🎯 Tier A — Multifamily SF

Call Playbook — Tier A: Multifamily Seller Finance

⚠ Live-call refinements (2026-05-16)

Validated against ~10hrs of Richard's actual live wholesale streams (4 captioned videos, ~30K caption lines). See full validation report. Apply these refinements before calling — they reflect what Richard does on live calls, not just what the course teaches.

✎ The DSCR walkthrough is NOT the live pitch

Course teaches DSCR-fails-at-7% as the lead. In ~30K caption lines from real calls, Richard never opens with DSCR. His actual openers are conversational: - "Hi [name], my name is Richard Taylor. My acquisitions manager told me I should hop on a call with you about this one. See if we could figure something out." [CzUeF6SASGA @ 0:36:56] - "What can you tell me about this? We got a quadplex. Are we occupied? Looks renovated." [CzUeF6SASGA @ 0:37:06] - "I was told that you were open to some seller financing. Is that the case?" [c2hNH6u7D0k @ 1:08:27]

Refinement: Lead with "What can you tell me about this?" → listen → drop the SF formula when the door opens. Keep DSCR as a fallback explanation when the agent asks "why are you proposing this?" — not the lead.

✨ NEW — the 40%-of-rent rule (CRITICAL, missing from playbook)

Richard's verbatim muscle-memory formula, said near-identically across 2 calls:

"10% over list, 10% down, 40% of of rent in monthly payments." [c2hNH6u7D0k @ 2:27:52] "I'll give you 80,000 on seller finance terms. So 80,000, 10% down, 40% of whatever it rents out for in monthly payments, 7-year term." [c2hNH6u7D0k @ 1:11:34]

This is the heuristic he uses in his head. Monthly payment = 40% of expected gross rent. Anchors to rent reality, pre-clears DSCR for the end-buyer (60% covers PITI + cash flow), skips amortization-table math in conversation. Use this on every live call.

✨ NEW — the 3rd lever: extend amortization, not drop price

Playbook treats the trade as binary (0%+premium OR rate+asking). Richard's actual move when seller wants a rate:

"I'm trying to keep my down payment low... I'm going to extend my amortization rather than a normal 30-year. I probably do 35 40 years. So even though it's a 5% interest rate, most of my payment will just disappear to interest." [u-ov-X0Cc68 @ 0:19:56]

Add as option C in counter-offer patterns: asking + 5% + 35-40yr amort. Keeps down payment low while giving seller the rate they want.

✗ DE-EMPHASIZE — capital gains tax frame

Zero hits in ~30K caption lines. Course material, not live practice. Drop from the voicemail. The actual live voicemail [CzUeF6SASGA @ 0:19:15] is ~30 sec, no CGT mention.

✎ Voicemail — trim from 90s to ~30s

Real Richard voicemail keeps: specific property name, social-proof ("a number of these around [region]"), empathy line if hardship noted, soft positioning ("structure something creative"), closer ("I'd love to hop on a phone call"). Drops: CGT, interest-rate paragraph, premium-over-asking math.

⚑ NO live evidence for (untested in these 4 videos):

First-touch listing-agent cold calls on MFH 5+ unit (playbook's primary use case)
5-year-vs-7-year balloon on MFH specifically (7 confirmed for SFH; MFH untested)
"DSCR wall" callout as a sales weapon to agents

Typical timeline: First call → verbal yes 5-14 days · End-to-end 30-50 days · See pipeline-timeline.html for day-by-day.

Trigger / When to use this script

Property type: 5+ unit multifamily (MFH, plex, small commercial)
Price range: $350K–$1.4M asking
DOM threshold: 90+ days (ideally 150+)
The signal: Property is listed for $350K-$1.4M, has 90+ days on market. Real investor buyers must use DSCR loans. At 7%+ rates, the DSCR fails — you're the only way this deal closes. Call immediately.

Source: deal-criteria.md | SF Course L88-150

Pre-call checklist (60 seconds)

☐ Zillow: Verify asking price, unit count, DOM, gross rent estimate
☐ Calculator ready: Pre-compute offer ($asking + 10%), 10% down payment $, PITI at 7.25% DSCR (to show why it fails)
☐ Mental check: "This property DSCR-fails at standard rates — I am the only path to a sale." (This is the Checkmate frame.)
☐ Property math: Know approximate gross rent. If rent data missing, use $100-150/unit estimate.
☐ Balloon clarity: This is a 5-7 year balloon (5yr preferred for MFH — longer doesn't help; shorter kills end-buyer pool).

Sources: SF Course opening section (L1-50) | outreach-scripts.md "A2. The Live Multifamily Call" setup

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

Length target: 90 seconds. Copy-paste ready.

"Hey [agent name], my name's Tim. I'm calling you about [address] in [city]. 
Real interested in this one — I've got some capital gains I need to pour 
into a new investment.

I'm wondering if your client's doing seller finance. I saw this has been 
on market for [DOM] days — that's probably because interest rates are 
higher than they've been in 20-25 years. Nobody can cash flow with the 
loans that are available, and at the same time, nobody has [price] in 
cash laying around they want to send.

So what I do is I offer people over their asking price over a 5-year 
period. I'd be your end buyer on this one — try to get you [asking +10%] 
over a 5-year period of time. We do a multi-six-figure down payment 
while giving your client the majority of what this property makes as 
a rental per month.

I wanted to give you a call and see what the chances are of your client 
wanting to avoid the capital gains tax they'd pay if they sold for cash, 
and do some seller financing where they're going to make hundreds of 
thousands more.

I'll also shoot you a text. Thanks so much. Bye."

Why this works: Three frames in 90 seconds: 1. Capital gains tax avoidance (emotional hook) 2. Interest rate excuse for the structure (context) 3. Implicit social proof ("what I do") — normalizes the pitch

Source: outreach-scripts.md "A1. The Multifamily Voicemail" | SF Course L200-250

The opener — LIVE call (when agent picks up)

Lead with the DSCR math before asking about SF. This is the Checkmate.

"Hey [agent], it's Tim — calling about [address]. You have a moment?

[Yes]

Great. So I've run the numbers on this one and I want to walk you through 
exactly what I'm seeing — because I think it explains why this property 
has been sitting for [DOM] days.

This is a [N]-unit property. Anyone buying this is an investor — you can't 
get an FHA loan on 5+ units, so retail buyers aren't even in the conversation. 
Investors need a DSCR loan, and at today's rates — about 7.25% — the math 
just doesn't work.

The property rents for around [gross rent]. Your client's asking [price]. 
At 80% LTV, 7.25%, 30yr — I'm looking at roughly [P&I]/month just on the 
loan. Add taxes and insurance, you're at [PITI]. After vacancy and 
management, you're netting negative every month. The lender hands me 
a big red X — DSCR doesn't clear.

So the way this gets done — really the only way right now — is if your 
seller considers taking payments on their equity over time.

What that looks like: we'd offer [asking + 10%]. Multi-six-figure down 
payment up front. The balance at 0% amortized over 30 years, with a 
5-year balloon. Your seller gets their full asking plus a premium, 
their commission paid up front, and the majority of what this rents 
for hitting their account every month for 5 years.

Was the seller hoping for a house-hacker? Because any investor buying 
this is going to hit the same DSCR wall I just described. Not sure I'd 
be the best fit for you here, but I saw the days on market and wanted 
to give you a call."

[Pause. Let it land.]

Critical timing: The DSCR walkthrough IS the pitch. Don't skip it. Agents remember numbers.

Source: outreach-scripts.md "A2. The Live Multifamily Call" | SF Course L400-500 | Pitch 9 "2.1M Dollar Deal" (15:16)

Qualifying questions (in order)

Ask these AFTER the DSCR math has landed:

"Has your seller mentioned seller finance before?" - Why: Determines if you're planting a seed or reopening a door. If yes → they've thought about it.
"What's the seller's situation — are they retired, or do they have another property they're moving into?" - Why: Motivation check. Retired = wants cash flow. Moving = wants certainty. Both favor SF.
"If we could structure this so they avoid capital gains tax AND make more money than a cash sale, would that be worth exploring?" - Why: Lock in the economic frame. This is your qualification gate.
"Are they flexible on structure, or are they firm on cash-only?" - Why: This tells you if you're in a "let me run it by them" conversation or a "no" conversation.

Source: SF Course L600-700 (qualifying calls section) | outreach-scripts.md objection handling

The pitch (the exact structure)

When they say "let me run it by the seller," this is what you send:

OFFER STRUCTURE:
- Purchase Price: [Asking + 10%]
- Down Payment: 10% ($ amount)
- Interest: 0%
- Amortization: 30 years
- Balloon: 5 years (at year 5, balance is due OR refinance)
- Commission: Paid at closing from down payment
- Closing costs: Covered

MONTHLY CASH FLOW TO SELLER:
- Principal + interest = $[X]/month
- This equals approximately [X]% of gross monthly rent
- Seller keeps a lien on the property until balloon/payoff

WHY THIS WORKS FOR THEM:
- They get [asking + 10%] — above market
- They avoid capital gains tax (seller's CPA structures this)
- They get paid like a loan servicer, every month for 5 years
- Zero risk: property is collateral (if we stop paying, it reverts to them)

What NOT to do: Do NOT offer 7yr balloon on MFH $350K+. Longer balloons are attractive for cheap SFH (Tier B) because they're harder to refi, but MFH buyers have institutional options — 5yr keeps them hungry.

Sources: SF Course L1000-1100 (structure mechanics) | outreach-scripts.md "TIER A" | Pitch 9 walkthrough (call library)

Top 5 objections + verbatim rebuttals (Tier A specific)

Objection 1: "Seller wants cash only"

Agent quote: "My seller needs cash. This isn't going to work."

Rebuttal (verbatim):

"I totally understand — and that's exactly what a lot of sellers say 
when they haven't been walked through the math yet.

The question is: what's more important to them — how they get paid, 
or what they get paid? Because with this structure, they get [asking + 10%] 
plus a multi-five or multi-six-figure down payment up front to use 
toward their next property. That's more than any cash buyer is going 
to offer right now.

Would it be worth a 10-minute conversation so they can hear the full 
picture and make an informed decision?"

Why it works: Reframes "cash" as a HOW, not a WHAT. Down payment + monthly = they ARE getting paid.

Source: outreach-scripts.md objection handling

Objection 2: "We have other offers"

Agent quote: "I've got other investors looking at this. How does your offer compare?"

Rebuttal (verbatim):

"That's great to hear — I hope one of them works out for your seller.

Out of curiosity, are they conventional? Because I'd love to know how 
they're clearing DSCR at 7.25% on this one. If they're house-hackers, 
that changes things — but if they're investors, they're going to hit 
the same wall.

Our offer is [price + 10%] — above asking. The structure's different, 
but the number isn't."

Why it works: Calls out the hidden problem (DSCR failure). Other offers aren't actually viable.

Source: outreach-scripts.md objection handling | SF Course L700-750 (DSCR wall context)

Objection 3: "The interest rate is too low / 0% is crazy"

Agent quote: "2% is too low for them to accept. That's not realistic."

Rebuttal (verbatim):

"I hear you on the rate. But here's the thing — if you look at the 
all-in number on an offer of $[asking + premium], the effective rate 
when you account for the premium over asking is more like 8 or 9%. 
The 0% on the note is just how we structure it — the premium pays 
the interest.

So in a typical mortgage at today's rates, on a [asking] property, 
you'd be making interest on [asking] at 7%. With our structure, you're 
making interest on [asking + 10%] at an effective 8-9%. You come out 
ahead.

Want me to break down the math?"

Why it works: Shows the 0% is NOT a discount — it's a reframe. The premium IS the interest, paid upfront.

Source: outreach-scripts.md objection handling (Disliking 2% Interest Rate) | SF Course L1150-1200

Objection 4: "What if we default — can you just walk away?"

Agent quote: "My seller's worried you'll stop paying and disappear. How is this protected?"

Rebuttal (verbatim):

"You're right to ask about that — the quitclaim deed is actually 
structured to protect YOU, not me. If we miss payments, the property 
reverts back to your client. Meanwhile, they've kept the down payment 
and every monthly payment we've made up to that point.

We're not walking away — we have skin in the game. The down payment 
is real money. The monthly payments come from the tenants we place. 
This isn't a 'buy nothing down and disappear' scheme — your client 
keeps the property as collateral, and we're underwriting carefully 
because if we lose the property, we lose our down payment too."

Why it works: Reframes security as mutual, not one-sided. Seller keeps collateral.

Source: outreach-scripts.md objection handling (Disliking 2% Interest Rate)

Objection 5: "I'm too busy to look at this right now"

Agent quote: "Call me back in a few weeks — I'm slammed."

Rebuttal (verbatim):

"I get it — totally. Tell you what: I'll re-forward you the terms at 
the top of the email and include the contract on top of that. Look at 
it whenever you have a minute. No rush. 

I'm not driving by properties, my company sends out about a thousand 
texts per day — I'm having conversations like this back to back. So 
you don't need to feel rushed. But the property's been on market 
[DOM] days, so if it stays there another couple weeks, I'd love to 
revisit. Sound fair?"

Why it works: Lowers urgency for THEM, but raises stakes for the property. No pressure, but time.

Source: outreach-scripts.md objection handling

Counter-offer patterns (Tier A specific)

When seller wants MORE than 10% down

"I hear you. We can go to 12% if that makes them more comfortable. 
But I'd push back a little: the more we put down, the harder it is 
to attract an end buyer, which means longer to close and more days 
on market for your seller.

The structure at 10% is the most marketable. That's how we get this 
off their hands fastest."

CRITICAL: Do NOT exceed 10% on MFH $350K+. The downstream buyer's cash-on-cash return collapses. This is a hard boundary.

When seller wants to ADD an interest rate

"If they want interest, the structure shifts — we'd come in at or near 
asking price instead of the premium. That's the trade.

So the question is: do they want [asking + 10%] at 0%, or [asking price] 
at 4-6%? Either works — but we can't do both. We need the premium to 
justify 0%, and we need 0% to justify the premium."

Source: outreach-scripts.md counter-offer patterns

The close — defining "verbal yes"

A "yes" on Tier A does NOT mean they accept your offer today. It means they're willing to present it to the seller.

Success criteria: - ☐ "Let me run this by my seller." - ☐ Agent agrees to forward your numbers + contract - ☐ Agent commits to follow-up call within 24-48 hours - ☐ Agent takes down your contact info and says "I'll be in touch"

What you say to confirm:

"Perfect. I'll shoot you the contract and one-pager to your email right now. 
Give your seller a couple hours to review, and I'll check back with you 
tomorrow afternoon. Sound good?"

Do NOT push for a verbal commitment on the deal itself. You're asking for a decision opportunity, not a deal.

Success metric for this call type

A good Tier A call ends with: "Let me run this by my seller and I'll call you back."

That IS the win. The property is trapped in your offer, and you get the follow-up call to handle the objections when the seller has questions.

If you get a "no" on the first call, it means: (1) seller wants cash, (2) seller already has a deal, or (3) agent didn't sense urgency in your pitch. You can still follow up in 1 week.

Sources

Course transcripts: - SF Course L1-150 (Tier A intro + why MFH SFH matters) - SF Course L400-500 (DSCR math script) - SF Course L600-750 (qualifying questions) - SF Course L1000-1150 (structure mechanics + counter-offers)

Best call recordings to listen to before your first calls: 1. Pitch 9 - "$2.1M Dollar Deal" (15:16) — full MFH walkthrough, DSCR math in context https://bkmfdmlzkumnsytpztio.supabase.co/storage/v1/object/public/call-recordings/3d3cf27d-39be-4078-813b-1edb74d381da/1777608397153-33.mp3

Pitch 13 - "1.7M Dollar Multifam" (12:26) — cleaner DSCR explanation https://bkmfdmlzkumnsytpztio.supabase.co/storage/v1/object/public/call-recordings/3d3cf27d-39be-4078-813b-1edb74d381da/1777608383399-29.mp3
Pitch 23 - "Offering 100k Above Asking" (26:11) — over-asking frame + negotiations https://bkmfdmlzkumnsytpztio.supabase.co/storage/v1/object/public/call-recordings/3d3cf27d-39be-4078-813b-1edb74d381da/1777608352297-19.mp3

Verified closed deals using this script: - Punta Gorda FL (MFH) — $320K asking, SF accepted (SF Course L88-91) - Richard's completed Pitch 9 ($2.1M) — executed per call recording - Richard's completed Pitch 13 ($1.7M multifam) — executed per call recording

Common Tim mistakes to avoid

Skipping the DSCR math. If you go straight to "seller finance," agents tune out. The DSCR walkthrough proves it's not arbitrary — it's the only solution.
Offering 12%+ down to seem aggressive. You'll sabotage the end buyer's cash-on-cash. Stick to 10% and explain why to the agent.
Assuming silence = no. On Tier A, a 48-hour pause is normal. Follow up once. Twice is OK if it's been a week.
Using "offer is subject to inspection" language. You're not a retail buyer. Say "contract," not "offer." Agents need finality language.
Forgetting to mention commission paid at closing. Agents care about certainty of their 6%. Lead with it: "Commission paid from down payment at closing."

Source: SF Course L200-300 (student corrections section) + outreach-scripts.md notes