Speaking with Deal Sourcers – LIVE CALL!
Hello. This is Samuel Leeds and in this video I will show you how I talk to the deal sourcers to make a deal. You should learn and then implement exactly like I spoke to them. As they have got deals so it is good to buy from them. Let’s see now.
Evaluating the Prices
I asked him how he is doing then told him that I am interested in a deal and explained my situation. I told him about the properties to which he said I think we are talking about price and the seller is giving $450 a month per room and it will have only two tenants in that and we are paying $500 and $520. Then I asked what he thinks about the situation that they are paying $240 each or you can say $450 for the two. He finds it expensive. He said he offered $220 to which he said no. But if collectively people will say so, maybe it will work.
I agreed to him that the seller wants to sell it anyway so he will say or convince us but the thing is, it is asking for a lot of cash if we would mortgage that. And after that if the value got down then our all time will be wasted. What do you say about the brick and mortar evaluation? It will be low generally and it can be forced on the basis of potential commercial valuation. He agreed on saying five beds are not going on this price because the value is between $200 and $250 on which people are selling. It’s quite an average price which people can afford.
Find the Potential Rent Realistically
Now if we buy it for $240 each which is according to him we could get it on lower price than that. I asked him about the rent. Let’s say $450 per room and its five beds. He said at the moment two are available as other rooms are not furnished yet. So they are paid $520.
We are looking for 200 grand properties, I told him. He said to me to send a screenshot filled with details and that it will be a block of six flats. It is about $450 and I can get two HMOs monthly rather than getting the same value.
Housing association needs to pay the bills and maintenance so it can have a good profit margin. To which I asked what would be the guarantee of each year renting out if they want a million quid? He said the guarantee is the flats pull in 84,000 to 86,000 and there will be no other cost except the mortgage and insurance with a brand new only being renovated. You don’t really need to put down a 40% but 20% deposit which is amazing. It will collectively bring around 86,000 a year. You must have two to three choices like if one doesn’t work for you then you can go for another. He sent me the details on my personal email. Then I asked him about when I will have a virtual viewing of that. He said we can get the HMOs today and I have asked to see if you could postpone by around 1:45 pm. But at three O’clock we have to postpone it and wait for him to say yes or no. He said he will put down all the groundwork to a lower price and he has my email for more cool deals to send.
Be Property Educated
So this is it. If you don’t know what you are up to then do not pay the deal sourcer. You must have knowledge and don’t be clueless. You are paying them for what they bring to you. I am paying them because I don’t have much time to drive and view everything but to get authentic deals from them which I will go through and if it fits to the requirement then I will get a deal. We need to build a good relationship with a deal sourcer or an agent to know what they are doing and also what you are. If you don’t know then get educated about it. Hope this video helps you in many ways. See you next time, press the bell icon for more videos on my YouTube channel.
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