- What are you doing?
- What leads should I submit?
- What kind of properties do you work?
- What locations do we work leads?
- Where do I submit leads?
- How long does it take to close a lead?
- What and how will I get paid?
- Do you have a script to talk to sellers?
- How long have you been in the business?
- How soon do you contact the lead submitted?
1) What are you doing?
We are working leads from fellow investors/wholesalers that don’t fit their business model or they need help closing or selling the deal. We contact these leads and still try and close or buy them based on what the seller wants. We purchase with creative buying techniques. This allows us to buy a house with little to no equity.
2) What leads should I submit?
If you have a seller that wants more than you are willing to pay or can make money from, that is a lead we will work. However, they must be interested in selling on terms or have motivation to sell. Please check the Terms Seller Script to determine what to ask and how to easily pass the lead to us. If they need to sell and have motivation we can negoitate to get the right price or move them into a creative terms deal. We also help with selling contracts you already have. You must be direct to seller and it must not be a daisy chain. Be sure to check this link out on what is a good lead! (Click Here)
3) What kind of properties do you work?
- Single Family Homes
- Multi units 2-4
- Small Multi Family 5-100 units
- Small mobile home parks 5-100 units.
*We do not work land deals or commercial property.
4) What locations do we work leads?
We will work leads all over the nation. However, they must meet the below criteria. Reason why is we are limited when a property becomes to rural of an area. Our disposition strategy gets reduced and it is a lot harder to find buyers.
- Town/city must have a population of 50,000+
- If less than 50,000 it must be connected to a bigger market that has a population of 200,000+
- If less than 50,000 and not connected to a bigger market, it must be a tourist spot for Airbnb. (College,lakes,skiing,beaches,etc etc). It also must be within 1 ½ hours of a major city.
- Prefer to have a Home Depot in the town or close to. (Not a must)
5) Where do I submit leads?
You can submit leads (Here). Just make sure to fill out all of the information for us to get started and get you paid ASAP.
6) How long does it take to close a lead?
On average it takes 12 contacts with a seller to get them to sign an agreement. However, each lead will be different but we will keep following up if there is any potential for us to buy it. We will follow up if it takes us 1 week or 2 plus years. Yes, we have closed deals that were 2 years old! We are committed to closing leads and have the team, system, and process to make sure no lead is left behind. From the time the agreement is signed by the seller to the time we close escrow will really depend on title work and the seller’s situation.
7) What and how will I get paid?
We do everything through an escrow and title company that is familiar with closing creative deals. Your name/company will go on the closing HUD to be paid as a referral. We will also have a referral agreement electronically acknolwedged by you when you submit a lead, describing the terms. See an example (here). We pay you $1,000 for the lead if it is purchased or assigned on creative terms. We do a 50/50 split of the assignment fee if we are able to wholesale the deal with no out of pocket costs. If we close on the deal with our investor or our funds and wholesale it the split will be 70% to REI Deal Closers and 30% to you. If we purchase the property for a flip or to hold as a rental with a all cash purchase we will pay you $2,500 to $5,000. If you need help with the selling/dispo of the contract it is a 50/50 split of the assignment fee. That’s A pretty good deal since normally this lead would not have made you anything and you don’t have to do any more work.
8) Do you have a script to talk to sellers?
In this example seller wants $100k and you need it for $80k. ( For moving into Terms)
You: Mr/Ms Seller, I can’t get to your $100k however, I have a few colleagues that might be able to if you would consider terms?
Seller: What are terms?
You: Well basically if they can pay you what you want, take care of closing costs, you make no repairs, and pay no commissions would you consider them making payments over time?
Seller: I would consider that.
You: That’s great! As I mentioned, I don’t buy this way, but I can get you connected to Dustin, Gavin or someone on their team and they can explain in a lot more detail what they do. Then you can determine if it is a good fit for the both of you! They will give you a call from 405-546-2566.
Common Objections:
Seller: I still have a mortgage?
You: That’s okay, they can still purchase even with a mortgage but you should talk with Dustin and Gavin to get the details.
- The seller might ask for more info, but what you want to do is keep referring to us to answer more of the technical questions.
9) How long have you been in the business?
Dustin has been in the business since 2005 and has been part of 5,000+ transactions. Gavin has done hundreds of deals in wholesaling since 2016.
10) How soon do you contact the lead submitted?
It usually takes about 24 to 72 hours during the workweek to make the initial call depending on the amount of leads being worked on. We are looking to hire more acquisition managers to speed up the process.