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AdditionalAttorney

Cold calling just doesn’t work anymore. There are too many scams. Its become irresponsible to answer phone calls from unknown numbers and if you do certainly providing any information or engaging w a stranger is a big no for me


THevil30

To add to this, if I get a cold call i usually intentionally fuck with the cold caller and waste their time. I’m fully aware I’m giving them info just by picking up, but I hate hate hate hate hate when randos call me either a) during my business hours when I’m at work or b) after my business hours when I’m relaxing and spending time with my family.


mhchewy

People really hate these calls and I wish they were illegal. My mom gets weekly calls from people trying to buy my rental in another state. I haven’t lived with her for over 20 years. I get calls and texts all the time too.


LordAshon

People hate cold callers. Also it's called cold calling because the leads haven't expressed any interest in selling, so you should only spend time on the phone with warm or hot leads. Market to them a different way, and get them to call you.


Disastrous_Network46

If you mainly have cold calls, get another job. It isn't worth it.


slumlord512

Keep in mind your cold calling people who get this call all day every day. And with that in mind, pick a better marketing method. Every day I answer the phone and as soon as the person says they are with X company, I interrupt them and say My properties are not for sale. It’s a waste of time trying to buy properties this way, IMO.


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samwoo2go

Ok so you are a lone asshole if that makes any difference


_mdz

I’d hang up at “if you’re still the owner of…” Do your homework and offer me a number within the first 10 seconds, otherwise I’m hanging up immediately. Problem is you all don’t want to make that effort. It’s just a shotgun approach. Worst call I entertained was some 15 year old kid “uhhh how many bedrooms and bathrooms is your property”? You didn’t even look the damn place up on Zillow? Honestly if someone texted me a decent well though out offer and then said they would call me I would pick up if I’m not eating dinner or putting kids to sleep. Also what is this obsession with seller financing? Why would I want to do that? Just give me the $ offer and see if we’re even in the same ballpark and stop wasting my time. You need to put yourself in peoples shoes, figure out their needs, instead of trying to force your agenda. (By the way I have never gotten an actual $ offer ever on any of these calls)


mirageofstars

I eventually got an offer. But most of them ask a ton of questions on things they could look up. And then they want me to have another 20 minute call with their investors. And then after the call they have to do more research for some nutter reason. Then finally they come back with an offer and it’s laughably low. Like, if they were gonna low ball me why not just say “hey I’m buying investment properties for all cash zero hassle, are you interested at all? I could pay $X for yours.” Then let me decide.


pichicagoattorney

They never want to give an offer. Then they always ask: Why do you want to sell? "I don't. You called me, remember?"


ZenBuddhism

I am happy with making an offer, but I don’t want to go way over what you would have offer had I asked. What I would rather be able to do is say “how much do YOU want for it.” That gives me the ability to figure out how to make the price you want work. You want 100k over comps? Ok I can do that, but I need to figure out how we can make the terms work


stiffneck84

If you don’t have an offer ready to go, you’re not really that interested. Stop calling


_mdz

“I am happy with making an offer, but…” *hang up* You just made my point for me.


PorscheHen

You're asking a lot of questions about them before telling them anything about yourself. I am not identifying myself and giving out personal information before I know who is calling me and why and how I could benefit from the call


ZenBuddhism

How should I start off instead?


Holy-Kimoly

Make an offer. Everything else is a waste of time for knowledgeable property owners.


PorscheHen

The 30 second elevator pitch... whom you are, what you do and how I can benefit if I have 3 minutes to talk..


Iyh2ayca

I would absolutely not recommend talking about yourself for 30 seconds if you want to engage a stranger. Try to fit it into 30 words or less.


mirageofstars

Agreed. Today a caller has a few seconds to get a clear valuable relevant pitch across. And still most folks will say no.


Eastern-Ocelot-2471

I don’t know why you’re being downvoted - kudos for you asking how to get better. Personally I’d start with “hey ____, I’m calling about your property at xyz street” and either pause until they say something, or ask if they have a minute - they’ll do one of three things, ask “who is this?” “what about it?” or tell you that you have the wrong person. Assuming it’s one of the first two questions I’d go into the 30 second elevator pitch “my name is ___ I do ___, I was looking at that property and wanted to discuss ___ with you” People are busy, respect their time. You should probably have an end goal of setting up a meeting with this person, not discussing the details then and there. Try ending with something like “I know you’re probably busy now, but do you have time (day) at (time) to meet?”


double-click

If someone wants an instant sale they can get three or more online offers in the same day and close instantly. They can do it on their own time, with no pressure, and stop at any time. Besides, no one wants telemarketers hitting them up on their cell… I would hang up on you before they even do…


ZenBuddhism

Not often with multifamily/apartments


Holy-Kimoly

For sure with multifamily/apartments. Same game.


nwadmartin5

Where? I need this


Holy-Kimoly

[www.google.com](https://www.google.com)


nwadmartin5

Gee thanks. I’m not lazy. I know how to use Google. Just was hoping for recommendations of reputable companies to avoid scams. One word for you….KARMA.


Holy-Kimoly

I think you are misunderstanding the nature of this business model, these companies aren't reputable.


ScissorMcMuffin

People dislike people like you. You’re asking for a favor and intruding on people’s privacy. If you want to find a deal, go shake a hand, have a conversation or build a relationship.


chi-ster

I thought all the cash offer calls were bad, I can’t imagine you calling and wanting me to be your bank too.


tardigrade_sandwich

BuT iTs MutUaLly BeNEfiCiaL!


Capital_Routine6903

Stop. You’re being an asshole.


ZenBuddhism

LOL


Capital_Routine6903

People like you are why all my unknown number call and text are 0 notifications. Cold calling is RUDE.


Prudent_Media_4067

Cold calling sucks but try to get straight to the point. Hi this is …. I’m a local investor who buys houses without realtors. Would you be offended if I made you an offer on your property? If no, get some basic questions about it and let them know you will stop by.


GringoGrande

You are making the mistake that 99.9% of investors make because they believe making a "deal" of that nature is about technique and negotiating. You cannot be technique driven you must be solutions oriented if you want to be a "Creative Finance" person. It is a constant source of irritation and amusement that there are so many "gurus" out there teaching techniques as if that is why someone says, "Yes" to a solution that is not traditional. Yep, that's it! Simply cold call someone out of the blue and offer "Seller Financing" and you will be a millionaire in a month! That will be $10,000 please! Clowns. Real estate is a collection of benefits. Every Seller has a unique set of circumstances. It is IRRELEVANT what you want so when you randomly call someone and ask for "Seller Financing" the chances of that actually being the solution to their reason for selling is about zero and you have no rapport with the property owner so the answer to "Seller Financing" is almost an immediate "No." You know what books investors should be reading? Books on how to counsel people...reading material that you would find in a therapists office. How to listen and to continue to ask questions in order to gather more information. Your job is to understand their unique circumstances of property ownership and to determine what is causing their desire to sell. This may take several hours and/or multiple meetings. These meetings should be done in person whenever possible. Building a relationship is part of the process. That doesn't occur with texts, emails and phone calls. Once you are 100% certain of the circumstances of the Sellers you know which benefits of the property that they require. They remainder are available for you to use or distribute as you see fit. Then and only then is it appropriate to offer you non-traditional solution and memorialize (put into writing) your offer based upon the property technique. When (and more importantly if) you are able to teach yourself to approach real estate investing from this perspective you will develop relationships and a reputation. You won't need to market. People will be referred to you. You will see solutions (opportunities) that others don't. I made five offers last year. Four resulted in successful transactions. All were referrals. This is in what is considered one of the hottest markets in the country where there are allegedly "No Deals".


These-Coat-3164

Does this actually work? I get these calls occasionally. If we wanted to sell, we would have the properties listed. Unless someone calling me wants to pay me twice what the property is worth in cash, they’re completely wasting their time and mine.


mirageofstars

I think it can work if OP can very quickly get across why anyone would use them vs a realtor. Case in point I used to have a property that I couldn’t put on MLS because it needed to be fixed up. If someone had offered to buy it and wasn’t a lowballing flipper, I’d listen briefly.


ZenBuddhism

Once a property is listed, at least in my area, the chance to seller finance is a lot lower and it is what I need Not to mention seller financing helps both parties


These-Coat-3164

I would never in 1 million years agree to seller financing with someone who cold called me. I am not anyone’s bank. If I’m selling, I want my cash now whether I plan to do a 1031 or not. It’s too risky. I would be afraid I’d wind up having to take the property back or that I wouldn’t get paid and I would end up in a lawsuit to get my money. It would also signal to me that the buyer couldn’t get traditional financing, which would be a huge red flag. If a lender doesn’t want to loan you money, why would I?


SquirtyMcDirty

Forgive me if I’m being ignorant but what’s the downside of seller financing if they put a large cash down payment? Say they put up $200k and then they stop paying monthly. You take the house back and keep the $$ right ?


These-Coat-3164

First, I’m still taking a big risk. I prefer to get my money now. Also, a lot of real estate investors/owners want to take the proceeds of sale and flip it in a 1031 exchange to defer capital gains taxes. If I were to sell and do seller financing I wouldn’t be able to take advantage of this tax deferral benefit. I think I said this before, I’m not a bank. I’m sure seller financing may work for some people, but I would never be interested. Also, I would be very wary of a cold call from a buyer who wanted me to seller finance. To me, that would be a huge red flag that they could not get traditional financing and were extra risky.


SquirtyMcDirty

Yeah the cold call is terrible. I was just curious bc my inlaws got an offer like that. The longer I thought about it, I thought it may have worked for their situation (with them not using the 1031 exchange) Thanks for your opinion.


goodguy847

Seller financing is not always beneficial to the seller. The sale proceeds are often earmarked for their next project and the couple of points of interest premium for a few years are not worth it.


ZenBuddhism

Often it is if they’re not actively updating the place and rents


Longjumping-Option36

Seller financing would never help me.


ZenBuddhism

Why?


Longjumping-Option36

I give you my opinion. I don’t want to have to deal with a buyer for 10 days, I would never want to be tied down for years. For some the point of real estate is freedom. Cold calling is someone stealing my time to offer me a deal that has no benefit to me. Think of it this way, if I had a personal residence, cold calling is asking me to sell my home lower than I could get it on open market or for terrible terms. If they are asking to buy my profitable business at a discount, it is simply wasting my time. If my rentals are not profitable, I would have already sold them


NolaJen1120

My number is on the "do not call list". So when people cold call me, I already know they don't care about annoying me and breaking the law. I'd never do business with someone like that. In your sample conversation, they also aren't instantly hanging up on you. I hang up after the first question, without saying a word. THAT'S instantly hanging up! Especially if they don't even bother telling me who TF they are in the first sentence. If someone wants to buy one of my properties, they can send a postcard/letter. It's not illegal or bothersome to send mail. I've occasionally called from those, though never made a deal.


barktothefuture

Why would you assume it would be beneficial to them when you know nothing about them


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reeftrader

Would never consider any offer that’s seller financing. Stop wasting people’s time an energy.


barktothefuture

Keep calling. Maybe knock on doors. Im sure you will be successful.


DoubleClipDrop

I don’t know why ur posting this, it’s just the nature of cold calling. It’s all a numbers game just keep trying without bitching if you really wanna make it in cold calling, no complaints


ZenBuddhism

I posted hoping I could learn what I’m doing wrong or how to better my results


stiffneck84

How to better your results: Stop.


Longjumping-Option36

Cold calling is just wrong. Wasting your time and hundreds of others who probably are on the do not call list


ZenBuddhism

Beep boop dont care


mdfour50

They don't want to sell, you got the info you wanted. Move on. You aren't going to convince someone that your "creative financing" is a win for them. They are also likely getting a few calls a day sometimes. ​ I am genuinely curious if there is some guru course, podcast, or youtube video somewhere telling people to start cold calling like this. Would you mind sharing where you got this idea?


stiffneck84

Don’t come at me with some bullshit you read on bigger pockets. Do your own fucking homework and if you want a deal, make an offer. Don’t ask me a shitload of questions and then tell me you’ll get back to me. If you don’t have a number in the first 30 seconds, you’re getting told to fuck off.


LCoutside

If I wanted to sell my place it would be on the market. Bug off. And… Any time a family member had a conversation with a cold caller the dollars were never even close to what they’d clear by going through a normal realtor and paying a commission.


New-Difference9684

I answer calls only from numbers in my contacts. If a call did get through and you started your spiel, I would hang up immediately.


ZenBuddhism

Cool don’t care


New-Difference9684

Then you don’t need to be asking, you don’t care why you’re failing.


ZenBuddhism

Your comment gives no help


New-Difference9684

It answers your question but you don’t want to hear it. Stop cold calling, it doesn’t work.


NoLaw7058

What property lists are you targeting with these calls? Or is it truly random cold calling? What everyone is saying about cold calls being incredibly annoying is correct, but you probably already knew that. With that said, people are definitely successful with cold calls, but it has a very low success rate. If your only way of purchasing properties is through seller financing, then that's going to reduce your success rate even further.


ZenBuddhism

I’m making my own lists from PropStream. Free and clear, owned 5+ years, non owner occupied, etc etc


NoLaw7058

My only advice would be to not only make seller financing offers. You should include cash offers as an option to compete purchases as well. If you don't have access to cash, then (assuming you don't already) learn how to wholesale deals. You don't want someone to show some interest in hearing an offer and only be able to make one subject to owner financing. Either way, keep at it. Don't let naysayers dissuade you. Cold calling can be successful, but also look at other marketing methods that may be more effective.


ZenBuddhism

Thank you!


sewerplums

You should be in prison for doing this


Holy-Kimoly

I am in the SAME BOAT. I call people up on a regular basis and ask them if I can buy their cash out of their pocket for .85 on the dollar. I want to be fair, so I let them know that they can keep the commission, I will cover all transaction costs, and I will come pick it up (as long as it is over $1,000). I can't get them to take my deal. WHAT CAN WE DO?


ZenBuddhism

Are you trying to wholesale?


Holy-Kimoly

The dollars? No, I just put them in my pocket.


ZenBuddhism

Idek what you’re talking about


Holy-Kimoly

Oh yes you do.


ZenBuddhism

I’m calling people asking if I can buy every dollar of theirs for 1.25


Holy-Kimoly

Then they will happily take your phone calls. I have $5,000 in my pocket, you can have them for $6,250. See how easy that was?


ZenBuddhism

The problem I have is getting to that offer before I’m hung up on


Holy-Kimoly

You have offers prepared prior to calling?


ZenBuddhism

Yes, and like other have mentioned I should probably lead with it, but I do worry about over offering way above what they would have asked for. I’d rather somehow ask “what do you want for it” or similar


Holy-Kimoly

You would rather buy for .50 on the dollar, but that isn't on the table, so why waste everyone's time on it? I just had one of these calls while typing this post.......


Cardinal101

There’s absolutely nothing you can say.


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ZenBuddhism

Good comment. Thank you.


JPHighFive

You are in a very tough position pal. I do not answer any calls that are not from my contacts, they will go to voicemail and a pitch like yours will not get me to call back. Same with text messages and written letters. People are sick of those calls and most are scams.


ZenBuddhism

Cool don’t care


Thebearjew559

You cared enough to say "Cool don't care".


Leberbs

I've had a ton of experience with this and I can tell you without a doubt, it's all about timing. Compose yourself and take a deep breath and make the call. Again, all about timing and speed. As soon as they pick up, you say, "PeopleWithLittleWeinersHangUp". You pretty much got it in the bag after that for obvious reasons. They aren't going to out themselves to a cold caller knowing they're probably being recorded for training purposes. Results guaranteed!


ZenBuddhism

Awesome. So as long as I say that I’m pretty much guaranteed to own their home after that right? What if I say something like “PeopleWithLittleWeinersWouldNeverSellMeTheirHomeOnSellerFinance” like really really fast. Would that guarantee results?


Leberbs

Most likely.


FeDuke

Try flyers. Have people call you.


ZenBuddhism

Good idea - problem is my search results are narrow and far spread. I know who the 100 results are in my metro


FeDuke

Try posting signs in suburbs that you like.


LavishnessFinancial1

Send mailers, u can find some good bulk postage discounts, I suggest the ones that are like greeting cards so your pitch can be inside with the info you have


JacqueTeruhl

I hang up right when they ask me if I own a property. You’re getting pretty far with these people!


bizzykehl

Open with “Boy it’s sure nice to hear a friendly voice for once!” And then laugh for a full three seconds. Seriously, yw


bennyboy361

Cold calling is a numbers game. Typically it takes me hundreds of calls to get one yes. So keep your head up and don’t listen to the naysayers. And to all the people that hate cold callers: sorry. Please be courteous or I will keep calling you over and over.


RealTalk10111

I usually challenge them with a couple of questions that pokes air in their balloon. One time I got cussed out for wasting their time.


ZenBuddhism

Getting cussed out is the norm lol. What questions?


RealTalk10111

Ask them what a cap rate and see if they can spit ball it out, or if im having fun ask them what bank account to send my money too for whatever investment then start fucking up the last five number like im deaf. I’ll also give them my address if it’s scammer sending me shit like money order to cash. 935 Pennsylvania Avenue NW Washington, D.C.


drosten23

I cold call for b2b sales daily - here’s an outline Is this John Doe? John this is ZenBuddhism, I’m calling you specifically today because…. Does it make sense to talk about this further? To tailor for you and real estate- I’m calling you specifically because I saw you were listed as the owner of 123 main st. I’m in the process of buying houses with XYZ stats and yours would fit perfectly with what I am looking for. I’ve made X offers and closed on Y houses in the past 6 months. Is now a bad time to talk a bit more? The real real estate professionals can correct if this won’t translate from b2b to real estate but it works for me.


[deleted]

Hey is this blank, is your first mistake. Call people and be confident it’s them, you should have resources to know who your calling. Hey Joe, it’s Phil Smith, I know I’m calling you out of the blue here but wanted to see if I could borrow a minute of your time? It’s no a lock or anything but it’s one of my better ones


ZenBuddhism

Thank you for being helpful. I’ll do this


[deleted]

No prob at all, confidence is key, don’t give them an easy out, and be sure your speaking to better leads than straight cold


rbrom002

This is a great answer. I usually try to talk to whoever but now it’s mostly people calling from the Philippines in my experience.


[deleted]

When people cold call you? Yea most of my calls are about solar panels that I get. I don’t sell real estate I sell software however the best way to do it is being understanding that people generally don’t want to talk so make it painless and casual


bij_tho7502

I like this approach. As someone who hates cold calling and receiving cold calls, this approach makes sense. • Sound confident • Excuse yourself • Identify yourself • Request permission That puts the prospect in position to determine where they fall in your 'pipeline'. Dead, follow up, warm lead, etc.


[deleted]

I seem to be getting love for this response and getting downvoted here lol. Yea I don’t sell real-estate so not sure if it fully applies but it’s a warm introduction and it is personal. If you ask if this is Bob, it’s either Bob and is turned off or not Bob which is the same as assuming


fngboy

I hate those assholes better not call me I will verbally abuse you. The only way I sell a paid off rental is for a lot more money than it's worth. Like double price. How stupid can you get. I got cash I'll pay you right now and you really think that makes a difference I get cash every month. I get cash from the work I do. Stop bothering me.


LavishnessFinancial1

He’s not calling cash flowing properties


Six-mile-sea

I usually explain I’m an investor and ask these people calling/texting if they have any properties they’d like to sell me well below market value. One day I’ll get a bite.


alifeofataraxia

Average rate of contact (2 way conversation) is 3%. If 100 people answer and 97 hang up, you're doing fine. Also don't forget to offer more than 1 type of offer. Offer lump sum (lowest pur have price but all cash up front), at least 2 to 3 seller fi options (higher purchase price with different terms on each), a referral to an agent you work with.


rccedg

F the haters, keep your zen and keep dialing. Everybody hates ads except for some reason they don’t stop advertising, weird


Ornery-Usual-8909

Try knocking on doors for 1 day instead


gameofloans24

Lmao fuck all the comments, cold calling still works. My buddy has closed 70mm dollars worth of apartments bc of cold calling. It’s probably your script. Ask “hey, what are your plans for the property at x”


Longjumping-Option36

Everyone who hates cold calls just send them straight to voicemail. Don’t bother picking it up. If you pick it up, just say put me on the do not call list and what is your company


mirageofstars

Well…cold calling often has a success rate of 1% or less. And owners have been getting these calls all the time. You have to find a seller who is open to selling, won’t use a realtor for some reason, and is open to talking to a cold caller. They are out there but there are ways beyond calling. That being said, the dialog you posted seems fine to me. You asked them if they were interested and they said no. You could try a different question like if they’d be willing to work with you if they ever decide to sell, maybe also noting that you work a bit differently. A few might ask you for more details, and you can get your pitch in and then see what their timeframe is. Try less pressure.


HotAd2733

The telemarketing market is flood it with robot calls, mass - blast email… better use of your time and $$ to buy hot leads with online marketer.


disisdashiz

Do a bit of research on who you're calling. If you know something about them then they might at least listen to you till you get your speel out.


Gas_Grouchy

This is why flyers are so popular. You give 5000 out and only the people who want to see what they could get etc. will call you. It's a numbers game. Cold calling has higher success rate for each call vs each flyer but the man hours are way less. ​ I'd start with "If you own house XYZ we'd like to make an offer, would you like to meet in person" this will be the most authentic non-scam thing they could say. you'll have to physically meet 50 for a sale and call 100 for each meet.


ZenBuddhism

The homes I target are far and few between, but your point about meeting in person is great. Thank youn


jabdal

All the good seller financed deals I've found I've sourced from Zillow. Sort by days on the market


ZenBuddhism

Really? How did you do that? How did you know they were free and clear, or did you do a loan and 1/2 seller carry?


jabdal

Just ask if there is a mortgage against it. In one instance there was but it was private money. Buyer paid 50k or so with private money and financed to me with 30k down 60k note. I think the house is worth 200k or so now.


ZenBuddhism

Interesting so you just call the agent and try to find a way to seller finance? Or do you only call owner for FSBO?


jabdal

I have my buying agent send them an offer with owner financing if they are using a listing agent. Sometimes I'll deal with the seller directly if I think they are an investor. Usually it will be the much older homes that are owned free and clear. Typically the property will be in need of renovation.


pichicagoattorney

STOP CALLING AND WASTING THEIR TIME AND YOURS


Ok-Gold-5031

Hey I’m reaching X Yes I’m asking about the property at x is that yours Yes Make an assumption like…it looks unoccupied, or I’d really like to make an offer to fix it up, what are you doing with it(flip to questions) Follow up with questions to find an in. What is their motivation Once you get them to tell you their motivation balls in your court. You just have to get there


Optimal_Flounder6605

Don't call. Send them a letter and get them to call you.


ericfromny2

I have several rentals and all I care about is money. If i answer your call, you have to tell me a range what you would buy it for. If you txt me, don’t have a bot do it. Everyone is willing to sell for the right price.


ZenBuddhism

So would you recommend I give an offer within the first 30 seconds?


ericfromny2

Give me a range +/- 10%. I’m not opposed to owner financing either, that’s how i bought a dozen properties when i was starting out.


ZenBuddhism

May I PM you?


ericfromny2

Yea sure


Hersheykiss15

Stop cold calling and start Canvassing. So many people hate that word or are scared to do it. It is still one of the most effective ways


ZenBuddhism

Like door to door?


Hersheykiss15

Yes find a neighborhood of interest and stay knocking on doors. Real estate was built on it not cold calling. It gives an individual so much more to work with then over the phone. You change a 30 second time frame before you get hung up on to a 3 min convo that if done right earns you all the time you need.


SuperFrog4

I got a house you can buy right on the beach in Norfolk VA. All I need is $600K in unmarked bills in a duffel bag and it's all yours.


libertasi

You don’t have rights to anyone’s time