Call Playbook — Fix & Flip / Cash Deal

⚠ Live-call refinements (2026-05-16)

Validated against ~10hrs of Richard's actual live streams. See validation report. Honest gap: cash is thin in these 4 streams — most volume is creative finance. Caption batch only had partial cash-call evidence.

✨ NEW — 70% rule is the CEILING, not the target

Richard discusses a real cash offer in coaching: "$72, seeing if I can flip that. ARV is 200, rehab 45." [c2hNH6u7D0k @ 1:12:32]

Reverse math check: ARV 200 × 0.70 = 140; 140 − 45 = 95 max offer. He offered $72 — well below the 70% rule. He's leaving margin / hedging ARV uncertainty.

Implication: 70% rule is the CEILING. Offer below it in practice. Target = 60-65% of ARV minus rehab on Detroit-style flips.

✓ VERIFIED — the "no inspection / no contingency" finality

Playbook: cash = no contingencies. Live confirms verbatim usage:

"I don't need to inspect the property, so there's no chance of me going under contract with you and canceling the contract. We're just going to get it done." [c2hNH6u7D0k @ 0:21:13]

Use this exact finality language on cash offers. Works.

✓ VERIFIED — short cash voicemails

Live cash-call voicemails are indeed short (~20-30s). Standard format (paraphrase, from [CzUeF6SASGA @ 0:36:11]): "Hi [name]. I just gave you a call about the properties you have. Let me know if that's something you'd like to discuss. Thank you."

⚑ NO live evidence (cash calls under-represented):

• The "your seller has equity / they shouldn't accept cash" objection
• The "we'll close in 14 days" specific timeline (he says "we're just going to get it done" but no quoted day count)
• Proof of funds delivery mechanics (mentions Today LLC as a POF vendor [c2hNH6u7D0k @ 0:20:36] but no script around it)

Typical timeline: First call → verbal yes same call to 3 days (cash is binary) · End-to-end 14-21 days (fastest) · See pipeline-timeline.html.

Trigger / When to use this script

• Property type: SFH, duplex (distressed condition acceptable, even preferred)
• Price range: <$80K (preferably <$60K for margin)
• The signal: Property is in cheap market (Cleveland, Detroit, Flint OH), needs significant rehab, listed below $100K. You're a cash buyer with conviction.
• The play: Buy at 70% of after-repair value (ARV), fix, flip or rent. No seller financing, no complexity — just cash.
• NOT for: Properties that already cash-flow. Use those as Section 8 rentals instead (separate playbook if needed).

Source: Cash Course intro | deal-criteria.md "Tier C" (cash-comparable)

Pre-call checklist (60 seconds)

• ☐ Zillow/BBC: Confirm property type, condition notes (roof, foundation, major systems).
• ☐ Calculate ARV: What would this property rent for FIXED? Use comp rents from the area.
• ☐ Rehab estimate: $10-20K (modest), $20-40K (moderate), $40K+ (major). Be honest — you'll be out of pocket.
• ☐ 70% rule: 70% of ARV - rehab costs = your max offer. Have this number ready.
• ☐ Mental clarity: "This is a cash play. Fast. No negotiation. I win on the purchase price, not structure."

Sources: Cash Course L1-150 | deal-criteria.md "Tier C" | completed deals benchmark (Cleveland flips section)

The opener — VOICEMAIL (if agent doesn't pick up)

Length target: 20-30 seconds. Short, punchy, cash-focused.

"Hey [agent name], this is Tim — I'm an investor looking at [address]. 
I've got some questions about the seller's situation before I run 
numbers with my team.

Give me a call back at [number] — won't take long. Thanks."

Why it's short: Cash buyers don't need the long sell. Agents know what cash is.

Source: outreach-scripts.md "Voicemail Script (Tier C — Cash buyer)" | Cash Course L400-450

The opener — LIVE call (when agent picks up)

Qualify HARD. You're looking for distress, not just price.

"Hey [agent], it's Tim. Thanks for picking up.

So I looked at [address], and before I run the numbers, I want to 
understand the seller's situation. Are they flexible on price, or 
pretty firm at [asking]?"

[Response]

"And condition-wise — I know the listing mentions [roof/foundation/etc] 
— is that the main issue, or are there other things?"

[Response]

"Got it. Here's what I do: I buy properties in cash for investors who 
want to fix and hold, or flip. If the numbers work, I can move fast — 
no contingencies, close in 14 days. Does that fit what your seller needs?"

[If yes:]
"Perfect. Let me run the numbers and I'll get back to you with an offer."

[If no / they want traditional:]
"No problem. If it doesn't sell traditional in the next 30 days, give me 
a call back. Thanks."

Key difference from SF: You're NOT pitching structure. You're finding out if they want CASH and SPEED.

Source: Cash Course L400-500 | outreach-scripts.md "C1. First Contact — Cash Buyer Approach"

Qualifying questions (in order)

Keep these short. Cash deals don't need long qualifying — price and condition matter most.

1. "What's the actual condition — what needs to be fixed?" - Why: Determines your rehab estimate, which determines your offer.

2. "How long has it been on market, and is the seller motivated?" - Why: DOM 60+ = they want out. Newer listing = less urgency. This affects your offer level.

3. "Is there a realtor involved, or is it for-sale-by-owner?" - Why: For-sale-by-owner (FSBO) sellers move faster. Realtor adds 60 days and complexity.

4. "If I came in with cash and could close in 14 days, would that be valuable?" - Why: Qualification gate. If yes, you've got your buyer. If no, skip it.

Source: Cash Course L500-600 | outreach-scripts.md buyer-facing calls section

The offer (the 70% rule, precisely)

This is non-negotiable. Richard's math.

MAX OFFER = (ARV × 0.70) - Rehab Estimate

Example:
- Property after repair value (ARV): $140,000
- 70% of ARV: $98,000
- Estimated rehab: $25,000
- Your max offer: $98,000 - $25,000 = $73,000

If asking is $85,000 and your max is $73,000, you offer $73,000.
Seller says no → next deal.

You DO NOT negotiate up from the 70% number.

Why 70%: - Covers your assignment fee (if wholesaling) or your cash holding cost (if keeping) - Covers the rehab overruns (you'll always go 10% over) - Leaves margin for the end buyer (or your rental profit)

What you say when submitting the offer:

"Here's my analysis:

After-repair value (what it'll be worth fixed): $[ARV]
70% of ARV: $[70% calc]
Rehab estimate: $[rehab]
My max offer: $[offer]

This is my number. I can close in 14 days, no contingencies, cash.
If your seller is interested, I'll get financing verified and move 
to title company."

Tone: Not aggressive. Matter-of-fact. This is how you buy.

Source: Cash Course L700-800 (70% rule section) | deal-criteria.md cash offer rules

Top 5 objections + short rebuttals (Cash specific)

Objection 1: "Your offer is way too low"

Agent quote: "Seller's asking $[X]. You're offering $[Y]. That's $[gap] less."

Rebuttal:

"I hear you. The gap is real. But here's the math: to buy at [asking], 
the buyer either needs to finance (and hit rehab costs on top), or pay 
all-cash. No lender touches a property that needs this much work.

I'm offering what's actually available in cash for a distressed property 
in this market. If your seller wants higher, they need a retail buyer 
willing to pay for the work — and that'll take 60+ days on market.

I'm the speed buyer. Take it or wait."

Why it works: Shows you're the ONLY actual buyer for that property. No one else is offering cash on a fixer.

Source: Cash Course L800-850

Objection 2: "Why should I sell to you instead of listing it?"

Agent quote: "If I list it, someone might come in higher."

Rebuttal:

"Totally fair. You might. But you'll also spend 60 days on market, 
deal with inspections, appraisals, financing contingencies — and at 
the end, your buyer is the same guy I am, paying the same number.

The difference: you wait 90 days, I close in 14. Your seller gets the 
cash to their next goal faster. That's the trade."

Why it works: Honest. Shows you understand the realtor position but offer speed.

Source: Cash Course L850-900

Objection 3: "The seller has equity — they shouldn't accept cash"

Agent quote: "If the house is worth $[ARV], they should wait for market price."

Rebuttal:

"On a fixed-up property, sure. But this property in its current state 
doesn't have traditional buyers. It's a distressed buy. 

The only bidders for a house that needs $[rehab] are cash investors 
like me. I'm offering the market price for a distressed property. When 
it's fixed, sure, higher value. But as-is, this is the market."

Why it works: Separates distressed property value (now) from retail value (later).

Source: Cash Course L900-950

Objection 4: "Can you go higher on the offer?"

Agent quote: "What's the most you can do?"

Rebuttal:

"I've already shown you the math: 70% of fixed value minus rehab. 
That's my number. I don't negotiate on the formula because my margin 
is tight.

If that doesn't work for your seller, I respect it — but I can't go 
higher and still make the deal work."

Why it works: Absolute boundary. Cash investors don't have room for emotion-based negotiation.

Source: Cash Course L950-1000

Objection 5: "How do I know you'll actually close?"

Agent quote: "Sellers want proof you have the cash."

Rebuttal:

"Absolutely. I'll send you proof of funds from my bank before we sign 
anything. And we'll use a title company — the title company verifies 
the funds before we close. You're protected."

If they push: "I can have proof of funds to you by end of day. What amount should I show?"

Why it works: Removes the doubt. Proof of funds is standard for cash.

Source: Cash Course L1000-1050

The close — defining "verbal yes"

Cash deals close FAST. Once they say yes, you move immediately.

Success criteria: - ☐ "Let me run it by the seller" - ☐ Agent takes your contact info - ☐ Agent agrees to respond within 24 hours (cash deals move faster than SF) - ☐ You send offer + proof of funds same day

What you say:

"Perfect. I'll email you the formal offer and my proof of funds right now. 
Tonight, walk them through it. I'll call you tomorrow morning — if they're 
interested, we can sign by end of day and close within 14 days. Sound good?"

The key difference: With cash, there's no "think about it" phase. Either yes or no, fast.

Success metric for this call type

A good cash call ends with: "I'll present it."

If they say "yes," you're closing title in 14 days. If they say "no," you're moving to the next deal in 2 minutes.

Cash is the simplest deal type. Keep it simple.

Sources

Course transcripts: - Cash Course L1-150 (what is cash / why Section 8) - Cash Course L400-500 (first contact scripts) - Cash Course L700-900 (70% rule + offer strategy) - Cash Course L1000-1100 (proof of funds + closing)

Best call recordings: 1. Cash Pitch 1 (4:31) — fast, clean offer https://bkmfdmlzkumnsytpztio.supabase.co/storage/v1/object/public/call-recordings/cash-deal/Cash_Pitch_1.mp3

2. Cash Pitch 2 (13:57) — deeper dive, multiple properties https://bkmfdmlzkumnsytpztio.supabase.co/storage/v1/object/public/call-recordings/cash-deal/Cash_Pitch_2.mp3

3. Voicemail - "Leaving a Cash Offer" (1:27) — short voicemail reference https://bkmfdmlzkumnsytpztio.supabase.co/storage/v1/object/public/call-recordings/cash-deal/Voicemail_-_Leaving_a_Cash_Offer.mp3

Verified closed deals: - Cleveland distressed flips (multiple, <$80K buys) — Cash Course L626-700 - Detroit duplex flip — Cash Course L633-642 - Park View Cleveland flip — Cash Course L955-963 - Wholesale @ $47K (assigned to another buyer) — Cash Course L949-953

Common Tim mistakes to avoid

1. Negotiating UP from 70%. You'll kill your margin. If they won't take 70%, walk. Next deal.

2. Not verifying rehab upfront. You'll be $10K+ underwater when you start work. Get a contractor buddy to walk the property before you commit.

3. Underestimating the rehab. Always add 10-20% buffer. Permits, surprises, contractor delays — they're real.

4. Not sending proof of funds immediately. Agents trust speed. No proof of funds = you look like you're fishing.

5. Trying to finance the rehab. This is CASH. If you need to HML the fix, it's not a cash deal — it's a fix-and-flip with debt, which is a different strategy.

Source: Cash Course L1100-1200 (mistakes section) | completed deals benchmark

When to use the Section 8 angle (bonus)

If the property is in a known Section 8 area and will rent well once fixed:

"Quick note: this property, once fixed, is in a solid Section 8 market. 
Landlords in this area are actively looking for rentals. If your seller 
wants to hold instead of flip, cash-flow could be [rough estimate]. Just 
wanted them to know the upside."

This adds optionality without changing your offer. If they want to rent instead of sell, you might pivot to a rental hold. But your offer stays the same.

Source: Cash Course L1050-1150 (Section 8 angle section) | outreach-scripts.md buyer outreach section