Pre-Qualify Potential Properties

October 22, 2009 Hans Anderson Real Estate Investing, 1

One of the most valuable assets you have is you’re time.

Take a look at the real estate section in you’re local newspaper. How many properties do you see for sale, 10-20-30 probably more.

How many distressed-properties.php">properties do you think you can visit in a week. Now most people have a full time job (you better have one), families and many other distractions in our lives. I don’t mean distractions in a negative way, they are just apart of our daily routines.

How many properties do you honestly think you could visit in a week.
Two or three, maybe four. Now try to keep this pace up for a prolonged period of time. Sounds like a pain in the butt.

What if you pre-qualified these properties before you went to visit the property.

Why not call the phone number you found in the newspaper and ask some pre-developed questions.

The questions should be geared toward finding out why the home owner is selling. Now I’m not telling you to negotiate over the phone. That should always be done in person.

Why not just ask them why there moving.

If they give you a long drawn out answer like, “well we think we want to move to a smaller house now that the kids are gone. But were really not to sure.”

Stop the bus and get off, because this bus is going no where. These people are not motivated at all, so why waste any more time. I’m not suggesting that you be rude, excuse yourself quickly an politely. Then make the next call.

Now the next caller tells you that he just got a job on the other side of the country and he starts in 3 weeks. Now were talking. This property you want to go see.

Don’t just dive in with the big question, you can be friendly and ask a little about the property. But don’t waste to much time.

You will probably spend 10 minutes per call. But you will be setting up appointments to go visit properties of motivated sellers only.

Now if you can only find time to visit 2 or 3 properties a week, they will at least be with motivated sellers.

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Hans Anderson