OfflineI love it when my trained doorknockers call me with an appointment to talk with a homeowner! In the pre foreclosure side of my business we use a three pronged system to contact homeowners that have been issued a notice of default (N.E.D. in Colorado)
1. Phone call if we can find a phone number.
2. Mailer (least productive)
3. Door knock (very productive!)
Saturday one of my doorknocking couples called with a 2:00 Appointment to see a homeowner that was 3 weeks from her auction date.
She just wanted the foreclosure cured and really did not care about making any money.
I met her and we talked for about 30 minutes, then she showed me the house.
I already knew that ARV on this house was a quick sell number of $290,000
She needed a $60,000 rehab/remodel.
This is a hot area so I knew I could move it for a little over 70% of ARV after repairs but not much more.
She owed $142,000, I offered $145,000 plus all closing costs and she accepted!
I blasted out to my buyers list about 8:00 that night and had three emails by midnight saying "I What It"!!
A buyer called at 7:30 AM on Sunday, she forgot day light savings changed in Colorado! Met the first buyer after church at 1:00 and she signed the assignment contract by 1:30!
Purchase $145,000
Assignment fee $7,500
Closing costs $1,600
Total $154,100 to my buyer!
Took contracts to my title company 10:00 this morning.
So the seller gets $3,000 at closing. ( she is happy as can be!) and no foreclosure.
I make $7500 at closing. Then pay my door knockers 25% of my net. $1875 for them $5625 for me! That is around $1875 per hour on this deal!
My buyer should net around $50,000 after rehab, commissions, closing costs, misc expenses! Do you think they will buy from me again??
Taking Action Everyday!!
Michael Mangham
MD Home Acquisitions LLC
http://www.mdtfcam.com Transactional funds and POF letters
http://www.mdhomeacquisitions.com Seller site
http://www.mdhacq.com Seller site
http://www.mdhomea.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyers site
http://www.mdhomeacquisitionshousehunter.com Door knocker and house hunter site
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Great job! I do door knocking as well, very productive marketing strategy. I have 9 short sales in the works right now and 5 of them were door knocking leads. IT WORKS!
Love the websites as well!
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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To your success,
Carol Stinson
Mike
Congratulations on your deal and continued success in all that you do. Also thanks for your advice and encouragement
Regards
Tom
Great Job Michael and I like what your doing according to your website. Maybe some day I can work with you. Of course I live in Missouri a little ways from you. Keep up the Great work it is very encouraging to see.
James Brogan
Hello Mike,
I like your strategy, when you send out your training please include me... I would like to learn more about what you are doing in Colorado. I will try it in Charlotte, NC...
Ty
Yesterday is history, Tomorrow is a mystery, and Today is a gift...
Ethel Griffin
...So don't throw away a gift, do it today as tomorrow is not promised.