318 - The Secret The Banks Don't Want You To Know!

0:00Last week I did a YouTube video entitled The Number One Strategy You're Not Using To Close Deals And I would encourage you to go over and watch that video. And then this podcast is really a caveat to that, and that's the secret the banks don't want you to know. And both of those things, the number one strategy of not using the closed deals and the secret the banks don't want you to know, is the same, and that is seller finance. One of the things that an awful lot of mentees are afraid of is, will I be approved at the bank? Will I be able to find the money? I don't have a lot of money, so how will I handle the down payment?

0:43And they don't believe that it's possible to close a deal with seller finance. You will also have board members that do not believe that you can't close a deal with seller finance. they're wrong, as they were wrong when you ended up hopefully finding law firms and accounting firms that you could get on discounted enrolled fees, which they would say, wow, never knew you could do that to get a good firm on discounted enrolled. Or if you're talking to lawyers, success fees. You can't use success or shouldn't with accounting firms because they'll tell you that they have a conflict of interest on that.

1:25So discounted and rolled. So seller finance. Why would someone want to do seller finance? Well, there's a myriad of reasons. And I was asked to create a course on seller finance. And I resisted that for a while. Good question. Procrastination, probably. I just had a lot of things going on and said, well, you know, I'll create a PDF piece on it. I will do this. I'll do that. But my marketing director and several mentees said, no, no, a course would be good on that. So yes, I have agreed to create a course and that will be starting this Tuesday. I don't know when you listen to this, but that'll be Tuesday, November 12th, 2024.

2:14If it is after the 12th, you can still join depending upon when you join. You will end up being able to go into your Kajabi account and review the courses there. They're all recorded and there'll be six live sessions every week, 6 p.m. via a live webinar and then a live Q &A after that as well. So it'll give you a chance to ask your questions. But seller finance is certainly viable. My most successful mentee, who's got 48 locations now, the first four deals he did were seller finance because he did have difficulty with banks. I've got another mentee who basically only does seller finance deals and has done a number of them, the largest of which, and I'm not telling you you're going to be able to find these deals, but if you look for enough deals, you'll find all kinds of things.

3:15It was 100%,$25 million purchase price, seller finance. And then the quickest was a mentee that did a seller finance from meeting until closing in nine days. I know that sounds crazy. All three of those are mentees of mine. So I'm going to share in the six weeks what seller finance is, what to look for in terms of the perfect prospect, how to end up determining whether or not that person is a good fit or that business is a good fit. So I'd encourage you to go over to my website, BruceWhipple.com, go to the boot camps and classes. You will see listed the course for seller finance, and you can certainly look at that, look at the details, see what we're going to cover, The title of that course is the Seller Finance Mastery Program.

4:10And then if you are interested in saving a little money, there's an early bird special, which will end on Tuesday. So as I record this on a Sunday, you only have a couple of days to do that. So I'd encourage you to take advantage of that. If you want to go directly to that, just go to brucewhipple.com forward slash sellerfinance. I will tell you that this has been the most popular course that I have put out. I was pleasantly surprised how many people have signed up for it. So I'm looking forward to that. I'm looking forward to talking to you about how to use seller finance to do your deal and hopefully allay some of the fears that you have about banks.

4:53Banks are certainly a viable option, but for many, seller finance has a whole lot of reasons why it's a better option. So that's what we're going to cover. So, again, if you just want to go to that page, we'll give you the details. Just go to brisswhipple.com forward slash seller finance.