Today I want you to remember that you work for yourself.
In wholesale deals: You are NOT the cash buyer’s employee.
That’s one BIG reason why it’s important to have a solid list of buyers… and pitch deals to all of them so that they compete for your wholesale deals.
Sure, you may have a couple awesome, reliable buyers… but I’m telling you — don’t use the same buyers all the time — it will cause you to lose money over time.
See, your repeat cash buyers will probably start to get a little cranky when they see that you’re making $5k–$10k off of them for every deal. They can do the math when you’re doing 3–5 deals with them a month. It’s happened to me. That’s how I know about this.
Use different buyers for your wholesale deals and remember you do NOT work for them.
When it comes to lease options: You are not the seller’s employee.
You need to play the role of the reluctant buyer.
Don’t get stuck in presentation pitch mode. The seller needs to pitch you on why you should buy their house… you don’t sell them on why they should do a lease option with you.
You’re an investor looking for deals… not a broker. NOT an employee of the seller.
YOU ask the questions:
- Why are you selling your home?
- What are you going to do if you can’t sell it — rent it out?
- Who’s going to manage it as a rental?
- What can you tell me about the house so I can see if I’m interested in it?
- How much do you want for your house?
- Why should I do business with you?
You are in control. You tell the seller how it’s done.
Position a lease option like this: “I’ll take care of everything — tenants, termites and toilets. You don’t want to deal with all that, Mr. Seller.”
You’re taking on the hardship and solving the seller’s problem.
You’re staying in control.
Just remember in wholesaling and lease options: You work for yourself, not them.