I have bought a few foreclosure in the past few months. All of which were refered to me by another investor or friend. I would like to do more foreclosure/distressed property investments. Recently I joined Realtytrac.com. I have been searching all around my area for lists of pre-foreclosures. Usually I will find a contact phone # for the owner and give the owner a call. This method has NOT yet been affective. Is calling the owner a bad approach? Or should I just keep trying? Do any of you have any advice on how to better make contact with the owners during this sensitive situation? Thanks in advance for any and all advice. -Paul
You must remember that the person in foreclosure is also suffering from depression, and they are extremly emotional!!!
Send them a letter that you have typed. Tell them that you are interested in buying their property and would like to speak with them. Let them know that unlike others that have stopped by, Uninvited, that your respect their privacy and understand the trama they are going through. Tell them that you can get them out of this situation and all they need to do is call.
Send them up to three letters, each becoming more demanding that they need to call. Always, be nice and professional!