Student Success Stories – Jerry Owens

Hello,

During my time at the Masters Retreat, I had a significant development. Ms. Ann reached out to some of the leads, and one in particular stands out as a promising opportunity. She skillfully negotiated for seller financing without any down payment. However, the homeowner, Ms. Brittany, mentioned that she needed to consult with her husband.

Upon my return and several attempts to reach her before diving into the Commercial Boot-camp, I left numerous messages. Surprisingly, when I called from my business line, she answered. Initially, she was somewhat hesitant, expressing her husband’s concerns and their preference to sell the property outright.

In the past, I might have rushed through the conversation and considered it a missed opportunity. However, this time, I took a different approach. I listened attentively, empathized with her perspective, and gently addressed any misconceptions. Most importantly, I explained the current cautious lending climate and highlighted potential challenges with traditional banks like VyStar. Moreover, I let her see the genuine intention in my heart.

As our conversation progressed, she began to inquire about when I could visit the property, even apologizing for the property’s cosmetic issues. She went a step further, saying that out of all the individuals she had spoken to, she was only willing to entrust her parents’ home to me.

After personally inspecting the beautiful property, I reached out to her once again. She continued to emphasize their preference for an all-cash deal. I acknowledged her concerns and asked for her thoughts. That’s when she proposed lowering the price by $10,000 to $165,000, with the condition that I provide $10,000 as the down payment.

I clarified that our usual practice involves no down payment. She understood but expressed potential financial needs in the coming months due to possible government furloughs affecting her husband’s income. I assured her we were in the ballpark, albeit with no guarantees regarding the $10,000. I proceeded to draft the agreement, with a note that the numbers might need some adjustment.

Today, I’m working on finalizing the agreement. This property has excellent rental potential, estimated at around $1,500 per month, while her immediate requirement is approximately $850 ($600 for the HELOC and $250 for her expenses). The positive cash flow amounts to an impressive $700 per month! Although I may need to allocate part of the funds from the NROD I’m anticipating, which could be around $20,000 for a house valued at over $200,000, there’s a delightful upfront pocketing of $10,000.

I must say, I’m deeply passionate about this business, and opportunities like this one only intensify that passion.

Sincerely,

Jerry Owens