“It Helps to Control Your Emotions!”

When you are first starting your real estate investment venture, it’s filled with very different emotions.

Since you are new and there’s lot’s of things you don’t know, you can be apprehensive at times.

You are also excited and happy about the prospects of putting together your first deal. The potential for success (and dollars) keeps you going.

If you are working in Probate you mail out your first few letters and then you get a call.

You set the appointment to view the property; you meet with the PR; you inspect the property; everything is going great.

“This is just as easy as Ron said it would be.”

Then you ask the PR what he/she needs for this house (be sure to always ask the PR what they need, don’t volunteer your offer first) and the number they give you is totally unrealistic.

OH NO! you say. What’s this person thinking?

They are asking the market value from 4 years ago. Don’t they understand that houses have dropped in value over the last year or two?

The next thing you do is write me a note asking what kind of advice I can give you to help the PR get realistic.

Often times my answer is “Not very much!”

Now I am not trying to be a wise guy but sometimes the PR is just not in touch with the market. They are convinced their house is “different”.

If you can find comparable sales within the past 3-4 months that will certainly help your case.

But generally my answer is “Move on!”

Here’s the reality of this business. You cannot change other peoples thinking; the only thinking you can change is your own.

So to try to present logical facts and argue to show the PR what the house is really worth can be very frustrating and unproductive.

If you have presented your case and you are getting no where, just move to the next deal.

That’s why it is so important you be very, very consistent in mailing out letters.

Volume of letters is key in this business.

You need to have several prospective deals working all the time because sometimes the one you are sure will close, doesn’t.

But if you have other deals in the works, you will be less disappointed.

So just move on. NEXT!

But also remember this story.

I once closed a deal eleven months after I first met with the PR.

He laughed at my first offer but because I was polite and respectful, he remembered me and eleven months later he called me and asked me back and we struck a deal.

He actually said he had saved my letter “on the refrigerator”
because he liked me.

Love those little refrigerator magnets!

So I guess the old adage “Don’t put all your eggs in one basket”
certainly applies to real estate investing.

And so does “If you throw enough mud on the wall, some will stick!”

Mail those letters. Mail those letters.

Need more information about Probate Real Estate investing? I’ve outlined it on my website.

http://BuyProbateProperty.com

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