How to Overcome Newbie “Lack of Confidence”

House Academy Blog
How to Overcome Newbie “Lack of Confidence”
By Jill DeWit

Whether you are brand new to House Academy or been watching HGTV for years, taking that 1st step into buying a house with the sole intention of immediately marking it up to resell can sometimes seem daunting.
Jill tip to tape on your computer: Remember what you know and why you are doing this.
If you are a House Academy member, you know how to source and purchase an undervalued asset, aka a property worth substantially more in its current condition. You know what “triggers” to look for and how to select a “hot” area. You know how to get a solid starting price and how to back into your offer price. You know how (& where) to send inexpensive offers by the thousands directly to sellers; at the offer price that you know will work.
Now as the mail is in the process of being delivered and the calls/mail/emails are about to pour in – is the time to get ready and confident to build quick trust and rapport with sellers.
How do you do that?
Know your stuff and stand behind your pricing.
You probably put at least a full weekend into picking a city, running a version of red/yellow/green tests to compare zips/areas, not to mention the hours spent over pricing to make sure your offers are low enough to meet your criteria while promising to motivate sellers. There will always be one-offs but go into every situation as if you are 100% ready to act on the offer price you made.
Use your peers for practice or advice.
One of the benefits of a community (such a House Academy) is the amazing resources available to you. Not only have you learned/watched a deal all the way through you have ongoing support from peers via the online community and weekly webinars/calls. There is always going to be someone a step ahead of you to prepare you and someone a step behind you that you can help.
Be prepared to pass on deals.
One of the reasons I sleep very well at night is because I never enter into a deal that I am not 100% sure about. I know based on experience, roughly when it will sell and for how much. Since you don’t have that experience yet yourself – you need to be even more critical when reviewing deals and trusting of your instincts. I often see new members trying to force a deal (when there is nothing good there) just to try to get one under contract. That’s the quickest way to fail. It’s far better to be uber picky and pass on deals that might have been good and hold out for a great, easy one to get the ball rolling.
Remember house deals typically tie up hundreds of thousands of dollars for a few days/weeks and you don’t want to overpay or be stuck with an asset tying up your funds.
I am very comfortable calling sellers back and letting them know that I am sorry, but for X reason the deal no longer works for me and I wish them well.
Practice and get very comfortable saying that sentence and you are there.