Posted by Rick, the Probate Guy on August 16, 2009 at 18:34:44:
Just figure that all buyers are going to want to inspect the property inside and out prior to completion of any deal.
Think it thru: If the roles were reversed and you were a buyer with real money, would you purchase property without seeing what you’re getting (or stepping) into?
As for meeting with sellers, here’s a tip: the way you may have found them could be that they didn’t know they were sellers before you contacted them!
When you’re starting in this business, you might need to meet sellers in person to maximize your effectiveness, however it’s not essential if you develop good negotiating skills and “give good phone.”
Meeting a seller who lives out of the area probably isn’t practical for most wholesalers, so you might as well learn how to use a telephone correctly and effectively. Most people that I listen to couldn’t persuade a property owner to open their mail, let alone convince them to do business with an unseen stranger.
I got tired of people missing appointments, being late, indecisive, problematic, etc. and made an executive decision in 1996 to stop EVER meeting prospective sellers in person.
That forced me to get very good on the phone and think thru all the issues well in advance and prepare my documentation with this is mind. This has saved me countless wasted hours which, if added up, probably exceeds 10,000 hours of wasted time avoided. I do pay well for other people to perform that service, along with notarial services, however I’m happy to pay the money and have my time and my life to spend as I chose.