This is the third article in a series regarding the multiple text messages I receive every day from people seeking to build a relationship. Most of them are coming from what I refer to as “one-and-done” buyers. They are trying to contract to buy or actually buy a property for the purpose of quickly flipping it. Their whole marketing scheme is built around one-and-done and move on to the next deal. I suppose in the quick-turn world where volume matters, that might be acceptable, but in the world in which I work and practice, relationships really matter.
Building a relationship between the buyer and seller is what gets you to the point where you can begin negotiating favorable terms for seller financing so you, as the buyer, can provide an opportunity for the seller to do something with the money from the sale rather than stick it in the bank and maybe earn 1% on it (and that’s only after it has passed through the hands of the IRS and been taxed in one fell swoop). Instead, why not consider building a relationship and finding a way to structure a win-win deal that works for the seller as well so they can actually earn interest on money they would otherwise be paying in taxes?
My previous sentence is a less-than-artful expression of something my friend Pete Fortunato shared with his audience at an event I attended. It was definitely something that made me stop, write it down, and start using it in my outgoing communications with prospective sellers.