TRANSCRIPT on talking to sellers when you first meet them?

Thanks Paulawg for your kind comments, glad to know that the information helps. There is a really interesting market with manufactured and mobile homes, due to the fact that many of them that are not on permanent foundations are not considered real estate, and consequently are ineligible for any real estate financing. That creates limited choices for people looking to sell or buy, and can lead to some real opportunities for investors.
A great book on the subject is "Deals on Wheels" by Lonnie Scruggs. It discusses a variety of techniques. Notably, you can often pick these properties up for very low prices and offer them as seller financed arrangements that will pay you really well. I'm not sure that this is the direction you are heading, but just realize that there is some real money in that arena, as well as the potential to provide a service that people need and will pay well for.

You are welcome.

I will get on Amazon re:Deals on Wheels, thanks for the tip. Anything helps a "white belt" and I feel like a sponge right now. Properties are high in my area, even MH's but I know this business can be done anywhere.

P.

I appreciate everyone who weighed in on this post. I'm still learning as well.

When I first introduce myself to a seller I let them know I'M AN INVESTOR not an agent and I work with SEVERAL PARTNERS. I try to build rapport with them and at the same time I try not be be their best friend (You can't be their best friend and at the same time give them a low ball offer, THATS A NO)
Here is the script which I use for my sellers, actually I learnt this and got my script from a top user on DG.com. I twerked it and added some new things.

1)First of all I ask them for their name, phone, home #, email just in case the phone drops.

2) SOURCE: how did you find me (for instance a bandit sign or a ghost ad online you had placed)

3) Address and cross street

4) ASKING PRICE: I be like how much do you want for your house and how they got their sale price (they might tell you that's what it appraised for last couple of years, or next neighbor house sold for $xx or my friend who is an agent told this is what it is worth)

5)Vacant: I ask them if the house is vacant?If occupied, who's living there?

6) TELL ME ABOUT THE HOUSE: I be like can you tell me a little bit about this house? I never try to cut them off, I let keeping talking and take notes of the following
--# of beds/ baths
--square ft etc

7) WHY ARE YOU SELLING? I usually be like "wow it sounds or it looks like a beautiful property just what we are looking for, how come are you selling it?

REPAIRS: I ask my sellers , IF I BUY YOUR HOUSE, WHAT REPAIRS MUST BE DONE? If they answer "nothing" I follow up with "DOESN'T IT NEED PAINT AND CARPET?" Then I ask about the plumbing, roof, electric, kitchen, bathrooms, windows, doors, furnace, and air conditioning.

9) ASK WHO OWNS THE PROPERTY: Don't be surprise the person might be the attorney or sister or brother.

10) LIENS/ ENCUMBRANCES/ MORTGAGES:- I never ask them how much do you awe on the property. When I first started on DG.com I usually ask them how much you awe and the sellers backfired at me telling me
-Its not my business or its irrelevant to me. So a great way which I have learnt to avoid this is to ask them "WHO GETS YOUR MONTHLY MORTGAGE PAYMENTS"? (we're using psychology with these sellers, you see!) If they hesitate, I tell them I'm not asking you for your bank account or personal information. I let them know I have relationship with lenders and mortgage companies which could be a big factor in my decision to buy your property..
-I ask for monthly payment -Does it include taxes and insurance (in other words is the seller payments escrowed) --interest rate, fixed or adjustable --when did the loan start ---

11) I ask them how much do you think you owe or how much do you think your balance is?

12) I ask them how long have you owned this property?

13) I ask them is it listed with a Rel estate company? If yes, how long?

14) I ask them do they have other properties which they would consider to sell as well?

15) would you consider owner financing?

16) I ask them "If I offer you cash in 2 days, whats the least amount you would consider or accept? Then I ask them "IS THIS THE BEST YOU CAN DO?" I let them know they are in competition with a lot foreclosures in their area. I tell them "Meanwhile, I want to create a win/win transaction for the both of us."

IN CONCLUSION: I be like "your property seems to be a great property in a nice neighborhood. am I correct? I'm still interested, let me sit down and discuss with my partners on how we could work this out and I will get back to you in the next couple of days and let you know if it is something we would like to see or put an offer on." Sometimes my next couple of days could be the next hr or the next day. I used psychology when interviewing my sellers. I could tell if they are motivated or not. Interviewing a seller is all about having a lot of self confidence in yourself which is the most important tool.

Hope this helps Quentin2112

Goodluck in your investing

Thanks TC for sharing your interview approach, very helpful.

For all, let me share with you a little experience from when I first started as an investor. I was provided with a list of questions to ask in interviewing people over the phone. I quickly discovered that this was a list of "qualifying" questions, which also meant that it was a list of "disqualifying" questions.
Well, thinking I was pretty smart, I realized that our job was to narrow down the list of people who are not good candidates. So I got really good at it. In fact I was such an expert at eliminating people that I eliminated EVERYONE! The problem was that I had no one left to work with. I kind of realized that there is no perfect candidate, just people with problems who might benefit from our assistance.
I was told by a very wise man that the telephone is for building a rapport and setting an appointment. That's a very different way of doing things. But I was told that on the telephone, you lose a good portion of communication that comes from facial expressions and body language. I changed my approach, and started having short conversations and scheduling face to face appointments.
Now you are welcome to conclude whatever you like from this little story, but I began to have much greater success by meeting directly with people, not having a whole lot of questions to ask, but just asking open-ended questions, like: "Why are you selling?" and "If I could help you solve your property problems, what would that look like to you?" and "Can you share with me a little bit about your financial challenges?"
I am simply mentioning here that if you can arrange to get together with a seller in a face to face meeting, preferably at the property, you are likely to accomplish a lot in a very short time. Just be understanding and give them an opportunity to talk, and you listen carefully. I have mentioned before in this forum that the solution to every problem is contained in a complete and clear understanding of the problem.
Once again, compliments to TC, these are some great questions, and will also work in a face to face interview.

Coach Wall and Karen,
I just wanted to say it again. You have both heard it before. I have been reading this thread and your words of wisdom, knowledge, and expertise are so inspirational. you both share stories that everyone needs to hear whether we need to or not. It makes us all stronger individuals when we hear others fears and successes. Everyone has to start somewhere. It is like a ladder. You have to take the first step to get out of your comfort zone and continue to climb one step at a time until you reach the top. you both are great and i love reading your forums. keep up the great work.
Sincerely,
Laura

Thank you so much for your note! You have no idea how much that means when someone expresses that the help we put out there really does matter!

This whole process is definitely like a ladder. Except there is really NEVER a top rung! Even at Dean and Matt's level there is always something else to learn. The market is always changing and that is actually what keeps it all so intriguing. We wouldn't really want it any other way!

Best of luck to you! Now get out there and make your luck happen! It is never JUST a coincidence!

Karen

Laura, first of all, thank you for your very kind words, and my compliments also to Karen and others who are so willing to share knowledge and experiences.
As a general comment for all, I think that my comments indicate that my style is very much hands on and personal/face to face. I may not end up with as many transactions as others, but my closing percentage is very high, I believe, because: A) I learn as much as possible about seller's needs, wants, and desires as possible whenever I can; B) I do resubmits on offers that were rejected if the property remains on the office for about another 12 days.
It is not my intent to try to persuade anyone to adopt a particular style. Many people are very successful and do many deals using mainly the telephone, and they are probably more efficient with their time than I am. I'm fine with that, and you will have to decide what style or approach works well for you.
I was taught that real estate is the "People-type" not the "Stereotype" and that concept has worked for me. I'm only here to solve as many problems for people as possible. The greatest tribute I have received in real estate has been from people that I was not successful in doing business with referring to me their friends. I think if you can do a good enough job that it is respected and valued even by those that you could not transact with, that is the measure that I aspire to achieve. I wish each of you success, not only in your real estate deals, but in finding your own personal best ways of dealing with people and solving real estate problems for them.

wisdom and guidance.