I need some advice on how to find bank foclosures. I am tired of paying a small fee for a sub par website that claims to have all of the forclosures. I live in western WA. Thank you
You could try getting out the phone book and calling all the banks in your area and asking for the REO's that way. There are many ways to approach this, you have to find what works for you. Also call local Brokers and ask about them. Good luck.
I don't mean to brag nor am I soliciting anything but I have had outstanding ressults offering pre-foreclosure consulting to homeowners.
If they are mitigatable, we negotiate with the lender on their behalf to get them back on track. If they are not mitigatable, we help them liquidate their homes and NOT get taken advantage of, or we acquire the property, or we turn it over to another investor. No matter what, we get paid for our services.
This is a great strategy for new investors with limited expertise or those with limited funds to invest. You earn while you learn
i hate to bring up an old post but this is a great topic...
cpifer or anyone can you expand a little bit on each of these approaches or steer me in the right direction on where I can learn about them? THANKS!
Quote:
On 2003-12-15 12:03, cpifer wrote:
If they are mitigatable, we negotiate with the lender on their behalf to get them back on track. If they are not mitigatable, we help them liquidate their homes and NOT get taken advantage of, or we acquire the property, or we turn it over to another investor. No matter what, we get paid for our services.
Any starting advice or tips in addition to the things I can find in this forum? Where to get lists, what to have in the letter, most effective plan, etc.?
Hi... the amount of and type of advertising you do depends on a few things.. 1: budget both on advertising and 2: budget on acquisition. If you don’t have the money to keep pace with lead generation don’t spend the money..
We are spending 53,000 monthly in ad cost it breaks down as 1 full page editorial ad in the local real estate section of the Newspaper, Our cost 3000.00 per ad a daily 2x3 display ad in the classified section. Cost 2700 monthly. We spend 26000 on 30 second and 60 second commercials and a half hour infomercial. Mail out to NOD TS and Deaths 16 times over a 45 day period using two different styles; one is handwritten yellow pad and the other I a postcard. Then we have 12 rotating billboards. And all of this allows us to buy 20 properties plus a month, which fit our buying criteria… it may seem excessive however our return on our investment is 8 times. Good luck
Are you looking for pre-foreclosures or REOs?
You could try getting out the phone book and calling all the banks in your area and asking for the REO's that way. There are many ways to approach this, you have to find what works for you. Also call local Brokers and ask about them. Good luck.
I don't mean to brag nor am I soliciting anything but I have had outstanding ressults offering pre-foreclosure consulting to homeowners.
If they are mitigatable, we negotiate with the lender on their behalf to get them back on track. If they are not mitigatable, we help them liquidate their homes and NOT get taken advantage of, or we acquire the property, or we turn it over to another investor. No matter what, we get paid for our services.
This is a great strategy for new investors with limited expertise or those with limited funds to invest. You earn while you learn
C-
cpifer,
Excellent tactic! I might have to use that one! Thanks for the insight!
i hate to bring up an old post but this is a great topic...
cpifer or anyone can you expand a little bit on each of these approaches or steer me in the right direction on where I can learn about them? THANKS!
Quote:
On 2003-12-15 12:03, cpifer wrote:
If they are mitigatable, we negotiate with the lender on their behalf to get them back on track. If they are not mitigatable, we help them liquidate their homes and NOT get taken advantage of, or we acquire the property, or we turn it over to another investor. No matter what, we get paid for our services.
Thanks, Matty.
Any starting advice or tips in addition to the things I can find in this forum? Where to get lists, what to have in the letter, most effective plan, etc.?
To your success!
Direct mail has worked the best for me. I also do direct mail for other investors who feel the same.
Hi... the amount of and type of advertising you do depends on a few things.. 1: budget both on advertising and 2: budget on acquisition. If you don’t have the money to keep pace with lead generation don’t spend the money..
We are spending 53,000 monthly in ad cost it breaks down as 1 full page editorial ad in the local real estate section of the Newspaper, Our cost 3000.00 per ad a daily 2x3 display ad in the classified section. Cost 2700 monthly. We spend 26000 on 30 second and 60 second commercials and a half hour infomercial. Mail out to NOD TS and Deaths 16 times over a 45 day period using two different styles; one is handwritten yellow pad and the other I a postcard. Then we have 12 rotating billboards. And all of this allows us to buy 20 properties plus a month, which fit our buying criteria… it may seem excessive however our return on our investment is 8 times. Good luck