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Lease 2 Purchase Knowledge Base

Welcome to the Lease 2 Purchase Knowledge Base. This page contains helpful user-submitted articles and tips about specific real estate investing topics. Let's help eachother out and share the Knowledge!

Cold Calling FSBOs

By Robert from Chat Board

Q: (by Robert)

After taking a very informative course on L/O's I find I'm reluctant (sounds better than 'scared') to make that first call on FSBO ads and, so, haven't put my first deal together - anybody else 'been there'?

My plan is to hire/educate a stay-at-home mom or 'temp' to do the calling/screening for me. Can some experienced L/O investors suggest a mini-class I might give her?

Actually, all I want to know is if the seller is motivated and would consider selling to me on terms - my terms. But how would I keep my 'mom/temp' from (1) keeping the deal, herself and (2) not actually calling but saying she did just to get paid. Thanx for ANY ideas as I REALLY want to move from my inactivity.

A1: (by Mike)

For me, it's all about what you wear and where you do it. Casual atmosphere puts me at ease when calling about our rent to own deals. People can sense the calm I feel.

A2: (by Rob)

I had the same problem. I would feel like a failure because I had a ton of knowledge to put these deals together, but no guts to pick up the phone.

So I did.

And the first call was to a motivated FSBO seller who wanted to go to Florida. (House is in MA) He was open to the Lease Option concept but wanted too much money.

By the way, the house was a rehab that he started but didn't finish. So I managed to find a bottom dollar price he would accept for a buyout, my brother put in an offer 10K less than that, and now we stand to make approx 90K after we resell the house, which we will roll into another rehab project.

So you never know what you will find if you don't call.

Just remember, the call will only take 2 minutes, it's completely anonymous, and when you do find a motivated seller, they will be glad you called! Good luck! It will get easier with each call.

A3: (by Rob)

No pain, no gain.... make the calls. If I were training you, I would require you make at least 2 hours of cold calls per day from your local paper and/or

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Comments (1)

By Johnny from Palermo, ME on 10/31/05

Good stuff! Thanks!

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