In this recorded group coaching session, Chris Prefontaine, Mike, and Steve dissect a recent seller call from a Providence property owner who offered owner‑financing but demanded an unusually high down‑payment. The participants explore how to uncover the seller’s true motivation—whether it’s cash need, tax/estate planning, or a desire to offload specific assets—and how to respond with scripts that reposition the deal in the buyer’s favor. They stress the importance of persistent follow‑up, deeper probing, and clear communication of the buyer’s financing capabilities. The conversation also references a prior difficult call with a different seller who hung up, illustrating the need for tenacity and strategic outreach. Throughout, they exchange ideas on script wording, timing of callbacks, and leveraging multiple property holdings to find a win‑win structure.
Chapters
The lady was just a complete jerk. So she hung up on Jessica like 2 months ago. I said, give me that call in 2 months if she's still for sale. So I call and she won't even tell me if she's for sale. And she wondered how I got her number. Like, it's just a ridiculous waste of time. But I kept digging until she hung up on me.
And this is the call you reviewed, Mike, the seller in Providence who had a zillion properties. He was open to owner financing, but he wanted a ton of money. And as I listened to the call, he kept saying, oh, I can help you with that. I'll hold $100,000. He was trying to help me thinking, I guess I couldn't get financing for it. Not right. I didn't know how to break into that. So what's the right way to go back to— is there a right way to go back to him or is it just let this go and call him in 3 months?
Yeah. I mean, well, first off, we need to find the motivation, right? It's what it comes down to every time. So what's the motivating factor?
Is it expired?
His motivation is he has a ton of properties and he's willing to sell some of them because He just wants money.
He's willing to sell, but what he doesn't want to dump. He said on the call he's not willing to do any of that. He can hold it. So there was what is isn't expired? What is it?
Oh, this particular one. I think it was one of the ones he was renting. It was a for rent by owner, and I just called him to see if he wanted to sell it.
Okay.
Come to find out the guy owns a lot of properties in Providence.
Yeah. So I mean, I wrote in there how to respond back when he was. Saying he wanted $450,000 down and he'll just carry $100,000. I mean, you know, obviously that doesn't jive with what we do. I would go back and, and tell him, hey, you know, uh, what was the script that I put in there? I'm trying to— drawing a blank on the call here. Um, sorry, I listened to a lot of calls last night.
Um, let me see if I can find it.
I wrote it in there, what to respond with.
I'm gonna look for it right now.
Um, Why don't you look for it? So, because these guys will take that script too.
Um, it was a simple— just to kind of turn it around and just kind of tell him what you're looking to do. I mean, I don't think he was aware of how you bought and what you do, first off.
So yeah, tell him the amount.
You're just trying to get into an investment property and he's like, hey, I'll carry you for $100,000, you know, $100 grand, but I need $450,000 down on a $550,000 property. I mean, that's 80% down.
Yeah, I don't see a script in what you wrote though, other than tell him there's no benefit in me paying full market and putting down 80%.
That's almost my exact script I used with that guy, Ron.
He said— Yeah, you got to turn the situation around, right? I mean, think about it. You can go to a bank with 30% and get fixed financing. Why would you put 80% down? It doesn't do you anything.
Right. But what's the motivation for him Yeah, what is the motivation?
Steve, in other words, where he's just trying to dump properties, maybe if it's ideal, like, yeah, the guy I bought the building from, and I told this guy today, I go, look, I just bought one right near you and I happen to just sell it. He did it for trust and estate and tax reasons. You may not have those goals. Like, if this guy doesn't have motivation, more money is the only thing that would be if he gave you a long term.
Okay. All right. So I should just call him back and see if I can find motivation. Tell him, hey, I can't do that because I could do that at a bank.
I wouldn't even have to.
He did mention a property that you could take over his loan.
Okay.
As a private loan or owner finance. It sounds like it was an owner financing that he had with a seller, right? With an owner of the property.
He did say there was another property he wanted to see if the guy was willing to give it up or something. Yeah.
More digging.
Okay.
Yeah.
Mike, we said this like 3 or 4 weeks ago with a lot of the groups. I would like to see you guys dig a little bit deeper with these guys and remember that you're buying.
Right.
I think it's more straightforward on the call. Right, Chris? Like, tell them what you do. I'm looking to buy, but this is the terms that I typically buy with or on, I should say. Right. And that way he understands from the beginning. He'll shut you down in the beginning if he's not even looking to do that. I mean, it is a for rent by owner, you know, so he's He's looking to rent properties at the time. That's how you found him. So might not be any pressing needs there, but at least you can, you know, uncover maybe a possible property that he's willing to dump or get rid of on those terms that you're looking for, right? So he has multiple properties, so there could be an opportunity there with that one. I think he wanted $100,000 down on that one, right? Or something along those lines.
He told $100,000. He wanted more.
Okay.
My guy was similar. He said he'd hold a small second. Okay.
So, all right, I gotta call him back and dig some more is what I'm hearing.
Yes, and put the call to Mike because his brain's on it now, you know what I mean? Put it in the channel. Yeah.
Yep.
Got it. Okay. Thank you guys.
And, and Steve and everyone, some just can't win. Um, we can transition to Jessica, but I did that call for you, Jessica. Did you hear it? I mean, the lady was just a complete jerk. So she hung up on Jessica like a month, 2 months ago. I said, give, give me that call in 2 months if she's still for sale. So I call and she won't even tell me if she's for sale. And she wondered how I got her number. Like, it's just ridiculous waste of time. But I kept digging until she hung up on me because I knew she already hung up on her. I was just playing. But don't be afraid to ask.
