Ayo, my guest, has had great success because he is good at finding motivated sellers. He’s been doing a lot of lease options but uses other strategies as well. He’s going to share some of his deals with us.
Ayo got training from me, along with some others, and he recently got back to me to share news of his successes. It’s so nice when students do that.
Ayo is from Brooklyn and the Bronx. After college and grad school, he moved to the suburbs of Philadelphia and started investing using the BRRR method… buy, renovate, rent, repeat.
Ayo and his wife wanted to quit their day jobs and work from home, and real estate investing was the way to do that. They have systems that automate the business, have very low overhead and Ayo is closing a deal every 5 weeks or so.
Ayo generally starts off with cash offers and the intent to wholesale. If the seller doesn’t accept the cash offer, he shifts to lease options.
Ayo and I both have found that a generic marketing message opens the door to more property owners. Rather than offering lease options, just state “I want to buy your house”.
Remember—you can ask questions without sounding like you’re cross-examining the prospect. Be conversational, follow the stairsteps, and pull away once you can tell a deal’s not going to happen.
During conversation(s) with prospects, propose numerous ways to tackle their situation today.
And don’t forget—talking to prospects is a numbers game. Call a minimum of 5 a day, be friendly and ask why they’re selling. Let the prospect talk himself/herself into a deal with you.
I also have a special treat today as Claude Diamond joins the podcast and explains the stairstep sales system he uses, which includes setting expectations about the conversation you’re about to have. Listen to hear the rest of the steps and my conversation with both investors.
Listen and Learn:
- Best question ever… “What’s your situation? What would you like to see happen with the property?”
- When talking to a potential seller, it’s important to listen more than you talk.
- Ayo uses Deal Machine when he drives for dollars in ZIP codes where other cash sales have been made.
- If the economy goes down, it doesn’t matter because prices go down and creative financing is in demand.
Mentioned in this episode:
- Joe’s podcasts on iTunes: RealEstateInvestingMasteryPodcast
- Joe’s free book: WLObook.com
- Joe’s new course about getting leads: ZCodeJoe.com
- Subscribe to Joe’s YouTube channel
- Join Joe’s Facebook group
- Skip Tracing company Ayo uses: BatchSkipTracing.com
- Ringless Voice Mail company Ayo uses: REIRail.com
- REI social network: BiggerPockets.com
- Book recommendation: Never Split The Difference (Ayo uses audiobook for inspiration.)
- Find Claude Diamond: ClaudeDiamond.com
- Find Ayodeji Kuponiyi by name on Facebook, LinkedIn, and Instagram
- Deal Machine app: Download app from Apple Store or Google Play
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