Sometimes as an investor you come across a property with a lot of competitive bids on it.
When Jenna found this 4 bedroom 2 bath story home in her home town she faced exactly that situation. The family of the original owner of the property had already received multiple offers on the property, but still hadn't accepted one.
That didn't deter Jenna so she started the process of evaluating the property and eventually put an offer in on it. As she talked to the family, she started to realize that they still had a lot of possessions left in the property and quite frankly, didn't know what to do with them.
So Jenna started to change the way she was talking to the seller. What did she change?
She used a super simple, yet powerful phrase that is very important to sellers that find themselves dealing with an inherited property;
"Simply take what you want or what's important to you and we'll take care of the rest."
She then went on to inform the seller that she works to recycle, re-use, or donate a lot of the items left behind in properties when she takes ownership.
This is key phrasing to use when dealing with families of deceased relatives. Other investors putting offers in on the property had said that they would throw out the items or that the family had to have it empty before they would take possession of it.
Jenna was able to convince them that not only her offer, but her care for their possessions was the best they would receive.
Now that they have closed on the property Jenna and Adam will tell you the story and will take you through the property as they talk about some of the repairs they are going to do.
Jenna Buys Houses; Revamp Realty
Terms used in this video:
Features mentioned in this video:
Key take aways:
- Keep some of the old charm in more historic homes/districts
- Recycle, re-use, and donate what you can to give back to the community
- Use the words, "we'll take care of it" instead of, "we'll throw it out for you" or "it needs to be cleaned out."
- Keep curtains up until the last possible second to help secure the property
- Don't replace what you don't have to. If it's in good shape, leave it.
- Some banks won't finance a property with knob and tube wiring
- Check with your local code
- Know your market and whether or not a change will add to the value of the home