the hard work in preparing and sharing these critical insights.
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@@FlippingMastery In your Flipster, is it possible to see who purchased a property or how long a property was on the market previously or now?
I've heard you talk about finding buyers using this technique and also when using your "Double-Dip" strategy. Currently, using REIPRO prolly switching to Flipster this next month.
Aww man this is great man you're a flipping genius I may have just landed my first deal listening to you has accelerated my progress. Now I just need a cash buyer. Thank you so much.
Good morning from Florida Jerry, I just want to tell you thank you for these videos they are very informative and very motivating. I've been watching you for about a month and getting a feel for your authenticity as much as you can get through a video and I've decided to try that flipster out.
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Your channel by far is the most informative and straightforward when it comes to REI. Thank you sir.
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These are the best videos. Thank you for posting these and being so thorough
Jerry - new viewer & subscriber. I've been in sales for 40 years and you did beautifully... the only teaching point I would add, if I may, is at 6:35 when the seller said, "So, how much ya thinkin'?" By doing so, he indicated that he would take less than $60K. Loved that.
great tip!
Thank you Jerry very very good information and Yes there are good and bad sides in real-estate. But Jerry you are a flipping genius and keeping it real is why people like watching your content keep up the good work. Keep it coming 👍🤙
This was the first quality content channel about real estate I’ve seen in a long time without the bs. You’ve earned my subscribe 👍
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Your work is amazing!!!! As a new and up coming real estate wholesaler thank you so much for your inspiration. I hope to meet you one day
I really like your videos. I'm still trying to learn as much as I can in wholesaling properties, but by far you are the best resource I have about learning the business. Thanks much brother.
so what happened? any update on this deal yet? great video.
Great video I like the posture you maintained throughout the entire phone call you could tell he wasn’t use to ppl standing up to him when conducting business
Yea the thing is, he didn’t take it personally. I could get back in his face and he took it.
Wow this was inspiring! I’m addicted now! Just subscribed!
Jerry man that was awesome! I'm really learning a lot from you.
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Thanks so much for doing these videos!
I think you should Continue to invest the time into this deal. Although honestly, I probably would have given up after the last conversation we are he said to call him in a few days. But seeing how you’re handling it is teaching me How to go about difficult conversations with sellers such as this one.
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I love this video! So detailed and thorough. It helps for newbies to understand. Keep up the great work and videos!
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"Me times ten" He may not have liked him, and the thought of 10 more was clearly frightening.
Hey Jerry, when dealing with tough seller's like the one in your video, I market the house with 2 established showing dates. Then have all my buyers view the property within a 2 hour window on both days. I also tell the seller that my general contractor, has subcontractors stopping by to submit bids on the work and to please give him some privacy during these periods of time. Then I'll have one of my associates act as general contractor on the show dates while the buyers are viewing the property. It works like a charm, every time.
Thanks for the info bud
My hero. So many people learn through watching. Thanks for the info
Hands down, THE BEST wholesale channel on UA-cam. Love your content Jerry👏
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This video is the best. His reaction is priceless when the seller says okay.....
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Wow!!! It's amazing how Jerry had a reply to every objection the seller had. Great video! Jerry, could you possibly share more videos of wholesaling a property from beginning to end?
For sure!
Yes! Getting to watch and Listen to the Mega-Pro Jerry in action! Now this...is what I have been waiting for! Awesome video. This really helps me understand. Super grateful Jerry!! You did awesome by the way!
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Way to stay strong and assertive...good job...I would have walked away...so excellent job staying in there.
Jeeerrryyyy that was so awesome , love the consistency and the never quit mindset, way to follow up, this video was great
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Marvelous Video! 💪👌 I love your uploads! 😄
Jerry’s negotiation skills are incredible! Definitly a major area I want to learn more on!
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Jerry what patience and perseverance. After watching and analyzing i believe not knowing all the facts i would pass on this deal. 2 reasons: 1. Seller still sounds not convinced and really not open to terms fully. 2. I wouldn't want anyone meeting this guy.
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Love you bro for the premium content! ♥️♥️
"contracts" "contingencies" ... What about an agreement instead of contracts as well as a quick inspection to ensure we both get what we need. And the inspection should only take 10-14 days, really not a big deal.... Words are essential :)
Great suggestion
he mentioned in the video that the seller is also an investor so at that point he can be more raw and straightforward because the other guy knows the deal and won't shy away.
@@FlippingMastery at that point you had to explained, would be a good opportunity to negotiate a lower extreme price like 35k without a contingency contract? then give him the option of 55k with contingency because it sound like he was in a hurry to walk with the deal and not wanting to go thru the trouble to make extra profit by your purchasing deal terms! if you're willing to wait 10days you make 55k if cannot wait ill give 35k right now! bluff bluff! however you did handle the negotiation very well!
How does he not have more subscribers, I love this channel...
Thank you, it was very helpful watching you handle the sellers objections, very informative!
Your videos are gold! Thanks for sharing your knowledge & in detail. Is this an out of state property? If so, what’s your process on getting contractors to walk the property? I find this can be tough when you’re not from the area.
That was great! I like seeing the convos without all the fluff at times. Me personally I would continue with the deal because the spread is good for me at the level I’m at with making at least 10k on a wholesale. Thanks for the video can’t wait till the next one.
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Thanks for going through all that just to give us an example. Great work and please keep more videos like this one coming.
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Great video man. Talk about hard to deal with seller my gosh. The whole time he was arguing I was thinking, who the heck said after 2 weeks you was gonna say sorry, I'm not buying your house. Like he was so dang negative that the entire time he flat out refused to believe you was really gonna close on it for 55k. As if you didn't have the money or was just out to get him and waste his time. Insanity!
Before even watching the video, thank you for sharing this kind of info, it really helps.
Great negotiation skills, bold and ruthless without attachments.
Keep giving us the live practical walkthroughs on negotiations and acquiring assets. Thanks
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Wow, the way you talked to him was awesome to see. That convo would have been long over if it were me. I’m taking notes ✏️📓
🙏👊 I slowly was getting more bold as time went on. 😤
Your reaction at the end when the seller finally says ok ...hilarious!
You are an Artist!! It's such a sight watching your video$!! Absolutely the BEST!! Information and Production wise!! A true Smith!!
REALLY EXCELLENT detailed breakdown video Jerry. Thx. 17 min well spent learning some valuable tips. Nice work!
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Jerry handles these people so well!
I know this video is old but this is highly informative. I’m 23 years old and just now beginning to understand how valuable Wholesaling is as long as it’s done the right way. Very informative video man. New sub.
Buy and rent your houses out. There's a reason why every rich person rents out rather than wholesale
Tidwell that’s the plan, once i get well versed enough in this.
Yo this dude needs a million subs for providing value content like this
The more subs the less deals you'll get.
Hey Jerry I just want to say thank you for posting the videos on this deal I’m learning a lot as a flipster student of yours. I see you have put a lot of time and effort in this deal I think you should keep moving forward on this deal
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You have to have a special level of patience to speak to sellers
Thank you Jerry you are a Flipping Genius
I’m looking to get into real estate investing and your videos break it down and really give me some good insight on it!
I'm an agent and I subbed. Good content that most people play thousands for and waste weekends in seminars.
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That was amazing ! Great job and thanks for using this as a teaching tool
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My first flip was fire damage. And you right not many investors will touch a burn house
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Amazing example of negotiation and how to address these issues. Thank you!
Jerrys wholesaling videos: "well at first I was going to wholesale but then I thaught why not just buy it" 😂
Awesome video Jerry you overcame objections like a boss.
I would say if you can make it a win-win and unload his burden it could open the door for future deals on his other rental propertys however if you're beyond 7 conversations and there's still major resistance it might be time to pull the plug.
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Hi Jerry, new subscriber here. Your content is great!! Question, when you are virtual wholesaling do you always require unrestricted access or was this a special case due to the fire damage?
you sir are a trooper, when he started screaming he doesn't want to waste my time or your time. I would've told him to have a nice day and best of luck.
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Screaming? That wasn't screaming. Jerry, get someone to really scream at you!
Holy Moly! I had the same bug-eyed look you did when he finally just said a simple "Okay." I mean, duuude!
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THIS THAT RAW UNCUT, THERE ARE SO MANY SELLERS LIKE THIS, ITS NOT EVEN FUNNY, KEEP THE VIDS GOING JERRY, THIS THAT HANDS ON EXPERIENCE TYPE LEARNING......💯
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Jerry! You are a master of your craft. You should have your own tv show on cable on wholesaling! Ever thought about investing time into something that would better network you like that?
I’ve had 3 shows consider it.
@@FlippingMastery let me know if you need a guy to carry your bags!
Two important take a aways from this video
First- "you have to deal with ten of me" you pointed out his problem-fire damage house only investors who would do due diligence would be interested in the house.
Second- The refundable EMD-- i think that concession helped with winning him over.
Excellent video Maestro 👏🙏🏻👏
Lolololol. This is gold. What everyone needs to know is everyone is like the seller of the gangja house. Lolol. This was awesome. I was like the old weeder closed minded. Explaining the transaction over and over and over again is key. Great job
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This was FAR better than text book example. I think anyone can learn to flip houses when the seller is amenable to all the request. It's much better to have seen a negotiation go sideways and how best to handle it and bring the seller back in after it seems the deal is dead. Thanks for the real world lesson in what can and will happen even on deals that seem to be cut and dry from the beginning!
You got it! 👍
Just came across your channel! Good S*!^ on the content and the value you're providing! I appreciate you!
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9:47 This happened to me recently and it would've been my first deal. Heavily damaged property but the owner didn't want me bringing contractors through it, he wanted me to deposit the full amount in escrow with no contingencies and just take his word on the repair cost. And the property was already about 20 -30 K overpriced. I was going to wholesale it to a landlord for 2k because it wouldn't work for a flip.
ARv 230K
Repairs 50K
asking 165K
actually looking back on this l, the repair cost probably exceeded $80K
Edit: 12:51 exact situation, the guy I was working with is an investor too and he listed the property with an agent. And guess what it's still on the market.
Mikhail Hunter it’s exactly why Jerry pressing for sellers “bottom” is necessary at times the financial risk and unknowns are real.
Need $20k spread not $2k
@@FlippingMastery you saying you won't even mess with a deal if there's not around $10-20k in wholesale profit to be made?
@@elyl78 Why would you waste all that time for less than $10,000? Thats why I only do lease option and make lots more with none of all that hassle.
@@elyl78 I mean think about it people are flipping these houses making $100k profits, you might as well get yours
Great negotiation. I would have changed 2 things, once you reluctantly conceded to price to price I would have sent the contract over with the normal contingencies. I believe you made too much of a deal for the extra help you needed. You agreed, assume the rest.
Awesome content, You are a Flipping Genius!! I'd do my 7 days DD and if it looked good id close. The deal looks solid, even for flipping paper. The real money is in a 90 day rehab/list deal, take down a larger spread! But 18k on a Wholesale is a good number.. Keep the gold coming our way Jerry!!
Thanks for your time, energy, and passion!!
Jerry i really enjoyed this video and how you kept things real. Who do you get to put the lock box on, i am starting to do virtual whole selling now. Is it best to ask the seller for unrestricted access?
Yes always get access via a lockbox
@@FlippingMastery thank you
Jerry you are a frikin flipping genious!!
Interesting information on the subject. I'm not in the business so it's possible I'm not catching the entire deal.
It seems to me, your contract contingencies are setup with the specific intention of finding a cash buyer and wholesale the property. However you're telling the seller it's to have contractors inspect and bid.
I understand that business doesn't always require 100% honesty. However I personally find it very difficult to deal with someone who isn't.
So if the odds of make it to closing hinges on you finding that buyer within that week and you have little interest of actually going through the purchase and rehab then I could understand the seller worried about waisting time and getting hassle of dealing with you.
But your video has taught me. If a buyer ever asks for unrestricted access for contractors then I'd add a 3rd contingent that no one other than contractors are allowed on the property and the potential buyer can't show the property or solicit before closing. Probably a good way to keep tire kickers away.
Sometimes people need to hear the same thing multiple times to understand it.
jerry, THESE are the types of videos that will get you Plenty of Flipster members. 2 friends of mine watched this conversation 3 times. Do more like this. Will benefit you Specifically, with sellers that have a LOT of objections
We are looking at a 5 bed house.
The lower level is 3 bed pretty much move in ready (tho it does need some updating and a lick of paint.) the upper level (external stairs) is 2 1bed apartments, that need quite a bit of work to make them livable. Basically a heavy remodel.
We are undecided at present if we want to keep the apartments and Rent them or turn it back into a single home.
The current asking price is $49k. The house in perfect condition is worth $120k+. How would you (if at all) negotiate that and what price would you be aiming for?
If your plan is buy and hold then the apartment will increase your cash flow on this deal. If you plan to flip then most likely return to single family. The only way to know for sure is look at duplex comps and single family comps in the area
Great stuff Jerry! Quick question, once the seller agrees to putting a lockbox on the property... how do you handle getting the lockbox on the property? Lets say the seller is not real estate savy/investor and has no idea where to find a lockbox or doesnt want to pay for one and since you are doing this virtually, you wouldnt be able to just drive over and put it on the property. How would you go about handling this? Thanks!
I ask my photographer who took pics to do it or I pay someone on Craigslist to do it.
Jerry you are a Flippin genius, love it mate
I am so grateful for your videos. I am learning so much. I have to agree.... several times I have spent countless hours trying to make that "square peg fit in that round hole". It's nice to see first hand when to push and when to perhaps move on. Thank you so much for these live call videos! They are little gems! On a side note - I say pass on the deal and move on! Plenty more motivated sellers out there!
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Great negotiating video... Thanks
I am amazed he stayed on the phone with you for so long.
Love love love the live call vids. Thank you.
Yes sir, I would not spend any more time and wholesale it. Your fee is pretty good in that you would still earn a good return because you got into the deal equitably. WHOLESALE!