First, my name is Ola Dantis, and this is my very first blog post. Not sure the purpose of this line but hey here you go! :)
Life is full of interesting retrospective moments. One of these moments was talking to Ryan about how we met. I can't quite remember where I learnt this tactic from and it could be have been on a Bigger Pockets podcast, but an investor once said when you see a For Rent sign, call the number and ask the Landlord if he/she is interested in selling their property. Expectedly, most Landlords will say no, or even sometimes, the Landlord might wish he/she could show you their favourite finger over the phone if possible, but that should never deter you.
There is an important lesson to be learnt here. As a new investor, no, as an investor in general, you can't be timid or shy to pick up the phone and just call a number (yes, not snapchatting them or Insta-ing or FB Messenger-ing), call. Now, I know it's not easy, and I can somewhat guess what your brain is telling you:
What am I going to say? What if the person doesn't pick up? The Landlord is not going to sell anyways I don't like bothering people What if they shout at me? Look, I'm right there with you because the above were MY initial thoughts before I picked up the phone. Now, these thoughts in nature are NOT timid either, they are very strong and real elements that are preventing us from getting to where we always want to be in our lives and career.
Oh, by the way, this is me dragging YOU into the mindset space, we would get back to the deal in a sec. Did you know that the human brain get hits with 11 million bits of information per second and the brain can only process about 50 bits per second? Why do I mention this to you? Because a lot is happening in our brain without us even realizing the impact of the tsunami of activities and thoughts.
So, you may ask, Ola, what do I do when these thoughts hijack real estate space in my mind? no pun intended Well, you foreclosure on those thoughts and get them out asap (I am writing this with a straight face by the way, seriously). Simply put, you answer the questions and present them to your strong thoughts (yes, we are in a hostage negotiation with our brain).
What are you going to say? Hi there, I'm [INSERT YOUR NAME], and I was wondering if you'd consider selling your property? What if the person doesn't pick up? You leave a voice message and/or send a text with your WEBSITE url (this is very important-your branding and story [topic for another blog]). Essentially, you are basically telling the Seller a lot about you and your brand before they even text you or call you back. The Landlord is not going to sell anyways. Ask your thoughts if he/she (however you perceive your thoughts) is a mind reader? For the most part, your mind will answer-no, I'm not a mind reader! I don't like bothering people? Ironically, some Landlords do want to get rid of their property because of life circumstances (they are tired of managing the properties or an illness in their family), so you are actually helping and not a bother What if they shout at me? They wouldn’t and if one does - use the red hang up button on your phone. Life's too short :) Now, that we have gotten that out of way, we as investors can now tackle that part of the real estate investing game.
In hindsight, this part of the game I clearly understand because that's how I met my partner, who has been instrumental in the current deal we're working on. I saw a For Rent sign on a building that I really liked, so you already know what I did. But of course, Ryan didn’t answer so I sent a text message (no voicemail I don't think). Now, when I send a text message I always ensure that I include the full url of our site [www.dwellynn.com]. That way, the person can go to our site and see our content - Our Story, Podcasts, and 1HousePledge (community initiative).
The intention here is to informally introduce yourself to that person, so that by the time they're replying you via text or a call back the respect is there, and they know that you aren’t a joker in the real estate game, you are a real player! In my case, Ryan and I actually started texting back and forth, and we eventually met for lunch. As they say, the rest is history.
Since I like Apartment Buildings as an asset class, and Ryan likes flipping and other niche assets, we have since combined forces and leveraging one another's strengths. We are on track to make a 100k profit on our first deal together. I will be posting more details about lessons learned on the project.
Thank you so much for reading and please do let me know what are some thoughts that prevent you from taking the next step in your journey?
You follow my journey on Instagram, Facebook, and Snapchat: @OlaDantis.