Most People Suck At Closing Sellers -- Just Follow This Method... | Flipping Mastery Weekend Edition

On today's Wholesale Hotline Podcast (Special Saturday Edition), we help you start your weekend right offering tips, news and mindset advice. Show notes -- in these episodes we cover: Tips to level up your wholesaling business. Motivation to keep you going on your real estate journey. The latest industry news to keep you updated. Please give us a rating and let us know how we are doing! ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖ ☎️ Welcome to Wholesale Hotline & Flipping Mastery Breakout! ☎️ Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate. **NOTE: To Download any of Jerry's FREE training, tools, or resources… Click on the link provided and enter your email. The download is automatically emailed to you. If you don’t see it, check your junk/spam folder, in case your email provider put it there. If you still don't see it, contact our support at: [email protected] or 888) 958-3028. ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖ 💲 USE THIS LINK FOR DISCOUNTS AND FREEBIES TO USE IN YOUR BUSINESS: 💲 Make $10,000 Finding Deals:b https://flippingmastery.com/10kpod Get 100% funding for your deals! https://flippingmastery.com/fspod Mentoring Program: https://flippingmastery.com/ftpod FREE 8 Week Training Program: https://flippingmastery.com/8wpod Get Paid $8700 To Find Vacant Lots For Jerry: https://flippingmastery.com/lfpod FREE 30 Day Quickstart Kit https://flippingmastery.com/qkpod FREE Virtual Wholesaling Kit: https://flippingmastery.com/vfpod FREE On-Market Deal Finder Tool: https://flippingmastery.com/dcpod FREE Wholesaler Contracts: https://flippingmastery.com/wcpod FREE Comp Tool: https://flippingmastery.com/compod FREE Funding Kit: https://flippingmastery.com/fkpod FREE Agent Offer Sheet & Scripts: https://flippingmastery.com/aspod FREE Cash Buyer Scripts: https://flippingmastery.com/cbspod FREE Best Selling Wholesaling Ebook: https://flippingmastery.com/ebookpod FREE Best Selling Fix and Flip Ebook: https://flippingmastery.com/ebpod FREE Rehab Checklist: https://flippingmastery.com/rehabpod ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖ 🔌 PLUG IN & SUBSCRIBE 🔌 SUBSCRIBE: Jerry Norton and Flipping Mastery TV FACEBOOK: http://www. Facebook.com/flippingmastery INSTAGRAM: https://www.instagram.com/flippingmastery/ ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖ 🤝 #SQUADUP & GET MORE DEALS DONE in the Wholesale Hotline LIVE Facebook group: https://www.facebook.com/groups/759418414582645 🤝 ‼️‼️Pro tip: Make a post with your market & what you need help with‼️‼️

• 0:03Speaker 00

  Hey, it's Jerry Norton. Welcome to the Wholesale Hotline Podcast and the Flipping Mastery Breakout. We want to know how we're doing, so please leave a comment and give us a rating.

• 0:18Speaker 00

  It's Jerry Norton here, and one of the most common and effective ways to generate distressed seller leads is from cold calling. It's a very inexpensive method if you do it the right way. So what I want to do is I want to break down for you an exact process to go from that warm lead generated from a cold call all the way to a contract.

• 0:42Speaker 00

  I call it the five-step WCL Warm Called Lead Method. I'm going to break it down. I'm going to go over the scripting. I'm going to go over the steps. And I'm going to give you this resource for free. So, once a warm lead is generated from cold calling, meaning the caller called, they verified that the seller wants to sell, that they're interested in an offer, and that lead gets generated. Now, what we would call a warm lead, whether you called it, whether you had a caller call it, whether you're using my service where we actually do the calls for you and generate the lead, I'll talk more about that in a minute. However, the lead was generated from a cold call, now this is a lead that needs, from taking it from that contact, all the way to the contract.

• 1:24Speaker 00

  And I look at this in a five-step process, and here's what I found to be the most effective. Step one would be to text that lead before you call it. So, when you get that lead from the cold call, however that was generated, texting it first is very effective because, for one, I want to initially try to create an inbound call. So, my text sounds like this. "Hi, seller's first name. This is Jerry Norton. You spoke to my team recently about an interest in selling your house on 123 Main Street. Please call me to discuss a cash offer." So, that's my initial contact with that seller, and again, I'm trying to get them to call me. Now, I'm not going to wait for them to call me. I'll give it a little bit of time, sometimes even five minutes, and then I'm going to outbound or call that seller.

• 2:10Speaker 00

  A couple of really effective things. For one, it now establishes in that seller's phone that you're somebody that is contacting them. When you call them, their caller ID should recognize you now, especially with an iPhone, because now it recognized from the text that you did earlier. So it might say, you know, possibly Jerry Norton calling. It also lets them know, hey, this person's calling me. They're the ones that just texted me a little bit ago. So the response rate drastically goes up when you do this way, when you text first. Again, I've got all these scripts and all of this process written down here on this really simple PDF that I'll give to you for free. Stick around to the end. Okay, so step two now is to outbound and call the lead. And at this point in time, if they don't answer the phone, do a

• 2:53Speaker 00

  double dial, meaning you just dial it right back, even do a triple dial. What happens is, is when you double or triple dial, the seller thinks this might be urgent. This person's calling me, you know, twice or three times, I better answer. And so it helps with that open rate on the call. And this is how this conversation goes. This is my process that I like to do. Hi, is this Jane Doe? Great. Nice to meet you, Jane. My name is Jerry Norton. You spoke to my team recently about an interest in selling your house on 123 Main Street. Are you still looking to sell that property? Okay, great. What price are you hoping to get? Hundred thousand. Let me take a look and see what we can do. Then you're going to move into step three. And step three is discovery in

• 3:37Speaker 00

  the process. Okay, so you're going to ask certain questions. You want to reveal a timeline term, seller motivation. So the first one is, you want to find out is, is there hardship? So a question you would ask is, what has you wanting to sell this property? Okay, get them talking. Talk about how they lost their job. Talk about how they inherited it. Maybe they'll start to reveal that they're behind on payments, whatever it might be. So the second question here is about urgency. Is there urgency? Assuming we agree on price and terms, how soon are you hoping to sell? Or how soon are you hoping to close? Now, that's going to help you understand urgency. The third question is the property in poor condition. Can you tell me a little bit about the property? Maybe you ask, when was the last time it was updated?

• 4:20Speaker 00

  And then the fourth question is, is the seller willing to sell at a discount? You might say, if I could close on your timeline in its as-is condition for all cash with no cost to you, what price would you do for an offer like that? So now you're revisiting price, you're seeing that they're going to come off of that initial price a little bit. And there is a creative financing variation here. If you guys do creative finance, you might say, I might be able to pay more if you would be willing to wait to get some or all of your money. Now they're going to say, well, what does that mean? And it will, it will introduce seller financing or subject to those of you that do that. Once we get through that discovery phase, step four is then to determine your maximum allowable offer, your buy price, your contract price.

• 5:02Speaker 00

  While I'm going through the discovery, I'm listening, but I'm also comping and looking at the property and getting my head around what's going on. And I'm running my formula to determine where I really need to be on this property. And I'll show you a really simple way we do this. If you want to get to this very fast, like with very little thought or analysis or time, then there's a really quick tool to do that or a really quick method to do that. So pull the property up on Zillow and look at Zillow's Zestimate number. It's Zillow's estimated value number. Then what you're going to do is if the Zestimate number is over 250,000, then you want to contract at 50% of the Zillow number as a general rule.

• 5:43Speaker 00

  If it's between 250 and 100,000, then you want to be at 35% of the Zillow. And if the property is below 100,000, then you want to be at 10% of Zillow. Again, these are some ballpark parameters, but it'll get you really quickly in the right area. Now you can get a little bit more sophisticated. I have a free offer calculator, go to freeoffercalculator.com. And that algorithm is broken down much more succinct. It factors in the exit price, your wholesale fee, and it gets you instantly to your offer price. And again, that's really fast as well. But just as a general rule, as a really quick way to think about this, over 250, you want to be at 50%. Between 250 and 100, you want to be at 35%. And under 100, you want to be at 10%.

• 6:27Speaker 00

  And then step five now is to negotiate up to that maximum allowable offer. Okay. So when you make that cash offer, you want to really control the frame here. You want to start with your low anchor so that you have room to negotiate up to that contract price I just talked about. So here's how this looks. You're going to say something to the effect of, for this to work for me, I would need to be in the low 100s, high 200s, around 150. This is a ballpark. The low anchor is a ballpark. It's not a concrete, specific number. It's a ballpark number and it needs to solicit a no, meaning it needs to be ridiculously low. You're trying to get the seller to respond by saying, well, there's no way I could pay that low.

• 7:11Speaker 00

  So when the seller says that there's no way I can go that low, your then reply is, yeah, I get it. That's my price in the perfect world, but how close to that price can you get? And that's when they're going to come back and you're going to really see if there's motivation. Because if there's real motivation at that point, they're usually going to come down with a real number. At that point, then you're going to negotiate back and forth. You're going to say something like, well, I said, I wanted to be at 100 in the perfect world. You initially were asking for 200. You came back and said you could go as low as 120. You know, why don't we cut it in the middle and come to 110 and see if we can get this done? Something like that, right? You're going to come now up. You want the seller to feel like they brought you up, not you pushed them down. See the difference there? And then you're going to negotiate at that price.

• 7:56Speaker 00

  Guess the next step would be, you know, you're going to send them a contract to sign. And you're going to then get the property under contract and now you're going to move into dispo to wholesale the deal. But as far as that five step process, that's a really simple way to do this. And honestly, keep it simple. Like, don't overcomplicate this. This isn't have to be some like long drawn out overly detailed process. It can be as simple as the way I just did it. And if you watch my live seller calls, that's exactly what it looks like when I just broke down there. That's it. I don't overcomplicate it and you shouldn't do the same thing. And like I said earlier, I'll give this process to you for free. It's got all the scripting. It's got the steps, everything you need. I'll put the download link to get this for free in the description. And finally, I want to talk about this lead service that we're doing through PropWire.

• 8:41Speaker 00

  It's called Worm Call Leads Accelerator, or WCL. And what's unique about this is it's not a PPL, it's not a pay per lead, it's not a marketplace. This is literally where you have a subscription and you get hundreds of leads delivered to you in a month. We deliver them daily, Monday through Friday. So you literally just open up your list and you just start calling. They already are sellers that have raised their hand and said, yes, I want to sell. Yes, I'm interested in an offer. And then we tell them that someone's going to be calling you in 24 to 48 hours to give you an offer. It's a really cool service. And again, we have massive purchasing power. We already have all of the data through PropWire and we've partnered with some call centers overseas. These callers are calling these every single day.

• 9:25Speaker 00

  Over 100,000 a month of these warm seller leads that we are then passing off to you. So it's a tremendous service. You cannot get something like this at the price we're offering it anywhere in the marketplace. Every time we open this up, we sell out instantly. The first time we sold out in three days. If you go to WormLeadsDaily.com, if the program's open, then you can sign up. You can get locked in on your subscription and we will continue to service you once you're in that program. If the program's full, then you'll see a waiting list when you go to WormLeadsDaily.com. If you see the waiting list, get on it because when we open up a new group, we'll notify you first. You get first opportunity and then you can get into that new group. We do close it down because we have to build more resources, hire more callers and generate more leads.

• 10:11Speaker 00

  So our costs, our resources, everything goes up a little bit. So then each time we open up a new group, it tends to go up in price. Again, still unbelievable pricing, like you can't beat it no matter what. For example, the first time it was $1.66 per lead. That's what you paid for a warm lead, insane. The second time it was $2.49 per lead. Depending on when you watch this video, I don't know where it'll be at. But again, you want to sign up for this as soon as it comes available. And do not lose your subscription because if you do and you come back, you might be at the higher pricing. Okay, so again, that's WormLeadsDaily.com. Sign up if it's available, get on the waiting list if it's not. And don't miss out on this opportunity because you will not get leads delivered to you daily

• 10:55Speaker 00

  at a better price than this anywhere in the marketplace. Thanks for listening to this podcast. To get more free tips, check out my YouTube channel. Just search Flipping Mastery TV on YouTube, where I have over a thousand videos teaching you how to make more money with real estate. On my channel, I also give away free stuff like my Quick Start Kit, with everything you need to flip your first house in the next 30 days. Or my deal finding software called Data Cruncher, which finds discounted houses in any zip code in a matter of seconds. You can get those for free at myquickstartkit.com and mydatacrusher.com.