Seller Called Back on My Offer – How to Close the Deal (CFFL 0143)

Seller Called Back on My Offer - How to Close the Deal Jack Butala: Seller Called Back on My Offer - How to Close the Deal. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening. Jack Butala: Jack Butala here for Land Academy. Welcome to our Cash Flow From Land show. In this eight part series, Jill and I talk about what to do when the sellers begin to start calling you back based on the offers that you sent them in their mail to buy their property. In this episode, it's eight of eight. It's an eight part series. This is the last one. Jill is pretty happy about that, I think. I'm not too disappointed either. It's called "The Seller Called Back On My Offer, Now Let's Close The Deal." Jill, good show today. It's the final episode, final edition of what to do when the seller actually calls you back. Before we get right to it, let's take a question from a caller like we usually do. Jill DeWit: Okay. Angel from Orlando called in and asked, "I'm 19, in college and would like to purchase my first property in a few years." Jack Butala: Yeah. God, wish I had started this when I was 19. Jill DeWit: Oh my goodness. You're on the right track, Angel. "Is there any advice or tips that I can be given to gain knowledge and better prepare myself as a real estate investor in the future?" Jack Butala: I love this question. Jill DeWit: Great question. Jack Butala: I answer this question in bigger pockets personally, all the time, or a different version of this question, probably five times a week-ish, maybe more, I bet even more so I'm pretty qualified, I think, to answer it. Here's the answer. It's a three-step process: education; number two experience, get some experience from somebody who's got a ton of experience already and who appreciates the fact that you're there; and then number three, do some deals on your own or better yet, do some deals with the person where you got all this experience from and then ultimately do some deals on your own like Jill and I do every single day. It's pretty simple stuff. What I see in real estate, for some reason, I don't know why, is everybody thinks step one is to find a piece of property and so they don't get any education, they don't really reach out like you are correctly doing here, Angel, reach out to somebody who's got some experience to say, "What's the best way to do this because I don't want to waste my time? I don't want to go find a house and then ..." I see a lot of people go find a house, I'm not sure why houses are the first place they look, find a house and then they try to, in their head, make the deal work instead of really sending a million ... What we do is send a tremendous amount of offers out for well below retail value and then let the sellers come find you. Jill DeWit: Exactly. Jack Butala: And then it's like, "Man, I'm running all the way to the bank saying, 'I hope the seller doesn't change their mind,'" because it's such a good deal, instead of the other way around where you go out and find the deal and then you sit there and convince yourself over and over again that it's a good deal. If you don't think that it's a great deal like jumping around great, don't get involved in it, but please get educated first. You'll learn all that stuff through education, then you can look at some real estate as number two. Jill DeWit: You did say align yourself with somebody with a mentor or something in there? Jack Butala: Mentor means a lot to different people. Jill DeWit: Right. You know where I'm going with that. It's like I just ... It's helpful if you are aligned with someone who has some transactions, who can help you with some ... Jack Butala: