Transcription
text, but having conversations. I'm at 19 for the week. So, I'm hopeful that I can get, you know, two or three more by the day's end and, you know, be above 20 for the week. About 20.
Okay, cool. Um, what was like the consensus of your conversations this week?
So, just a bunch of people on drips. Um, price points were just not um not aligned, you know, just Okay. One above market.
Okay. Gotcha. There's a lot of people wanting above market. Uh hold let me Okay, cool. I'm gonna wait for a couple of minutes for other people to come in here. I think I need to make a Loom on how to on how to navigate the Discord. So, I will be doing that.
Gentlemen, how's everybody doing?
Feeling good. Feeling good. Good to see you guys.
Okay, cool. Um, all right. What about you, David? How's the week been? Um, how have things been going?
Very good. Very good. Two good leads, two really solid leads. I've been speaking today with your with Shane. He spoke very highly of you. He's a good guy. And want me to pull up the pull the deal?
Yeah.
All right. And then we'll do some role play here when uh other folks come in.
All right. You got my screen?
Yeah.
Okay. So, 155 acres. It's four 40-acre properties and this is 5 acres designated to to a water tower. Gentleman by the name of Ed. He lives in a different county over. Inherited the land seven, eight years ago. Couple of structures over here, one of which is a house, I believe this one that his niece lives on. There's uh a barn and a shed. And he said the other buildings are decrepit. Okay. 100 acres of tillable land that he currently rents out. And he said the cash flow isn't great. I didn't ask him exact numbers, but he said it's not great. I learned what a CSR2 is for Iowa, which is the the you know the the ranking of the soil quality. I spoke with the the land the the owner; he did not know off the top of his head, but I spoke to Shane who mapped it out and he said it's something like 45, which is pretty low. The owner wants a million for it. He said the land was inherited. It's his name is is on the title, but he kind of splits it 50/50 with him and his sister. And it's the the sister's daughter, the niece, who lives here. The sister lives in St. Louis. Doesn't live anywhere close. And as I said, he wants a million, which works out to just shy of 6,500 an acre. Uh Shane said that would be on the the the higher end of what you would get for it.
Yeah, that's what I thought.
Yeah, I I told him initially that I would probably offer around uh 6,000 an acre and he did a so he did a very good job of sussing me out. I had some other people that I was talking to in this county. He wanted to me he wanted to know their names. I'm glad that I got my website set up. He he asked me for that, too. So, right, working on my phone skills, too. I'm definitely a lot I've been making improvements, especially since my mess up last week, and a lot calmer, a lot quieter, which you could tell is kind of hard for me, letting him do the talking. And it was a very good conversation. I talked to him today, asking if he knew off the top of his head the CSR2. He didn't. We're going to we're going to I I learned through Shane, but I'm going to want to obviously check in with the owner uh next week. And my question is just really how how I should play it and and what mechanisms I should use to bring it down. He's not desperate to sell. He himself is a farmer. He's got 600 acres as I said a couple of counties over. Um but there's a lot of potential here. He's so even though the land the the tillable soil isn't so great, all woodlands here, he said lots of deer come in from the woodlands. So a lot of potential for a hunting property, especially if we could get all four. Oh, and then he said he wasn't sure if he wants to sell all four or just these three and let his niece still still live on the house there.
Okay. So, a couple of things that I would say at first, um, you want to have him, you told me that he's not making a lot of money from this one. Is that right?
Yeah. He said, uh, he said he's getting rent on it, but his exact words were, "The rent's not great."
Okay. Yeah. So, then you want to use that the rent's not great, you know. Hey, why don't you just liquidate this one and, you know, put it into other assets that you might be interested in in purchasing. If you're not generating that much income on this, it's probably it probably doesn't make sense for you to to to just hold on to this if you could just get a pretty large liquidity event pretty quickly here. Um, that's what I would say. Um, I'd get it. I I'd say anywhere from like 800,000 to 875,000 will put you in the game. If at 6,000 an acre, that's that's too that's too high in order to sell it. What did Shane say? He thinks it could sell for on the market.
He said he said on the high end, 6,800 an acre.
Yeah. He's also and I've also been I asked you to comp it when it came in I think yesterday or on Wednesday. Says that there's comps that are as much as 6,900, as little as 5,300. I don't But he said 5,300 was most likely private sales, not on the market. Shane is optimistic. He thinks that either in auction or splitting it up or using as a hunting property. So that mo and whatever and I had the the deal fall through last week and I'm hungry. So what So what about these other three parcels?
He wants to sell all three of these.
Yeah. He said that he would want a million for four and then he says it's just three 75 sorry 750,000. So he's I don't think he's married to that number. I couldn't tell if he was just playing hard to get. He said if you can offer a million there's a very good chance that I would consider but as he's explained to me the situation and then with the soil composition I mean a million would be definitely over asking for the for the state of what it is now.
Yeah. I was thinking 900 for for all four. I still think that's too much.
You still think that's too much?
You got to think about the exit. I mean if you're you'd have to be aggressive in your exit to sell this quickly. So, I' I'd be wanting you to list this for around 975 to a million. So, you got to think if you're at 9 900, it's not really a lot of room there.
Not really.
Um, after fees and expenses and everything like that. What I would do as well is see this is a it's a big one for your first one, but yeah, you got to knock it out of the park. So, what I would say is look at what some smaller lots are selling for in this area. Can actually do it right now. Um, I I got it right here somewhere.
Oh, you already looked it up.
Yeah, I've been Yeah, I've been looking at other ones. This I'm looking at two. Yeah, this is the county van. For example, what about a 10-acre lot? What is a 10-acre lot selling for in this area? Here's 13. I saw this one. The soil's not great here. 13 sold for 65. Yeah, but this So, this is not something I'd want you to do on your first deal is and split this up because that would take months. You know, like what I want you guys to do is be able to build up cash flow first and then we start tackling on these bigger ones. So, the number one thing we got to figure out is like, okay, how does this work as a flip? Okay, that should be Here's 40 that went to where is key? 40 went for 6,800 an acre. How quickly did that sell? From what I How quickly did that one sell?
One second. Let me get her up. Now we got some more people in here. I'll uh we'll get some role play going as well.
This 40 acres sold two weeks. A little bit more than two weeks.
Two weeks.
Yeah. This was in this was in November actually last year.
It's really quick. Really fast.
So, okay. But yeah, things have been hot and I think people there know it. I think that's why this gentleman said, "Oh, I'm sorry. I was looking at a different property. Here's the 40 acre. Let's see this. Oh, two days back in back in uh December. The things haven't been flying off the shelf.
Yeah, but what about the price point of a million dollars? That's what we I want to look at that before we move on.
Absolutely. Um half a million with structure. All the ones that I saw here that were over here's Is half a million enough of a comp or we need higher?
No, it's got to be closer. Like so that one 925 that's closer. This is a This is a comp that I was looking at that Chris sent in the in the group. It's split by the highway. That was the only thing. And this one also has a house on it.
Yeah. But this one sold in a month. A month last uh last year at this time.
Okay. Yeah. So action steps would be to talk to the seller a little bit more. Um we want to see if we can get this under contract for around 85. And if you can get under contract for around $875 to 900 I think at a million dollar 999,000 it could likely sell for that. I could see that happening.
What about Yeah, I want to see this one. Actually, this is a little bit different type of land, but it'll show you the demand for for this kind of property in the area. 210 here. It's got a big old river that cuts through it, which would be a big selling point. And this was Yeah, it took a little four months.
Yeah. Five months.
Okay. So, that's what I'd be expecting for you is like a, you know, four or five month exit around that. Unless we're really aggressive. So, that's what I'm saying. If you And that's not including that that would not be including splitting it up.
No, we you don't want to split this up.
Okay. Not right now. You We got to build up the skill set first. Do some flips first, get proof of concept, and then you can do that. But your first deal as a subdivide, that's going to take months and months and months, and it's going to cost a lot of money. You don't want to do that. So, let's let's treat this as a flip. Offer anywhere from 800 875 and just just build that rapport with him and then any call breakdowns or anything like that we can we can do.
So so that's what I was trying to do. Talked to him yesterday, mentioned that he was picking up his wife was whatever on vacation in Florida. So he chatted about that. He was on the way to the airport today. I kind of checked in. Hey, you're on the way.
That's where I've been at. That is where I've been at.
Thank you.
No worries. All right, guys. Um before I before we do role play, we'll do some role play here, but I want to check in with um Ahmad, Sheila, and Ty. Um Sheila, you can start first. How are things going? How was your week?
Hi. Everything's going Excuse me. Everything is going good. I had a call with um Launch Control this morning, but since I didn't have my list available, he said we'll do it uh first thing Monday morning.
Okay. first money and he Yeah. And he wanted me to ask you as well, does Land Burst have their own templates and he can go ahead and import that into my system?
Yeah, we do. It should be in their system already.
Okay. All right. Cool. Um All right. Keep me posted on that. And then for your deal with that with that uh the North Carolina one you sent me, that came from a text or where that where did that where did that come from?
It's South Carolina. Um it came from a a realtor that I know.
Okay. and a person they're they're just really trying to get rid of it. They need some cash and she said I told her that I was into land. So, I just shot it over to you and see if it was something that you'd be interested in. With it being um landlock like that, there's no legal easement. It's close enough to the road where you could potentially do something with it or talk to the neighbors and get an easement going, but you'd have to buy it from that person at a deep discount. I'd say like 25 30k because you're you're solving the problem of getting the easement in there, right? And you got to think like an end buyer is not going to want to buy something that's landlocked. So if this could be a deal for you, it could be something you work out if you send a neighbor letter or if you, you know, skip trace to neighbors and talk to the neighbors and say, "Hey, I'm just looking to get an easement to this property." buy it from the person and then explain to them like, hey, this is landlock, so we can't really do anything with this. We're going to have to spend some money to get that done. And then you could I see an exit for 60 75K is is plausible if it has the easement. If not, you're looking at it sitting for a while and and maybe selling for like, you know, 35 $40,000 without an easement.
Okay. All right. So, um, my understanding is that the land behind it is a family member. So, what do you want me to just ask them? Can they pay for an easement? What what suburb you want me to say?
What do you mean when you say it's a family member? What the land that you send in the back where landlock is some land the land that's that is um in conjunction with is a family member's land.
Oh, so those people are all family.
Yes. So the two persons in front, they're family. So then I'm curious why there wouldn't be an easement because if you can get an easement, then you could probably get them anywhere from 40 to 50K if there's an easement there already. I've been asking them um I don't know if it's a communication issue, but um I talked the lady that referred it to me, she's an actual realtor, so she said let her do some uh digging on it to see if it's one that they have in the family that she didn't know nothing about.
Gotcha. Okay. Yeah. So, I would say do a little bit more digging. Um, if there's an easement there, it's definitely worth a lot more. If not, then I'd offer a lower price, get the easement ourselves, and then just relist it.
Okay. So, how much is an easement?
It could cost zero dollars. An easement cost me no money before. It's just about it's just about talking to the people that own the land crossing over to your property.
Okay. So, you just need to get the Sergeant.
Go ahead.
No, if these people are already family, um, then all they have to do is have a conversation and get an easement recorded. So, that's what I would say. I say like, "Hey, you know, since there's no easement, make sure you guys get an easement recorded and you know, I could probably do this deal at I would say $40,000."
Yes, but I definitely want to check the comps a little bit more, but I from what I saw, that's it's pretty accurate.
Okay. You say you'll come in at what number?
around 40 if it has an easement. Without an easement, I'll go way, like I said, I'll go 25, 30.
Okay, cool. And how long will it take for you to close on it?
If I was to do the deal or Yeah. I mean, tomorrow. As long as it makes sense.
Yeah. Well, I just wanted to know what I was dealing with.
Yeah. No, no, no. Yeah. As long as it makes sense, we Yeah. If you want to do the deal with me, we can JV on it or whatever.
Yeah. Okay, cool. All right, I'll jump on top of it and get back with the real uh communicate with you in Discord.
Perfect. Awesome. Uh how about you? How's everything going?
Hello. Are you there, Ahmad?
Oh, hey. How you doing?
Good. How are you, man? How's everything going? How was your week this week?
Uh it's pretty good. I'm just, you know, in the call just learning. Um so, but I've been just going through the modules. I hopped in one of the um group coaching calls just to, you know, understand more things. Um and uh yeah, I've just been doing like a lot of the basic stuff. So yeah, but I've just been hopping in the calls just to learn stuff and then once I, you know, finish off the remaining amount that I got to give you, then start executing.
Perfect. Okay, cool. All right, guys. Well, um, let's get into some role play. Does anyone want to go first? If not, I'll I'll pick you guys.
I'm always down to volunteer.
Cool. All right. Um, we'll have Ty go and we'll have Ahmad go. And Vicram, can you do me a favor and give me the profiles, please?
Yes. No, no problem at all. So, profile is a seller who has a 30-acre hunting property. Property is worth right around 100. Seller wants 90 for it. You obviously need it at you know right around 50 55 max 60 for I guess a double close for the numbers to make sense. So property is worth a 100 seller wants essentially retail; they want you know 90.95 for it.
Cool. Um who do you want to be the seller? Who do you want to be acquiring the property?
Yeah I guess the seller could be Ty. I think he I think Amed may have just left the meeting.
Okay. So, in the meantime, I I'll have Sheila go.
Okay. Go ahead. Whatever you got.
Okay, I'm ready. Um, yeah, go for it.
Okay. What am I? What role am I playing?
Wait, are you Yes. Sheila, you're going to be seller.
No, no, no. Sheila, I want you to be acquiring. I want you to be practicing. Uncle T, you're going to be seller.
All right, go for it.
Okay. You gonna talk first? The phone.
Hey. Hello. Uh, who's calling? You're calling. He's got Oh, this is Sheila. Oh, should I be calling her? Wait. All right. So, I'm buying from you, right? I'm buying from him. Yes. Yes. So, make sure when you introduce yourself, you're saying, "Hey, this is Sheila with company."
Okay. Hello. Hi, this is Sheila with Green Acres Legacy.
Green Acres. Like, what are you calling about?
I was calling about your lot you have on 123 Autumn Lane.
Oh, yeah. Yeah. Yeah. Um, what about it?
Well, I was calling to see uh was it available? Uh, had you considered selling it?
Actually, I have been thinking about uh um uh selling that. Um what are you offering for it?
Uh right now I'm just considering looking at it. Um I was trying to get some additional information from you. Um you have a some time right now. We can go over there over the property.
Yeah, now's good.
Okay, great. Um how long have you had the property?
I've we've had this for about seven years.
Okay, great. Great. Um, I was trying to acquire a property. I have someone else that was looking at the property and I was trying to see, um, what would be a good price that you would like to sell the property for?
Uh, I was looking to sell it for about 100,000.
100,000. Yeah. Um, can you tell me how did you come up with that price that you sell it for?
I I saw some other other other properties actually really close by listed for around the same amount.
Okay. Okay. Well, I think I understand that the price that you have right now, that's a good number. Um I'll have to do my due diligence on the property to see if that's a number that I would be able to offer you. Um I would like to get some more information from you. Um do you know if the property is in a flood zone?
There's no No, I don't. No, it's definitely not in a flood zone.
Hey, can you tell me are you do you buy a lot of properties?
I do. I do. I buy a lot of property in your area and um that was just seen your property. It was a really nice area and I was very interested in it. That's why I got on the line with you today. We can discuss the information.
Got it. What's your company name?
Green Acres Legacy.
Thank you. And you can look us up on our website as well. Um, if you want to pull that up, it's greenacres, uh,
legacy.com. Thank you so much. You're welcome.
Um, I want to get some more information. I'm going to do some more due diligence on the property to gather my numbers. Can I give you a call back, um, this evening, um, once I get some numbers to see if that 100,000 is something that we'll be able to offer you on the property?
Yeah, absolutely. Okay. One more question before. Go ahead. Sorry. Sorry. Let me pause. Um, before I give my notes, Clyde, do you have any notes for Sheila? No, I I don't have Okay. Come on, Clyde. I know I did something wrong. Do you have any notes for Sheila?
Yeah. Um, what I would say is I definitely would build more rapport with the seller, and I would use Famy's acquisition script in the course and just kind of follow that from A to Z. Um, kind of start from question one going down to question, you know, six, seven, eight. Uh, when just starting off with price, you're losing the ability of building rapport. So, I would kind of ease my way into just, you know, building rapport, making sure they trust me and they want to potentially, you know, discuss numbers with me. And then once the time comes to ask them what they're looking for, um, I would definitely ask that, you know, a few more minutes into the call opposed to uh right away. Then I would also, you know, have the pro the property comped out before you call them. So this way you can just discuss numbers with him there and then because there's no guarantee you can get him on the phone later. I mean, he might just not pick up uh for a very long time. So I would just, you know, point out those couple things. But in terms of cadence, it was a good cadence, good tonality, but I would just structure it a bit, you know, a bit more.
Okay. Thank you for that. Real quick, I I had one I do have one. So, the only thing I would suggest is uh I well when I get on the phone only asking questions that you can't look at online because if you're an expert like you can look up flood zone online. You can look at certain things online. You can see if it has road access online if it has road frontage. So, I wouldn't call and say like is it in the flood zone. I would call and ask like uh does it have access to power, water, like has it per different things that you can't necessarily see like kind of doing your due diligence online. Okay. So those two things are what I was going to say. So great job both of you guys.
Um, we want to establish some more rapport first and get some what are the pain points. Why is he interested in selling? Like why specifically? Um, and try and escalate to okay well it is because of this reason right because we need that pain. We need that pain in order to be able to negotiate properly. We do. And so more emphasis on the rapport building. And Clyde hit a good point as well with the flood planes and the wetlands. Well, I can I can see that on the map. So, like he said, like, well, when was the last time you've been to it? Has it been cleared? You know, if it's been cleared, is there maybe trash on it? I want to put these little, you know, little pins of doubt in his mind as well. And if I can't do that, if he's like, "Oh, yeah. I've already been to it." I want to get to, well, I want to sell it because my daughter this or I want to sell it because I'm looking to liquidate, or I want to sell it because I have another property I want to buy. That's what I want to get to. And we only get to that from building that trust because he I mean he doesn't know you. And so the only way that he'll tell you something like that is if he trusts you, right? If he doesn't trust you, if you can't build that rapport with him, then you'll never know and you won't know how to make the connection with him to get the property under contract, right? So let's we we can resume what you're doing but but keep that in mind of like let me build rapport with him and let me try and figure out what some reasoning is to why he might be trying to sell because then if if there's nothing that will get him to 65,000. If there's no motivation then it's going to be hard to get him to 65,000 from 100. So we got to figure out what those what those points and what those pains are. Does that make sense?
Yes, it makes a lot of sense. Um Look, I'm driving. So, we the ball to me. I was just like, "Okay, let me see what I'mma do." Okay. But I take all your guys feedback. I had no idea you're driving. Please drive carefully. I'm I'm Look, I'm a pro. I'm in Land, y'all. Okay.
Um, where script at, Fimi? Is it in the course that he's referring to? The script? Yeah, it is in the course. Yeah. Okay. All right. I'll get on top of that. A couple of things for me. Um, and and I have a followup for one thing Clyde said, but one thing for me is, um, when I said that, you know, how'd you get to the price and I looked at what was I said, you know, the other properties were sold for about that much. I think at prior meetings, you said, well, always mention that what they're listed as might not be accurate. It's what's actually sold. So, those are that's a good way to kind of come back at that objection. And then um a question based on what Clay said. I really like that comment about, you know, the things that you can see beforehand in your due diligence, maybe not ask those. Would there ever be a situation where you see something beforehand like a flood zone, but you want to kind of confirm with the seller? Uh or just kind of like blanket, you know, if you if you if you already do that research beforehand, just kind of let it go and just focus on the things that you really can't find. And let me know if that's not making sense. Do you want to answer that question? I I haven't been in a situation like that as a man where I saw something that I wanted to confirm. Um, so actually I get so I actually had a pro a property just fall out of contract. So like something I might something I would probably ask uh if you see I I had a a parcel that I that I got under contract for and it actually didn't perk. So, uh, if you around and then that one doesn't have a house on it, then you might want to confirm like, oh, have you got test before? Have you tested the soil or something like that. So, that's that's probably I would ask.
Awesome. Cool. Okay, cool. Um, let's go David and Ahmad. Um, could do you want to give a scenario? Wait, Fe, I was going to say, could we do the scenario that I'm in right now? Yeah, that I do want to get here. You want to be the seller or the the buyer? No, I want I want I want to try and be me. I want to try and work over how I'm going to talk to this uh this guy. Okay, next time. I'm about to get practicing. Um Okay. Okay. Go with Ahmed first and then and then if we could do me later. Okay, cool. Um then let's do because if if you're going to do that, David, I'm gonna have you go Vicram. That's what I'm saying, man. Um, Clyde, are you up for it today? You have to be to be a buyer. I mean, to be a cool. Yeah. Yeah. Ahmad and Clyde then? Uh, Ahmad, you're going to be the buyer. Clyde, you're going to be the seller. David, can you give me a situation, please? Yeah. Uh, it's a 40 acre property, one parcel. It was inherited by uh your father. The seller wants 45,000 for it, but it's worth which is about market value, but we want to get under contract for 20. So, hunting property with uh one hunting cabin and a good amount of deer. Right. All right. So, you said it's hunting. It's uh what what what's the what's the numbers again? 40 acres. Okay. He wants for what did I say? 40,000. Yeah. 40. You said 45K is market value. 45K is market value. Hey. Okay. Okay. Well, I'm currently driving, so I'm just Let's Let's do this, though. Please drive carefully. Yeah. Yeah. Yeah. Okay. All right. Go live, guys, but please be careful. Okay. Um All right. Um this is Clyde again, right? Yeah. Yep. Okay. All right. Um All right. Hello. Um is it is this Clive? Yes. Can I ask a caller? Hi. Um this is uh Ed from uh Teraflip. Uh I was calling about the uh parcel land that you had on um Over Street there. Yes. I' I've been recently I've been getting so much contact about this property. Like where you all get my number from? Why do you keep contacting me? I I don't understand. Is it is it listed online somewhere? Oh, it it's just public information, sir. Um that's that's the only reason why every it's public information. So, um, we're able to sort of get access to, um, be able to call you through that. Um, now, um, hold on, quick question. I got in a situation where you direct mail and the person were to call you back, right? Yeah. Wouldn't you attack that a little differently? It would be like a would you just approach it as in like yeah I'm calling because you um had responded or called back to this to the mail that I had sent. Yeah. So it depends on if you have if you have an answering service in between you or not. And usually like if which I would suggest just so you can hold out nonsense. So the call would actually be in a cold call kind of like this. It be maybe a warmer cold call if you're doing mail. Yeah. So it would be you're call like you would still get the Okay. Well, yeah. Let's get to it. Why are you calling me? Does that make sense? Right. Right. Yeah. Okay. Yeah. Cool. All right. Give me Give me one second. Okay. And then what I would say too, Ahmad, is when you're when you're doing your intro, um, always make sure to say, "Hey, this is the name you're going to use with company name, and I'm giving you a call in regards to your parcel in this county, right? You stated who you are, where you're from, and why you're calling and the person to the call." So that way there's not the, "Oh, who who are you?" So, usually when you when you're able to state those three things at first, you don't get that. Um, so that's really important. Instead of being like, "Hello, hi, hello." You want to be like, "Hey, this is so and so with this company. I'm calling you about this." Okay. Are we good to go? Cool. All right. Go for it, guys. All right. Um, I'm gonna just start from the top. [Music] Um, hello. Is this Claude? Yes, Hass is calling. Hi. Uh, my name is Ed. Um, I'm from Terip Teraflip Systems. Um, I'm calling about the, uh, parcel of land in, um, Wood County. Yeah. What What about it? Yeah, I was I was calling because you had reached out uh based on one of the letters that we've sent um saying that you were interested in possibly selling the property. Yeah, I guess so many of those I I figure I haven't really been too interested in selling, but I I figured I'd just kind of see what number you were going to throw out there. Okay. Well, I mean, what number were you really interested in, honestly? Yeah. What What offer did you give me for it? because I I think you know it's been in my family for a while. I say it's probably worth at least like 60 70,000. Um well, what made you come up with 60 70,000? Been looking online seeing some properties that are listed around the around the same price uh 40 acres around 60,000. So I figured, you know, mine should be worth the same thing if theirs are. Okay. Um, do you know if their properties were like, you know, similar like yours in terms of uh everything like not like they had the same features? I mean, that's that's really kind of your job. I, you know, I had my property, so I know what mine is, but I just saw they were the same acreages, so that's kind of what I stuck with. Yeah. Reason why I'm asking that, again, just because the two properties may have the same acreages, that doesn't mean they're exactly worth the same. That's kind of why I was asking cuz I mean I was just trying to figure out how you came to your number. Um because our number was more around the $20,000 mark. Whoa. Whoa. All right. So, how did you get 20? So, so you tell me my property's worth a third of theirs and it's the same size. Well, not going to lie, I'm stopped right now. It's all good. All right. So, a couple things. Um, you you really just throw the offer out at him without getting any story at all. That that's like the first thing. Like, I haven't really heard anything about him. We haven't built any rapport. There's no trust built yet. Um, yeah. How I would respond to specifically what he just said, where you tell him you're buying it for a third. Um, well, I'd start pointing out attributes that don't necessarily match with his property. Well, if you look at this property, this one had this one had a perk test on it. It already had a septic septic system on it. It had water. Yours doesn't, as an example. Or the topography of this one is completely clear. And yours is is in brush. And you know, I could have someone walk it, but you know, usually properties like this, if you haven't seen it in quite a while, most of the time neighbors are trash on properties like this, right? So, I'm bringing things down before I even tell them the number, right? Um, but at the point once I tell them my number, that's why I have to throw the pain. But if you don't, you got to have that period of like, okay, well, you're not interested in selling. I I guess what got you interested in calling me, right? Oh, I just saw your letter. Oh, okay. Well, have you thought about selling the property? So, I mean, the reason I'm looking for liquidity like that, those are the kind of questions I'm asking. And, um, when did you see it? you see it, you know, two weeks ago or has it been five years or have you seen it at all? Because a lot of the cases we get is like people that have never seen these properties at all, you know, and and so if I don't know that, but if I don't know that, I can't tell you. I don't know what your motivation is like. So that's why we have to have those conversations as opposed to like just making the offer. So really, it's it's calling, having the conversation, building rapport, building trust, and then it's like, okay, now once I've established that trust, once I've established authority, once I've established that I've worked with people like this before, then I can make the offer. But if I don't have if I don't have rapport building, if I haven't built trust, if I don't have that in place already, when I make the offer, the reaction is going to be like, whoa, whoa, who the hell are you? Makes sense, right? Um, all right guys, you you keep going then I'll have uh David and are we still you might hear I'm walking so you might you might hear some background noise. I don't know too much for y'all. All right. Oh, that's okay. Yeah, I'm off on the move, too. So, yeah. All right, cool. So, yeah. So, you think Mark Are we still going or or Nick going? Go ahead. Go for a few more minutes. All right. Cool. Just I want him to I want him to practice building rapport a little bit. I want to hear that before. All right. All right. So, let let's start back at the point where you I was like, "Okay." All right. So, yeah. So, I've been looking online and I I saw that some some similar size properties were going for 60,000. So, I figured mine be worth the same. Okay. You okay over there? Yeah, I am. I am. I'm just on the move right now. Anyway, so Wow. Have you When is the last time you've been on the property? Uh, it's actually been a while. Uh, you know, we used to hunt on it uh when my kids were younger, but they got a little bit older, so you know, now they're off to college. So, uh, it's probably been about two, three years since I've been there. Okay. So, in about two, three years you haven't been on the property. Um, and you just you basically compared acreages and based on what you saw that you that's how you came up with your number. Is that is that correct? Yep. That that's pretty much it. There mine is 40 acres. Theirs is 40 acres. Theirs sold for six. Theirs is selling for 60,000. You know, I figured I should get 60,000. Okay. Okay. Cool. Okay, that's understandable. And you said using it for hunting, right? Yeah, we used to hunt. Uh, you know, it's some good game out there. some deer. Got some foul little little fishing hole on there, too. Okay, cool. That makes sense. Um, damn. There we go. Um, do you hunt do you hunt often? Is it is something I mean, well, as I said, we I used to hunt a lot when my kids were were younger, but they're in college now, so I'm getting a little bit older. I I retired last year, so honestly haven't just kind of been hanging around the house. I I live I live a couple miles away, so I you know, don't go through the property too much. No hunt as much as I did when I was younger. Okay. Okay. So, I mean, are are you selling it simply just because you just have no real use for the land anymore? You you don't hunt as much anymore. So, it's just, you know, maybe some little extra cash in your pocket. I mean, I never said I was selling it. You you sent me the letter. So I, you know, I I just figured I called just to entertain it, but I, you know, I didn't decide on whether or not I'm selling it. Pause real quick. So he he he just told you the reasoning why he's calling you. You got to be able to expand on that a little bit more. He said he said his kids are going to college, right? So even if he's telling you like, "Oh, well you called me." Well, then I'm going to switch to like talking a little bit about that. Oh, okay. Cool. You know, son, daughter, right? Start building that trust. I actually have a son. He's going to pen. Right. Okay. How you build that? That's how you build that you're building camaraderie, right? If you don't do if you start saying stuff like, "Oh, well, when we we use language like this sometimes, but when you just say, well, are you just Oh, you left. Well, I'll say it for the recording." When you're just saying like, you know, I want to put cash in your pocket. Um, we we just want to be able to build camaraderie because sometimes like that, oh, I just want to put cash in your pocket. That makes it like, how do I say this? Um, it goes back to every other investor essentially. So, everyone everyone says that a lot of people are not building camaraderie. A lot of people are not building trust and rapport and that's how we do that. So, um, we'll we'll stop it there. Um, great job Clyde. Hopefully, he comes back. I'll have David and Vicram go because I know David wants to practice. Cool. All right. Um I'll give you do your scenario David actually. Yeah. So gentleman farmer uh one county over. He's got 150. He's got this 155 acre property that he inherited. It cash flows to him. Not great. The CSR2 rating which is the rating of the soil is also subprime. Like very much subprime. He wants it for a million and my and I want to get it for875. Okay, I got it. All right, I'm going to use his name, too. That okay, Vic? So, I could just get that. Yeah, whatever you're comfortable with. I'm good. All right. Hey, Ed. This is David from the Modland Acquisitions. How you doing today? Hey, I'm good. So, I was able to check with uh my team and we're ready to make an offer for your 155 acres. Um, okay. Sure. Well, I guess what's what's the offer? So, you told me over the phone that you wanted a million, that you would definitely take it for a million. And I'm going to be frank with you. If it was worth a million, you would have gotten an offer
For that already. The best I could do is 875,000. Gotcha. Gotcha.
Well, hey, look, I I appreciate the offer. As I told you, you know, a lot of my land is tillable farmland, and you know, us Ians, we know the value of our farmland very well. Um, so I mean, I I rarely think that um I'd be comfortable at around a million. You know, they're not making any more farmland, I tell you that. You know, so that's pretty much where I'm at.
That's true. That is absolutely true. But as as a farmer, you also know that the CSR2 rating is very important. And we've discussed this prior that the gentleman farming from you are not generating revenue that makes a difference. The land sitting there, you're paying taxes on it. And with the capital from liquidating from my offer, you'd be able to invested in more land for yourself out where you're farming, buy a rental property. There's there's lots of things that you could do with $875,000 split between you and your sister. Stop. So, the pain should have been reestablished before making the offer. Okay. So, instead of um he said something that I want I should have paused you then, but I'm going to the pain should have been established before the before the offer was made. Right. Well, okay. What's this guy's name? He said I don't know. Ed. Okay. ahead.
You told me that you're not cash flowing very well on this property. Um, I mean, I want to ask you like if you don't get liquidity from this, I guess what are your alternatives, right? I want to play advocate a little bit. Well, what what are the alternatives if you don't get some liquidity from this one? Okay, gotcha.
Well, listen, you know, my team and I have prepared an offer. It is I want to be very clear. It's not meant to offend you, but this is I mean honestly the best we can do. And if just just being frank, like if if you could sell this for a million, it it already would have sold probably much faster. Um and I can get this like I somebody I cut a little short. I can get this done for you. We're talking about 45 days. So you're talking about 875. you're talking about, you know, $875,000 within 45 days. Um, it would be something along those lines more so than, you know, hey, you're not going to get this anywhere else. It just won't happen. You see the difference? Yeah, 100%.
And and I mean this is something this also something that that I hit on last week and I think Vic also got got going have good input on this and and obviously Fei. Would you want to extrapolate like hey 875,000 is a lot of money. You could do this with that. You could buy a property. You could do that. Should I should I try pushing that or because that like for me that sounds not like scammy but it sounds like a little like like too pushy. So I tried you know I tried saying 875 then then so for this profile no that's why it's so important to know your profiles which is why I said I said it in a different way remember when I said what kind of things could you do with this capital or like would it would a liquidity event like this make that big of a difference for you? I'm I'm saying the same exact thing in a different way. I'm saying it in a way that a profile like this will be receptive to instead of saying, "Well, you can go to Europe with it or or whatever because that's how a lower profile thinks." A lower profile that we're buying a property for, you know, 30 or $40,000 from, that's how they're going to think as opposed to a profile of buying a a seven figure asset from. It's just two different people.
Okay, I'm definitely going to look this over. I think the same thing. I'm going to touch base with this guy before um before I wanted to make an offer again next week. We'll see if I can get more pain or drive that in or build more rapport because as I said today, I'm trying to build rapport and not jump to it, not go too quickly. Yeah. So, that's I mean those are the key the key notes before making the offer. I really think that this is something you can get done. Um, but as long as you cover those points and go go back over this call and and watch this watch this section especially because there's some key things in your tonality that you can do and in you building the trust that will allow him to be like, "Okay, I'll take a haircut, right?" And asking him like, "Okay, what are you going to do with?" Because he's already given you the fact that it's not it's not cash flowing how you'd like it to. Mhm. So, it might make sense for you to take this liquidity and invest it into something that's giving you a proper return on investment as opposed to this one.
And just one question, this is a bit preemptive, too, but I did mention that he said he's going to confer with his sister because I figured that they inherited it together. So, she she's he he he mentioned that she's going to have a say as well. I haven't spoken with her today. when I haven't spoken with her at all today. I mentioned, hey, if your sister is interested in hearing from me, I you know, I'll be more than happy. What in the event that I get push back from her same just start the process? I would I would actually see if I could get them on the same call even if it comes down to it and tell them like, hey, you know, I'm actually happy to have a conversation with your sister as well because I I I believe in making family decisions. I'm a very I'm a family man myself. Mirror mirror as much as you can, especially with someone like this. Yeah. cuz all you got you start doing that they trust you like they'll respect the fact that you want to talk you want to include the sister. Most people are not doing these things like at all. Yeah. Like they're not thinking about these interactions on a deeper level which is why a lot of people are not getting deals done. But when you think about the interaction at this level like all right how do I how do I navigate through this? Then the result is now you have a contract for $875,000 you can go sell for a million bucks. Amen.
So yeah I just higher level you just we just want to think about these things as interactions that we can navigate and figure out what are pain points with them. How do I build trust with them? Like building trust with the seller is like 80% of the battle really. Like honestly, price is the other 20% if they're motivated because even if you guys are off on price, they still call back a few years later because you're in their mind. I remember when you know I really like talking to David. So when I get ready to sell or if something happens, I'm going to call him. So yeah, so I had a situation uh I'm supposed to talk to him tonight to send the wife and him to contract. And since I'm getting better on the phone, I'm not great as it now. But the main thing I do, you have kids. Oh, I have kids. You have a sister. Oh, I have a sister. Like, you have kid. You know what I mean? Like that's the like that's the that is my quickest way to to build uh rapport. Or like even so the guy today, he was like, "Oh yeah, you know, he's like, "Oh, I was a chef." I'm like, "Oh, really, man? Like what do you cook? Like what's your specialty?" Then he told me that he's like, "Yeah, I got a YouTube channel." I went to go look at his YouTube channel and I checked it out. So that way when I talk to him again, like, "Oh yeah, man. Your chicken parmesan like that. That look good, man. Like I gotta try that." My wife said, "I don't cook enough." like and then we supposed to I mean that like that's the easiest way for me because it's it's kind of hard to like build rapport with things like I don't hunt, you know, I mean my family didn't hand me no land so I can't build rapport in that. It's like but I do have family. So anything with family you could build a connection and and then just you know people like uh hearing about themselves like oh you cook what do you cook and so that that's just my two cents.
That's great great tip. It's fantastic dude. I like me me I Clyde and I started at the same time. Dude, it's inspirational. I'm happy that you're Vic's obviously inspirational. He's killing it. Especially that Clyde, dude. Great tip. Thank you, brother. I appreciate it. Just following the blueprint that we laid out, man. Awesome, guys.
Well, um, before we jump off, do you guys have any questions for me before we head into next week? I don't have any as a name. I got I got one other I got one other deal that gentleman was interested in. It's same thing. Iowa, same county, lot of moving parts though. Uhhuh. 200 acres. Dude still farms it. His dad recently retired and he's thinking about retiring. But he was giving me detail and I I I at the very beginning he was just telling me all this stuff and what and how the big farming operation and I was like sir like I think if you're really trying to get out my I was like I don't I don't want this try doing it with with a realtor but he goes well I'm interested in hearing an offer right like I don't want to deal with realtors either. Yeah. So, I figured I was gonna I figured I was going to check it out. And he said he said a lot of a lot of things I would really need to dig in deep and I don't know if it's if it should if that's what I should be doing with my time. So, right here, Bane Hart. This is under his uh sister's name. Yeah. But he said 200 heads of cattle. So, he's got right here, right here, and then up here. And it's altogether around 200. What is he going to sell it for? He said seven. He said he'd be happy with 7,000 an acre. I mean, he wants pretty much market. Yeah. And is there's already cattle on it? Yeah. I would have to remember the exact thing that he said. If if so, I'll give you a scenario. If like there wasn't cattle on it, um it might be a little You know, the calves should generate 80k this year and row crop around 60k. Yeah. that there's a a low likelihood, but you can still work the lead. But, okay, what I was going to say is if it was a situation where there it could be I've sold properties like those before where could cattle can be run on it and there's no cattle currently being run on the property, then you have a situation there. But with this, you know, he's already making money from it. It's a cash flowing asset for him. So, he doesn't really have any reason to sell this at below market value. Yeah.
All right. I just wanted I just wanted to double check uh right now. No problem. No problem. Keep at it. Um all you guys keep at it. Great job on today's call and u I will see you guys on Monday. Have a good weekend everybody. You guys too. Bye.