Going after pre-forclosure - Posted by Curtis

Posted by Dave in NOLA on August 22, 2003 at 15:19:40:

Try opening with:

“I was doing a little research at the courthouse and I noticed that you have an upcoming real estate situation…”

This is not abrasive and will get them talking about it.

Everyone in foreclosure gets 100 postcards from people like us in the mail. They probably only get 10 phone calls. By extension, they probably only have 2 out of the 100 knock on the door. Who do you think is going to get the business???

KNOCK ON THOSE DOORS!

Going after pre-forclosure - Posted by Curtis

Posted by Curtis on August 22, 2003 at 12:04:07:

Hello all

I have been able to obtain weekly lists of Lis pendens in my area and have been mailing marketing literature to these people. I have not received a call yet (its been 3 weeks sending weekly mailings). My question to you more seasoned investors is would you call these people ? , I feel like going after these leads, and if so what (tactful sales pitch would you use to establish a relationship and maybe help solve their problem)?

Thanks in advance
Curtis

Bang on those doors. - Posted by BaldRepublican

Posted by BaldRepublican on August 23, 2003 at 08:28:39:

It’s the only way to nail these deals down.
I don’t know how many times I’ve been shown a stack of letters and postcards from other investors.
The trick is to offer to help them. “Mister Seller I see you have a problem. Can I help you” They are magic words to the ears of people in distress.

Often I’m there before the deputy even serves them.

Of course you should only go to the homes of people who are worth helping or in other words have equity unless of course you have bought one of those new courses on short sales.

Good luck and don’t get shot. My friends at work have have a pooled their money and the one who chooses the closest date to my death from knocking on doors gets the money. I hope they give a few bucks to the misses.

P.S. For all the people need a spell check for these text boxes check out iespell at download.com.

Re: Going after pre-forclosure - Posted by Brent Leach

Posted by Brent Leach on August 22, 2003 at 14:32:50:

Curtis,

You can call them, but that would be to easy for them to end the conversation. If the property looks really good I would just knock on the door.

Regards,

Brent Leach

Re: Going after pre-forclosure - Posted by Curtis

Posted by Curtis on August 22, 2003 at 15:00:19:

What would you say to the prospect “Hello I read that you are being foreclosed upon would you sell me your property”??? If this is appropriate I will, but I think this is a sensative situation that requires tact and the right words. I just don’t know what they are. HELP.

Thanks :slight_smile:
Curtis

Re: The best line I have heard - Posted by Brad

Posted by Brad on August 23, 2003 at 12:21:04:

The best approach I have heard from a local investor in my area goes something like this
knock, knock
"Hi Mr. ______, my name is ________, I understand you may have some foreclosure concerns. I realize you probably have everything worked out, but sometimes things come up at the last minute that you may need help with. I am experienced in the foreclosure process and am able to help with many issues. Hand them a business card and any other materials relevant I would be happy to discuss any possibilities with you if you like" Then either they will start talking with you or you thank them and go on your way, allowing them to decide if they will call you later.

The idea is to help them save face by assuming they have it worked out (many of them will tell you they have it worked out anyway, even if they don’t), and then leave them your number and possibly give them some other reference material, so they can refer to and feel like you are already trying to help them and not steal their house. Either, they will chose to listen to you right then and there or they may call you later. At least this way, they are not put off by an investor trying to “steal” their property.

Re: Going after pre-forclosure - Posted by MJK

Posted by MJK on August 23, 2003 at 10:03:09:

I think you should write up some sort of script and follow it while you are on the phone. If you use a script you’ll feel more comfortable and won’t be fumbling your words trying to think of what to say next.

-MJK

Re: Going after pre-forclosure - Posted by rm

Posted by rm on August 23, 2003 at 08:52:30:

Your best bet would be to write down as many ideas as you can about what your opening line should be.

If you are diligent in your brainstorming, you’ll ultimately find something that works well for you.

Keep working on this until you find something that is comfortable for you.

When you feel good about what you’re saying, you’ll see the results that you want.