065: The Six Pillars to Profits Pillar 5 - The Secret of Getting Deals Accepted

Sometimes, it only takes one deal to become super wealthy in the multifamily space. Today, we’re talking about Pillar 5 - The Secrets to Getting Your Deals Accepted, part of the Six Pillars to Profits series.

How can you masterfully try to get your deals accepted? I share tips and tricks to get brokers to believe in your deals. I’m teaching you how to make sexy cashflow.

Topics on Today’s Episode:

• Broker Mentality: Most brokers are motivated by Hip Pocket National Bank; they’re trying to make a paycheck, but work for free until you close
• Create relationships with brokers and migrate your way to their short list
• Notify brokers when you close a deal, and operate from a place of integrity
• Site Inspection: Do a fact-finding mission; go visit the dirt to and talk to property manager and maintenance person
• What to include in and how to submit a letter of intent (LOI) packet to broker
• Take time to build your team, and be willing to be a partner and share profits; don’t get greedy
• Bios and credibility kit point out that you’re a big deal; we’re good at what we do
• Create version of Proof of Funds for broker
• # of Business vs. calendar days to use in Purchase and Sale Agreement (PSA)
• Don’t rush into deals, speed kills; don’t suffer from shiny object syndrome
• Purchaser’s performance is conditioned upon purchase approval of required items and information
• Make sure they receive everything and sign off on it before starting inspection
• Get deals accepted by seeking price guidance from broker during Call for Offers
• Best and Final: I want this deal! Put finishing touches on deal via price and earnest money changes; be professional when providing additional information

Links and Resources Mentioned:

• 064: The Six Pillars to Profits: Pillar 4 – The Secret of Getting Deal Flow
• 005: How to Get Your Offers Accepted By Brokers
• Kahuna Boardroom
• Kahuna Investments - Our Process
• Robert Kiyosaki
• Colors

Quotes:

“You don’t have to do a crap ton of volume to be like super wealthy in multifamily investing. All you need is one deal.” Corey Peterson

“I’m teaching you how to make sexy cashflow.” Corey Peterson

“Most brokers are motivated by...Hip Pocket National Bank.” Corey Peterson

“I owe it to my investors to do this work. I do not rush into deals. You shouldn’t, too. There’s plenty of deals out there for us all.” Corey Peterson

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.