Oh boy. So I took the foreclosure list for my area and I wrote down 15 adresses from it. Theyare all withina 7 mile radius from me. It was a hot summer day so I wore jean shorts and a white polo shirt. Maybe I should have dressed more professionally. Well I live in a presominantly hispanic community so most of the following was in spanish…“Good morning how are you doing? My name is Enrique and I was looking at a couple of properties in the area and I would like to know if you are selling your home.” oh I tried this one once, "Hey sir how are you doing, I was in the area and looking at houses that are in pre-forclosure and…Cut off I AM NOT LOSING MY HOUSE I MAKE PAYMENTS!!! slam confused I walked away. I also sometimes said “Hey how are you doing my name is Enrique and my business partner is looking to buy houses in this area, are you, or do you know anyone who might be selling their home?” people looked at me like Im crazy. I am 19 years old but I look 17, no facial hair, 6’0 tall skinny. Well, I got no leads to say the least, oh and one house had a vicious poodle outside so i walked after not being able to find an alternate entrance. So here I am at home kind of disguntled but not down! Any words of encouragment and or tops/advice are welcome lol! I know this can be done, maybe I should stick to phone to hide my youth?lol? maybe I should dress up? hmm…
Have you tried bandit signs? Newspaper ads?
A book I read on foreclosures said it is probably in everyone’s best interest- and physical safety - if you do NOT cold call or go knocking on doors with people in pre-foreclosure. Most are. . . obviously. . . in a heightened emotional state and probably in deep denial. How would you feel if you knew you were going to lose your house and someone is coming up asking about buying houses – I know I’d be very p***ed off! you saw how that one man reacted - screaming about how he makes his payments!
I agree about the bandit signs and a newspaper ad - how about formulating a letter to those on your list and follow up with a letter and your business card on a schedule - like every 14 to 21 days until it gets closer to the actual foreclosure date - when you might want to send one every 7 days. . .it keeps you in front of the person and when reality finally does hit - they’ll approach YOU since you have kept yourself available. If they don’t bite, you have done all you can do for that particular person.
This is what I plan to do -I’m going to the courthouse Weds to see what notices have been filed. Then I am going to start sending letters.
I just finished a training last weekend and was advised not to send letters to people in foreclosures, they already are receiving letters that they are tossing aside. This is what the class was advised:
-Sounds like you are wearing the right attire.
-After knocking on door step back and make a 360 degree turn (to make sure if someone inside is watching they know you are not someone of harm to them)
===you have to talk quick, not fast, quick===
-Hi my name is Enrique, I understand your situation and can put money in your pocket and save your credit. I’ve been in this business for a while and will need time to talk to you about the situation. DO YOU KNOW THE PROCESS?
(you need to explain the foreclosure process to them step by step, putting emphasis on the fact that once house sales at auction has 24 hrs to be out, if not out sheriff will put out on curve with all families belongings)
As you already know these people are in denial, everyone will not listen, just remember you can’t help everyone. Help those you can!
Hope this helps.
Hi, just my 2 cents, but I used to do direct mail campaign for diferent companies. The item we had the best success with is what I call “lumpy” mail. Include something in the envelope, it might cost a little more for postage, but if for no other reason than curiosity, statistcally people open it. and that is what you want.
At the resent GaREIA Convention, one of the speakers suggested leaving door hangers for the foreclosure prospects rather than using letters or cold calling. The idea is that the door hanger is seen as something that does not single them out as being in foreclosure since they think probably everyone in the neighborhood got one. This would also allow you to make your initial conversation over the phone, concealing your age until after you have had a chance to build rapport and gain their trust.
Just a note to let you know you have what it takes to do the business --YOU PUT YOUR FEARS ASIDE AND YOU TOOK ACTION. Learn from what you did and DO NOT let your doubts override your desires, passion and need. Way to go! You are well ahead of 99% of your peers and 99% of everybody older than you. You will go far.
Hey thank you very much Richard, and everyone else. My business cards are coming, im tryin to find out if bandit signs are illegal and i am going to place a “I buy houses fast, 555 5555” Im going to focus on bringing people MY way not the other, Hey I also have an odd request, If I did find a deal, and it was right then and there would anyone like to pm or email me their name and phone number? I might need some on the fly advice, it would be nice to have a “teammate” somewhere to help me in case of rei emergency, lol thanks Reekay10@aol.com (enrique)
I like to use a more human -non business approch.
You just strike up conversations with people then tell them your into real estate and you buy and sell houses. Make sure you look at this like it is TRULY you own company, because it will be.
And Keep at it.