Lizbeth: All right? Yeah. Okay. Yeah. Goodness. I have somebody that a seller I was talking to and has a property that currently has business in it, and he's evicting them when he wants to kind of. Yeah, go through it. How much damage they did. And he's adamant about the number, what he wants for it. So we wanted to maybe if you can have a look at it if. Yeah, what he's asking is reasonable and how I should formulate an offer to him.

Joe:  Well, let's role play this a little bit. Is it Lizbeth?

Lizbeth: Lizbeth.

Joe:  Lizbeth. Okay. Let's role play a little bit. Let's pretend you're the owner of the property and I'm the investor, okay? So I'm going to call you ring, ring. Hello. And you say hello. Hello. Oh, yeah. Hi, Lizbeth. This is. My name is Joe, and I'm just returning your call about your rental property there. You don't have a few minutes, do you?

Lizbeth: Yes. Go ahead.

Joe:  Okay. I'm just going to ask you a few questions to see if this would even be a property I'd be interested in. And I don't know if I'm your buyer actually, right now or not, but tell me a little bit about what's your situation, what's going on.

Lizbeth: The situation is that it is all electrical. I have upgraded it a lot. I head currently a family in it, but they rent. I have a hot water bill pretty I and not pay the rent for six months. And so now I wish with a lawyer I'm trying to evict them. Okay. And then. Yeah. Yeah.

Joe:  I mean, I just had a friend who, just the other day is telling me he spent $40,000 fixing his house up after the tenant trashed it, as. It's crazy. It's horrible, isn't it?

Lizbeth: Yeah. That is, it is not. It's not a good, good fix. I just fixed it the year ago, and there's still some minor things which I want to do, but, yeah, easily can get up to 30,000.

Joe:  Okay, well, how long have you on this property?

Lizbeth: About, five years.

Joe:  Five years. Okay. I'm sure you've gotten, you know, decent cash flow over the years, right.

Lizbeth: To see. Yeah. It's a good year.

Joe:  Yeah. And the property is appreciated a lot.

Lizbeth: Yeah. And currently the amounts. Well, the prediction is that within five years, they're going to double.

Joe:  Oh, so good for you. So why do you even want to sell it? Just keep it.

Lizbeth: Well, I what's on our property and, this one. Yeah. I mean, with the seller, with the tenants and tenants, they, kind of given me a headache. And now I have to put a lawyer on it. Yeah. He's not fine like this.

Joe:  All right, so what? What would you like to see happen?

Lizbeth: Well, for the right price, I would. I would sell it. I need to get the people out first. That will take at least ten days a week.

Joe:  Yeah. So. So how much is a rent for?

Lizbeth: OK, out of script? Yeah, I don't know.

Joe:  That's fine. I just guess a thousand bucks a month.

Lizbeth: I think about, 1300.

Joe:  Okay. So. And then you say that you haven't collected in six months, is that right?

Lizbeth: Yes.

Joe:  Oh, my gosh, that's like $7,800 in lost rent.

Lizbeth: Yeah. And I designed the house myself. I really fixed it up. So. Yeah. Kind of painful.

Joe:  Think so. But you're not in a hurry to sell a door right now.

Lizbeth: All right. So also, yeah, it's I mean, it's taking up a lot of money now. Yeah. Yeah. Property taxes, everything is going up. So you said I know, I don't want to get too much stuck on it.

Joe:  I don't know if I'm your buyer. I don't know if I want to take this kind of a project on. But if you thought about just listing it with a realtor, why don't you just put it on the MLS?

Lizbeth: Yeah, well, I need the cash, because, like I said, I also have, other property and. Yeah, yeah, I want to really, bring that on. Is, I need, I need, okay, I need money for somewhere.

Joe:  All right. So, you know, I'm not a retail buyer. If you want full price for, you should probably just, you know, fix the property, get the tenant out, fix the property up listed on the MLS. But I am the easy button. Really. If you just want to sell it quickly in 30 days, I can pay you cash. But what is the least you would take?

Lizbeth: 400.

Joe:  400. 400 what?

Lizbeth: Yeah, 400K.

Joe:  Oh then yeah, I don't think it's going to work for me. Is that the lowest you could go?

Lizbeth: Yeah. So I had an, assessor he assessed it for 388 and I got some about eight months, months ago. Okay. So he was inside the property, so.

Joe:  Yeah. What kind of condition is the property? And I'm sure this tenant's taking real good care of it, right?

Lizbeth: Yes, but the other is some small fixings. But that's not really like maybe 3000.

Joe:  Okay. So, like, well, what do you think it would take to fix the property up and get it retail ready.

Lizbeth: There should not be more than 7000.

Joe:  Oh okay. So how long has a tenant lived in there?

Lizbeth: They've stayed in there for, six months. They paid the first rent and then. Run up the bills with the water. When I told them that, then they said, well, they can't pay it and they stop paying. And we have been in, I know, for a battle since then, and now it's come to the point that the I need to kick them out.

Joe:  All right. Well, I'm looking at the property here right now. I'm in Redfin and I'm seeing similar properties that are currently on the market right now that don't need any fixing up that are currently for sale for 400,000. So, I mean, I'm sure your property is really nice, but why would I want to buy your property that has a tenant in there? It hasn't paid rent in six months. It probably needs a lot of updating and fixing up, but I can buy this similar property a mile away for the same price that doesn't need any work on it. And what am I missing something here.

Lizbeth: Yeah, I like I said, this property is, for electrical tests as I reported them. So in the winter you will earn money by the electricity. You don't pay utilities.

Joe:  Okay, well, listen, I'm running late to a meeting. I got to go here. What's your absolute rock bottom number?

Lizbeth: I really want the 400K for it.

Joe:  All right, so you absolutely will not go any lower than that. Okay, well, here's what I'll do. Let me let me look at my numbers a little bit. Okay. And I'll send you an offer maybe to a couple different options of something we can do. And if it looks good to you, let's talk again. If I send this to you in the next hour or so. Can we talk again later tonight or tomorrow morning?

Lizbeth: Yeah. That's fine. Well, I'll look forward to your offer.

Joe:  All right. So. And what's your email address?

Lizbeth: gpn247rei@gmail.com.

Joe:  OK, cool. Yeah. All right, so I'm gonna send you some offers. Listen, if I, if I can't buy it from you, that's. I'm going to help you do whatever I can. I'll give you the names and phone numbers of, like, five other realtors that can maybe help it list it for you, but, yeah, I'll get back to you. Okay? Okay. Thank you very much, Lizbeth. We'll talk soon. Take care. Bye bye.

Joe:  All right, so I have to go. Literally. I actually have a call right now, but I was just trying to, I was I the was I chasing her? Was I pretending to be this desperate, motivated buyer looking and hungry for a deal? Was I playing the reluctant buyer? How many questions did I ask? Or 20 or 30 of them? I don't know, I was trying to ask as many questions. I was not chasing her. I was playing the reluctant buyer. Like, why did you even what sounds like a nice place? Why do you want to sell it? Why don't you listen with an agent? I'm trying to find out their pain, their motivation, trying to just ask a lot of questions, offering to give them and for realtors to help them sell it. So that's what you guys should do when you're talking to sellers for houses or land, right? Do not act like a desperate, motivated buyer. You're the reluctant buyer and all your job is do to ask questions. Get them to come up with the number first. Try to find out why. Do they need to sell? What's going to happen if they don't sell it? Are they just going to rehab it and rent it again? So anyway, I got to go guys. Appreciate you all. We'll see you next week on this challenge right Joe mccall.com/offers take care everybody. Bye bye.