How to call a Multifamily Broker - Live roleplay

Ring, ring, ring, ring.

Hello, this is Christian speaking.

Hey Christian, it's Nate. I mean, hey, I was checking out the historic Marquee Apartments you got down here listed. Yeah, I was just, just wondering if this property was still available.

It is still available. Gotten a few calls on it this week, um, but I don't know why it's just this week. Last 2 months I haven't heard squat, and right now you and everyone else are calling about it Yesterday and today, which is awesome.

All right. Hey, man, that sounds great.

Yeah.

Um, I was wondering, can you tell me a little bit about the location? I haven't been down to the area yet. Um, I'm new to the market, trying to get into this location. I've got some property here in Jacksonville, Florida. I'm trying to just move into a different market and just wondering if you could tell me a little about the place.

Okay. Oh gosh, you're all the way out in Jacksonville. That's crazy. What has you invested in, uh, in Fort Worth?

I got some family nearby there and I'm trying to broaden my horizons.

Oh, it's a good market to be in as far as location. As a city, Fort Worth is blowing up, um, just like the rest of Texas. Everyone wants to be here. You know what I'm talking about, you're from Florida. So I mean, we're the two places everyone wants to go. Um, yeah, so excellent place to diversify. This is the other hottest market. Um, as far as— this is on the right side of the city. If you're investing in Fort Worth Don't bother with the other side of the city. Uh, the east side is— it still needs some love. This is close to the water. This is where all the tenants want to live. Your quality tenants want to be over here.

Nice. Is there any kind of amenities or anything nearby the building other than the river?

There's the best restaurants and the best whiskey in Fort Worth. I don't know if you've had the, the TX whiskey. That is made right here and is an easy walk.

Well, enough like—

if you like water or you like drinking, this is your place.

All right, nice. I tell you, tell you what, man, uh, there was one thing about this property that just bugged you a little bit and you just couldn't get off your mind, you didn't like about it. What would that be?

Well, we're working on it, but there are two tenants that haven't paid just recently in the last few months, stopped paying because of some medical stuff. I think it was related to COVID. We're in the process of removing one of them and getting the other one current, but it is the only thorn in the side on this property is not everyone is 100% on board with the program right now.

All right, man, I appreciate you being honest with me about that. Of course. As far as like financing and stuff, how do you think the bank's going to take this property?

I don't think you'll have a problem. 12 of the— they have great books on 12 of the units. The books with those 2 tenants are the only thing that's off. It produces really good income. I, I think you're probably good. 25% down should get it done. Uh, there's really no other hair on this other than those two tenants. I, I think you'll be able to push this through bank.

Yeah, man, I appreciate that. Um, I really like the property. Everything looks nice about it, man. I appreciate your time. Um, I don't know, you got stuff going on, but just before we go, man, is there anything else about the Anything else that you think you might— I might ought to know?

Yeah, I mean, the bank might want the small hole in the roof addressed. It's small. Um, if they notice that, they may mention something. Uh, but other than that, everything's perfect. I think you're good. Yeah, that's it. Again, uh, It's got a couple of questions on it. So if you're going to submit an offer, I would, uh, I'd get that in here today or tomorrow.

All right, man. I appreciate that.

Can I, can I throw a question in there?

Yes, you may.

And you let me know if this sounds good or not, but so before you get done with the property, say, hey, is there anything else that would be better for me? That you have out there?

I like to phrase that with my last question. This is why I'm very intentional with how I word this. Hey, before we wrap up, is there anything else that I should know about before making a decision? And they're either going to share something like he just did— well, there's this minor hole in the roof, you're probably going to need to get that checked out—

well, I—

then I can take it and say, well, I didn't actually mean about this property. I, I like the property, but is there anything else I should be looking at? Any other opportunities I should be looking at before I decide on this one? Give them an opportunity to share a little bit about the property and then give them an opportunity to share another opportunity and vice versa. If they say, well, you should look at this other deal down the street, Then you say, well, I actually meant about this property. I really like this property. Unless, unless you're saying I shouldn't pursue this one and there's a better opportunity, I'm really curious if there's anything else I should know about the Marquine Apartments. You could spin it either way to get 2 data points with 1 question.

Awesome, very good.

And you practice that And starts to get a little bit smoother. And then you can throw in your tonalities and you can throw in pacing and it gets pretty fun pretty quick.

So add a little humor to it. Nothing says you're professional than being able to correctly use a little bit of humor in this to get someone to laugh.

My favorite phone call starter ever. Hey, I was calling about your pool for $4.7 million. It had a couple apartments attached. Is that still available? I don't remember who said that. That was wonderful. That was—

that I came up with the joke, but you delivered it on the live call first, and it was, it was glorious. And the broker called us right back. Um, so there's more to learn on this, but that is the basic framework.