I’m in South Florida between Fortlauderdale, Miami. The banks are so backed up that sellers arenot really motivated to sell because they are living free. Any idea how i can make money on Foreclosures in this market? All ideas are appriciated.
Thanks
Pre-foreclosure deals don’t just fall off trees. If it’s not one reason they’re not motivated, there’ll be other reasons. :banghead
Denial and dishonor are two motivating factors for not responding to your offer. One believes that things will turn around. The other believes that he does not owe anything, since he’s in default (think about that mentality for a while).
Either way, you need to sift past these types to the ones that are too honorable to steal, and too realistic to believe they can recover without moving on.
Meanwhile, yes, I have an idea, but you might not like it. It’s called ‘keep looking.’ :biggrin
Dig deeper.
Increase your exposure.
Hand out cards.
Put sign on car: “If you’re late, I’m just in time!”
Mail to expired listings.
Advertise offline.
Advertise online.
Talk to bankruptcy/trustee/divorce attorneys.
Subscribe to Corelogic and get addresses for fresh NOD victims (Sift out the upside down deals).
Mail some more.
Did I mention, “Keep looking?”
:beer
Hi,
REO properties bank just recieved after foreclosing! I guarantee the banks and lenders want to sell REO's!!!!!!!!!!!!!
GR