CONSULTATION #3 GUIDE
Last Weeks Assignments Review
Challenges?
THIS WEEK’s KEY TOPICS & LEARNING FOCUS:
Lead Funnel & Deal Evaluation
-Learn to take a seller lead: Asking the right questions
-Evaluating Deals & Deal Analyzer - In Office
-Drive comps to get familiar with your neighborhoods
Extra Effort-Negotiating, Handling Objections & Meeting with Sellers
Key Topic 1:
Taking a Seller Lead
Objectives:
-Gather the right information from seller quickly and efficiently so you can make a decision if this lead is worth pursuing.
-Explore different ways to ask a question to get the answers you need
-Introduce the Seller Lead Sheet
Assignments:
a) Listen to CD 1 of Wholesaling Manual: “Taking Leads From Sellers”
b) Download “Seller Call In Lead Interview Sheet”
c) Practice taking a lead playing with your partner/spouse. Make sure you practice your 30 second elevator pitch.
Resources:
-Video
enter password fortunebuilders1 Scroll down to Bonus Series and watch the video “Taking a lead from a Seller”
-Download Seller Call in Lead Interview Sheet
-DVD- in Wholesaling for Quick Cash “Taking Leads From Sellers Using The Seller Lead Sheet
Key Topic #2:
Evaluating Deals & Deal Analyzer
Objectives:
-To get familiar with all the moving parts of deal evaluation
-To be able to get a snap shot of net profit of a property without ever leaving your office
- Introduce the Deal Analyzer Spreadsheet (one of our most widely acclaimed tools!)
Assignments:
d) Read Deal or No Deal
e) Determine an ARV for the home you live in. If you rent do it on a family/friends home. Get 3 Active Comparables, 3 Sold Comparables from Zillow.com
f) Contact your Town Hall for records on a particular property
h) Listen to CD in Wholesaling for Quick Cash: “Using The Deal Analyzer to Determine Your Offer”
i) Read Chapter 3 aloud in Wholesaling Manual
Resources:
-Deal Analyzer http://s3.amazonaws.com/Fortunebuilders/mastery3/Documents/Wholesaling/Deal%20Analyzer.xls
- CD in Wholesaling for Quick Cash: “Using The Deal Analyzer to Determine Your Offer”
- pw: fortunebuilders1
-Bonus Series Evaluating Deals on Zillow
-Chapter 3 in Wholesaling Manual
-Deal or No Deal:
Key Topic #3:
Driving Comps in Your Neighborhood
Objectives:
-To get even more familiar with your area so you can easily identify potential opportunities based on neighborhoods
-To be able to estimate an ARV based on recently sold homes in your area
Assignments:
j) Reach out to your local real estate agent, and try to get some comparables for a subject
property you are analyzing
k) Drive around 5 comparable properties of the deal you analyzed
l) If you are able to get into the properties, try to estimate repair costs to bring the house to the neighborhood standard
Extra Effort:
Negotiating, Handling Objections & Meeting with Sellers
Objectives:
-To understand the concepts of negotiating, common objections and how to handle them, and how to professionally conduct an appointment at a prospective seller’s property.
Assignments:
m) Read Chapter 5 in Wholesaling for Quick Cash CD’s
n) Practice negotiating techniques and overcoming common objections with your partner
Resources:
--Wholesaling for Quick Cash Chapter 5, Meeting & Negotiating With Sellers
Assignment commitments due by next session:
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Schedule Next Call:
Date:
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