Pre Foreclosure Video - What do you think? - Posted by Ryan Alexander

import · October 18, 2003, 6:02pm

Posted by Robert Campbell on October 19, 2003 at 14:14:32:

Brent,

I think a smiling, upbeat tone could be used to your advantage.

While foreclosure is surely no laughing matter, you would give a defaulting borrower hope … that there are real solutions available to solve a difficult problem … solutions that are available from you … and solutions that you are willing to share with them.

If you show true empathy and concern, you’ve got a good shot at putting yourself in the front row, center position. And that’s where you want to be.

Robert Campbell

import · October 18, 2003, 6:02pm

Pre Foreclosure Video - What do you think? - Posted by Ryan Alexander

Posted by Ryan Alexander on October 18, 2003 at 18:02:55:

My idea is to use my skill sets as a professional video producer to create a free Stop Foreclosure Video that educates people in the pre foreclosure process. The video would empathize with their situation, educates them on the foreclosure process, and offer an overview of possible solutions to their problem. One of those solutions, as we know, is to sell the property. The video would particularly highlight those advantages.
A direct postcard mail campaign would advertise the free no obligation video. It would simply request them to call or visit a website that would enable me to capture additional information on the prospect. Do you feel that this idea would offer a competitive advantage to drive pre foreclosure contacts to me?

import · October 21, 2003, 10:22am

Re: Pre Foreclosure Video - What do you think? - Posted by JT-IN

Posted by JT-IN on October 21, 2003 at 10:22:21:

Good idea… Why not use a video on your website…

One caveat of the video is that you should get some solid legal advice on the script, as to recommendations and disclaimers. Whenever you are working the pre-foreclosure market there are/may be numerous traps for you to fall into… depending upon state law…

Otherwise, a good idea… There are also business card sized “CD’s or DVD’s”, with printed message on them just as any other business card would be, that one could pop into your computer drive and see a commercial message. The cost of these vary, depending upon how many you order and the length of the message, but they were about 1 dollar apiece…

Good luck on the idea, and if you ge it going, please report back what and how you moved forward so that others can benefit from your success/experience.

JT-IN

import · October 19, 2003, 1:45pm

DVD or VHS? - Posted by Jack

Posted by Jack on October 19, 2003 at 13:45:36:

I think that idea has a lot of potential. I don’t know enough about the saturation of DVD players to have an opinon. Though I would think that DVDs would be easier to distribute and would be more likely to be played. What is your opinion?

import · October 19, 2003, 8:43am

Re: Free Video - Boosting ad response - Posted by Richard Roop

Posted by Richard Roop on October 19, 2003 at 08:43:01:

Interesting… I have mentioned this idea to a few investors. I am in the middle of laying it out for my consulting clients. I shared it with a group of investors in Chicago two weeks ago.

Here’s my idea. Hire a local real estate attorney. Interview them on video for on the “ins and outs” of how the foreclosure process works… the time table of events… their cure rights… how much time they have, etc.

Then explain 3 options: raising cash to cure, refinancing, or selling the house.

The prospect gets good info on the foreclsoure process. Most people are clueless. Some people think bankruptcy is the answer so that can be addressed.
Most will not have the ability to cure or refinance so then they can decide about selling… to you of course.
You build a good list for a series of follow ups until they do something.
You can boost the response to direct mail or classified ads. You can run an ad like this in Real Estate Wanted or Real Estate Services:

Avoid Foreclosure: Free video explains your rights and options. Save your credit or equity before it’s lost forever. 24 hour recorded info (phone number) or visit (website) or call direct (phone).

I have not tested it yet but offering a free video on postcards to a targeted list, or through cheap ads should help you build a good prospecting list.

Using ads instead of targeting a preforeclsure list is cool because you get calls from people heading for trouble but still current.

Richard Roop

import · October 18, 2003, 6:42pm

Re: Pre Foreclosure Video - What do you think? - Posted by Brent_IL

Posted by Brent_IL on October 18, 2003 at 18:42:57:

I believe that as word gets around, you’ll get a ton of requests for the FREE video from CRE investors and wannabe’s. They will then copy the video, or lend their copy to prospects.

I’ve found that many folks who are under pressure and have time constraints aren’t thinking too clearly when we talk about buying their house, but maybe they will look at a tape.

If I had your talent, I’d shoot the video and market it for sale to CRE investors nationwide. I’d keep the cash, and then go knock on the doors of local people who are on the foreclosure lists.

import · October 18, 2003, 6:17pm

Re: Pre Foreclosure Video - What do you think? - Posted by E.Eka

Posted by E.Eka on October 18, 2003 at 18:17:31:

That’s a pretty good and creative idea. You could even consider a small informercial style presentation as well. If you have the money, then the sky is the limit. Good luck with that.

import · October 19, 2003, 10:25pm

Re: DVD or VHS? - Posted by Senior C

Posted by Senior C on October 19, 2003 at 22:25:53:

DVD is a good choice, because most home computers can play back DVDs nowadays. That gives them a little more flexibility.

import · October 19, 2003, 1:26pm

Re: Free Video - Boosting ad response - Posted by Robert Campbell

Posted by Robert Campbell on October 19, 2003 at 13:26:17:

Hi Richard,

I think your video idea is solid. Well thought-out.

I can tell you are a smart marketer. I know another person - smart like you - who uses this same concept to sell his “how-to” information courses.

A little different twist, however.

He creates his own inexpensive video’s that he does at home … by himself.

He literally sets up a video camera that films himself behind a desk talking about solving a specific problem. He gives away some information, but not all.

The point is for the viewer to see a “real” person offering intelligent solutions to whatever jam they are in … or to whatever opportunity is wanting to be pursued.

If a person wants to view this important information for free, it is mailed out after the person wanting the information has sent in a fully-refundable $20.00 deposit is received.

I’m using your “interview” approach for my own video in the next 30 days or so. “How to Make $20,000 Per Month in Forclosures … Without Being a Vulture” is going to be the title of the video.

My foreclosure expert be offering great “how to” information that is based on his 30 years of experience in this area of real estate investing.

Myforeclosure expert is willing to do this for the same reason the foreclosure investor is willing to create a video for homeowners who are behind in their mortgage payments. They establish credibility in the eyes of the viewer, and that is the first step to the beginning of a business relationship.

I think the video idea really distinguishes yourself in the best possible way.

Thanks for the great post.

Robert Campbell

import · October 19, 2003, 3:51pm

the problem with this kind of thinking - Posted by rm

Posted by rm on October 19, 2003 at 15:51:35:

is that it is based on a scarcity mindset.

Many would-be inventors spend so much time burying their ideas so nobody can find/take/steal/copy them, that they miss out altogether when someone else beats them to market-

[HEY- that was MY idea!]

That energy would be better spent plunging it and producing something than trying to protect a simple idea.

Ideas are cheap and plentiful.

Putting those ideas into action… now there’s where the money is.

import · October 19, 2003, 1:44pm

Possible solution - Posted by Robert Campbell

Posted by Robert Campbell on October 19, 2003 at 13:44:55:

Brent,

To prevent illegal copying, put yourself in the video. Establish yourself as the expert. Put your own phone number at the bottom of the video.

Someone may copy the idea, but it is not likely they will copy the video.

Robert Campbell

import · October 19, 2003, 1:42pm

Re: Pre Foreclosure Video - What do you think? - Posted by Jack

Posted by Jack on October 19, 2003 at 13:42:46:

The laws vary too much from State to State for investors from other States to be interested in directly copying Ryan’s video. Additionally, Ryan would almost certainly include references to his own company in the video in such a way that it would be difficult to edit out.

import · October 19, 2003, 12:34pm

Re: Pre Foreclosure Video - What do you think? - Posted by Senior C

Posted by Senior C on October 19, 2003 at 12:34:01:

Good insight Brent. That’s exactly what would happen. When you’re dealing with this much money (such as real estate), the ethics of not copying someone’s video goes right out the window for most people.

I also have the same skill set in video, and another idea to protect yourself may be to create the video and just run a commercial through a local affiliate network during the later hours. It’s much harder to copy, and you’ll get exposure. Just a thought.

Also, doing DVDs is much safer, since they can’t be copied easily at all. Anybody ran a billboard ad before? I also can create my own art for a billboard, and would only have to pay to have it put up there. Wondering how good that would do getting prospects. I still remember the “We Buy Ugly Houses” billboard I saw like 2 years ago. That leads me to believe it works if you have something catchy.

import · October 18, 2003, 6:50pm

Yep - nt - Posted by Hank FL

Posted by Hank FL on October 18, 2003 at 18:50:40:

nt

import · October 19, 2003, 4:32pm

Re: the problem with this kind of thinking - Posted by Brent_IL

Posted by Brent_IL on October 19, 2003 at 16:32:07:

Absolutely true.

My thought wasn’t intended to invoke a limitation so much as it was a comment on the allocation of resources toward profit. No reflection on Ryan, but this could devolve into a project that consumed more time and effort than it’s worth. Especially, because when it’s finished, you still have to mount a mailing campaign.

About 25 years ago, Joe Gandolfo wrote a book titled, “Ideas are a dime a dozen, but the man who puts them to work is priceless.” I read somewhere else that bad ideas are a dime a dozen, but good ideas are one-in-a-million. I?ve had both kinds, but the bad ideas seem to predominate. Luckily, the bad effects have been somewhat contained of late.

import · October 19, 2003, 2:02pm

Re: Possible solution - Posted by Brent_IL

Posted by Brent_IL on October 19, 2003 at 14:02:22:

Excellent idea, although I’m not so sure that my smiling face would be seen as welcoming and conducive to good will. Thanks, Robert.

Brent

import · October 18, 2003, 7:23pm

Re: I 2nd that Yep! (nt) - Posted by RichV(FL)

Posted by RichV(FL) on October 18, 2003 at 19:23:50:

$

import · October 19, 2003, 8:16pm

Re: the problem with this kind of thinking - Posted by rm

Posted by rm on October 19, 2003 at 20:16:27:

No reflection on Ryan, but this could devolve into a project that consumed more time and effort than it’s worth. Especially, because when it’s finished, you still have to mount a mailing campaign.>>

True, true.

In fact, he might consider whether his current marketing results justify a complete overhaul.

After all, the test could flop.