Don’t be Afraid to Door Knock Foreclosure Owners

As much as calling owners in default is easier, let’s face it, most owners do not have listed land lines anymore. And those that do, are being bombarded with calls. So we call neighbors and relatives and hope our message gets to the owner in default. But at some point, you’re going to have to knock on their door. There’s no avoiding it, if you want to get a great off-the-market deal with a motivated seller, you will need to get out there and door knock!

Let’s face it, out of the many investors who have the Notice of Default or Lis Pendens lead, half of them will pop a postcard or letter once time in the mail to the owner and wait for their phone to ring. You know what happens with those mailers… they get trashed with all their other junk and bills (if they open their mailbox)!

Only a few of them will go to the effort of tracking down the owners’ phone number and try to call them. We know the results there… most of their phone numbers are either not listed or disconnected.

And then only 1 or 2 investors at best will actually face their fear and go knock on the seller’s door.

Now this is time consuming and takes a bit of finesse to make it pay off for you. The biggest clue that it is worth the time for a personal visit is if you reasonably expect there to be either:

1. A lot of equity in the house; or
2. The property is in an area where you are very interested in acquiring long-term keepers.

You might be thinking that the homeowners wouldn’t want you to come to their door. But the truth is, no matter what they may say at first, they really are in desperate need of help.

Recently, one of my clients knocked on the door of a couple who were in the end stages of foreclosure. The sellers had gotten caught up in an unfortunate financial situation.

My client agreed to make up the back payments and stop the foreclosure. He would purchase the home “subject to” existing financing, fix up the house, take over the payments, and resell it for a $40,000 profit. There was a large chunk of equity in the house so the seller was able to walk away with enough cash for the sellers moving, a new place and some cushion to live on for a while when they got back on their feet.

A true win-win deal was struck.

If you want to learn how to make win-win deals like this in your own backyard, you’ll want to join me Tonight for my Free New Foreclosure Investor Webinar “How to Buy Foreclosures, Make Fast Profits Now”. Make sure you Register Now HERE and Join us Live at 6pm Pacific, 9pm Eastern.

Talk to you tonight!