This is a story about one man, one woman, two weeks and a twenty-three thousand dollar profit.
When I first started investing I took real estate classes, read books and manuals, and listened to cassettes (yes cassettes…what are those?!) constantly.
I wanted to learn as much as I could and I wanted to make as much money as I could. I knew the more I learned, the more I earned.
I started buying multi-family properties. Then I began flipping single-family properties so that I could buy more multi’s.
It was during one such flip that I encountered a very strange experience.
I got a call from a woman who had seen one of my “We Buy Houses” bandit signs on a telephone pole.
I got out my seller’s script and started asking her questions about the property and her situation.
She had a three-bedroom ranch in Brockton that needed a little bit of work. She was looking to sell and move to another area.
I asked her if she was behind on any payments (I wanted to know how motivated a seller she might be). She said that she was not behind. She just felt it was time to move.
After several other questions, I knew she wanted to move, but I still didn’t know how motivated she was. She was actually playing her hand very close to her chest, as a good negotiator should.
It was time to ask her the price question, that question that makes our stomach get all queasy so we avoid to the very last minute. It is the question, we need to know the answer to so we know we are not wasting our time.
The question I ask is one of the best questions I had […]