If It Sounds Like BS…It Most Likely Is

It doesn’t matter which flavor of the month guru says it or how often they say it…the chances of you getting a seller to go out and get a new cash-out refinance loan for YOU to take over the payments on are slim to none.

I have been doing this for over 22 years and can count on 1 hand (and have fingers left) the number of times we have had this done. It will generally be a total and complete waste of your time to even ask a seller for this. The times it will happen are in very special circumstances and very unique sellers. Not the typical seller you will be dealing with AT ALL.

Can it happen? Sure. People win the lottery every day.

Will YOU win the lottery? Probably not. Most people won’t and that is OK.
 
Any real investor who has been doing this business for any length of time will tell you that building your business on expecting sellers to do cash-out refinances so you can take over their payments on their new loan is absolute bullsh*t. Just ask them…go ahead…I will wait.

The best things you can do to increase your chances of success and grow your business are…

1. Stay in front of sellers who have a reason to be motivated to sell to you. People in foreclosure, who have to move soon, who are getting divorced, who have liens and judgments, who have non-paying tenants, who have vacant properties…you get the idea.
2. Talk to sellers EVERY SINGLE DAY!
3. Make an actual written offer to every seller you speak to.
4. Follow up, follow up, follow up!

I know that when you are new, you don’t know what you don’t know and that is OK. I will never tell you something just because it sounds good or make this business sound so easy a caveman can do it. This business is hard, especially when you are new. Hard is OK.

*Expect to fail. Get back up and do it again.
*Expect to have to work hard.
*Expect a learning curve.
*Expect that if you do all of the above, you WILL succeed.

THAT is the truth.