OfflineI have a question that’s more on the lines of an idea. I have heard Dean’s conference call about finding a motivated buyer and it was great because that was my main problem before I got started. My idea derived from the conference call to go in find foreclosures in my area knowing that the bank owns them and wants to get them off their hands so that they want have to pay the taxes or the bank already got another party involved to find a buyer. The idea is to contact the bank or the other party and ask what it is that they are looking for in a buyer or what qualifies a person to purchase the house and WHEN I FIND buyer(using Dean’s automated foreclosure)to ask for a 2.5% finder fee. Does this make since? I heard Deans conference call before purchasing the book in upon reading the book(haven’t finished) the idea popped in my head and I have not been able to get it out. Since I haven’t finished the book do you the reader believe I am rushing into this?
foreclosure or preforclosures
Posted on: Sat, 05/31/2008 - 05:27
You can make money on these if you low ball the offers and the bank accepts. Some are willing to take a big loss to get them off their books. But again you got to have proof of funds lined up with those offers and an estimate of repairs would help justify your offer.
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Agree with all this.. and Ill add one more. Think yours is the only investor letter arriving to that pre-foreclosure?? Guess again.. Yours has to stand out. And that may or may not be enough.
(A lot of these owners are in denial and just flat out tired of getting "investor" letters.) But it really does only take 1. Great profit margin potential here.
I will go with the flow,which is against the norm for me. For sure get further into the book before you dive into something. I am in the mentor program now and I am still listening to the "Think a little different" audio series. I put in 5 to 10 hours a week, after working 12 hour days. So take your time and let it all sink in before you leap. Tomorrow there will be 10 more new foreclosures in your area. Good Luck....Jan
ALWAYS WALK IN THE SUN
You are great member sully , i am really impressed from your Spirit and attitude you got on this website .
I have been working really hard on finding investors for the last couple of month, and now i have about 45-50 Buyers ready for me to send them deals .
I understand that Forclosures are the way to go , but also they require at least 1% Earnest Money (as far as i know ), and that could get kinda Expensive for me right now.
SO I was wondering what do you think are the best ways to find Pre-forclosures?
Thanks
nnnn