I’m going to go door to door today, after I compile my fresh list from the courthouse. I filter through the courthouse listings to compose props that I can purchase 70% or less FMV.
I’m going door to door for the experience. I’ll offer my free assistance for the ones who can save thier homes, and offer to save the credit of others. In general I think I’m gonna be doing alot of listening and learning.
I’m going to introduce myself and tell the owner that I’m coming from the county courthouse, and that I noticed thier name on file. I’ll ask if they knew this ( knowing they do ) and offer free assistance. The ones who can save thier house, most likely will anyway. I might be able to shave some expenses getting the loan from default. I’d offer this for free.
My main interest is in the people who can’t save thier home. This is where I know I need to tie up the property. I’m going to use an assignable contract, though I’ll buy the property myself. I use the assignable in case I get multiple deals at one time. In my contract I have a 5 business day legal review. I do this because these purchases are time sensetive, also my attorney suggested it. I know not to take any financial action untill the 5 business days are up and I have a binding contract. In other words don’t make any payments on leins or to the bank untill owning the property. The homeowner must be out as well.
My question is. Am I on the right track? Is there something else I should consider or alter? Does my approach sound about right?
Sense I don’t have a mentor, I’m just doing and learning. I’d accept reward and appreciate a mentor, but until then, I’ll learn and grow.
Thank you for reading this, I look forward to any comments.