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.
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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.
- “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!]
Links and Resources
- Innovative Property Solutions, LLC
- Louisville Gals Real Estate Blog
- KREIA – Kentuckiana Real Estate Investors Association
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Image Attribution: By Tony Wills [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons