When you call them or when they call you? It makes all the difference in the world!
Like someone said, I’ve been rich and I’ve been poor and I prefer to be rich!
I prefer to have people in pre-foreclosure call me and you will too! The best way to have a relationship with someone is to speak the same language. If they are looking for help to save their home and you are trying to talk them into selling it, you will probably not going to have a successful relationship.
Seriously, 80-90% of people want to save their homes when they fall behind in mortgage payments. Meet them where they are. Take some time to learn the ins and outs of foreclosure. Find out what options are open to borrowers at various stages of delinquency.
Hang out your shingle on the Internet and you will be swamped with pre-foreclosures, post foreclosures and everything in between. Terrified homeowners will be eager for any information, any help you can give them.
We have found they will even pay for your help! Set up a group teleseminar on saving your home from foreclosure and charge them to attend. Make sure you give great information. Go to http://ClickBank.com become an affiliate for books on stopping foreclosure, homeowners will buy them from you.
You say you are out to buy foreclosures, not help people stay in their homes? How many deals did you do last year? How much money did you make? What if you had 231 distressed homeowners contact you over the course of a year? You could make money even from those whose houses you did not buy!
Of course, there will be some people who just can’t qualify for any of the programs to keep them in their homes, they must sell. Who do they have a proven, trusting relationship with, you or the jokers with the “We Buy Houses” bandit signs? You were only going to buy X number of homes in a year anyway. Now you are earning a full time income.
As crazy as this may seem, it works! We tried this approach in the Tacoma, Wa area and in 18 months, took over 21 homes subject to with no cash out of pocket, in addition to making about $27,800 from people whose homes we didn’t buy!
Try it, you’ll like it.
Bill