This one is kinda interesting…
So we got another bird dog referral deal. Which means there is no ad, no sign, no one knows it’s for sale…
… except for a select few that the owner told about it. It’s in a Senior park where we’ve done 4 already.
We’re giving a $500 referral fee if someone (anyone – resident, manager, contractor, etc) tells us about a home for sale that we buy or a buyer for one we have for sale. Not just a name, we have to actually get the deal. That’s approximately a month’s rent, so it gets attention.
This seller, according to neighbors and park manager, is rarely seen. Goes to get mail at 3am, doesn’t answer the door, pretty reclusive. Her kids, live elsewhere and recently had to ask the police to do a “wellness check” because she won’t answer the door, phone and doesn’t return calls. That happens in senior parks.
So I went by 6 times, knocked on the door with no answer and left 2 voicemail messages. No response. Didn’t want to act like a stalker …
There’s an old saying in sales that the “Fortune is in the Follow UP!”
So I wrote a letter (in large font – senior park right?). Since it’s a reclusive LADY, I didn’t want to make her nervous so said “I understand from your neighbors that you may be selling your trailer. MY WIFE and I are interested and are already approved in the park.”
Notice I didn’t say she was reclusive, just that she probably wasn’t home. See letter below…
Note: I did not say I was an investor. Just short and sweet that I wanted to buy her TRAILER.
NLP Tip – Trailer denotes less value when we buy. Home denotes more value when we sell.
Also since I heard from neighbors, that she was reclusive, I mentioned I would stop by with my WIFE so she isn’t nervous about a stranger in her place.
Well, she finally called and after several more stops with not answering the door again, Dixie and I finally got to see it.
1400 sq ft 1974 2 bed/2bath – basically in good shape but needs a lot of fix up work. Roughly $10k-$12k.
Caution – units older than June 15, 1976, can have some items that may need updating. Plumbing, electrical, windows and newer than 1976 fire code items. Sheetrock around the heater and water heater compartments and open cook tops.
But it has an awesome basic kitchen with a center cook island and metal vent similar to one we did before that came out excellent. I say basic cuz it needs TLC.
TLC is a real estate term that stands for Tender Loving Care but actually means “HELP! NEEDS LOTS OF WORK!”
Kitchens and bathrooms sell homes and manufactured homes.
This is the similar kitchen we did before… This was Dixie’s first deal on her own. Nice?
So we asked, what she was asking? Never, how much are you selling this for? NO! What are you asking. Meaning the price will go down. She said “$18,500!” We’ve paid more if it was newer or better shape but that’s a lot needing all the work.
We like the park and it’s in town so will draw a higher price. So asked “If I could write you a check for all cash today, what’s the very best price you can give me today?”
She said “Not today I still have to move!” Haha!
So, after justifying repairs and holding costs, she eventually came down to $16,500. Still higher than we want but as in other deals we could immediately sell it for $25k and not touch it.
Once she has moved, and we close we will give the neighbor $500 for the referral.
She wants to move by July 31 and we’ll be on our way. More as we go!