HFHQ 21: Approaching and Dealing with Sellers – Sharon Vornholt (Part 2)

HFHQ 21: Approaching and Dealing with Sellers – Sharon Vornholt (Part 2)

You can hear Part 1 of this interview here.

Sharon Vornholt from Louisevile, Kentucky is a master marketer, wholesaler, and really understands the probate and absentee owner process.  In part 2 of our interview Sharon shares details on how she connects with and talks to potential sellers.  She also explains her process for getting properties under contract and where she finds buyers to wholesale her properties to.

Have any questions for Sharon or myself? Just post them in the comments area below! And if you like what you hear, be sure to click here to subscribe in iTunes. And while you’re there, why not leave us a review and five-star rating?

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Show Notes

In this episode we cover:

  • Sharon’s process when on the phone with a potential seller
    • Confirm phone number and name
    • Have them describe the property and conditions of major systems (heat, electric, etc.)
    • Have the kitchens or baths been redone in the past 7 or 8 years?
  • Understanding a seller’s motivation for selling the house.  “What are you looking to get?”
  • What Sharon does when she visits a house
  • How Sharon draws up her contracts and initiates the closing process
    • The type of contract Sharon uses
  • Why you shouldn’t get caught up in the probate process
  • Where Sharon finds her best buyers
  • Why marketing to sellers is a long-term process and you need to stick with it.

Memorable Quotes

  • “Try to find out what their motivation is.  It’s always money, but there is always something else” ~ Sharon Vornholt
  • “I use a simple one page contract that pretty much anyone can understand” ~ Sharon Vornholt
  • My best buyers were found in my REIA group” ~ Sharon Vornholt [Tweet this!]
  • People think you need a million buyers. You don’t.  You really only need three.” ~ Sharon Vornholt [Tweet this!]
  • Marketing is a long-term strategy.  Direct Mail is a long-term strategy” ~ Sharon Vornholt [Tweet this!]
  • 90% of your deals will come about at your fifth mailing or beyond” ~ Sharon Vornholt [Tweet this!]

Transcript

Click here to Read and Download the Transcript for Episode 21

Links and Resources

Like what you hear?

If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! Head on over to iTunes and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. :-) Click here to leave a review and rating If you have any questions or comments about this show or it’s contents, please post them in the comments area below and I’ll be happy to answer them!

Image Attribution: By Tony Wills [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons

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