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Contacting sellers in frclosure with no equit - http://www.dealmakerscafe.com Forums

Original message

tarun

"Contacting sellers in frclosure with no equit" , Wed 15 Nov 23:57

Lately, I have been going to the courthouse to look at the daily notices of default. I am finding over a hundred houses/week where a notice of default has been filed. Most investors are looking for the deals with equity. However, I plan to seek out the ones without any equity and hopefully get the deed on them.
Is anyone one here doing the same thing? If so, what kind of a prospecting system do you have? Are you sending them postcards or letters followed by a phone call? What kind of text do your mailings consist of?
I have Ron Legrand's guerella marketing coure. Are you using any of the letters in that course and how was your response?
Thanks

Tarun

Replies:

Lynn
Moderator

"Re(1):Contacting sellers in frclosure with no" , Thu 16 Nov 06:37

Tjack is right on the money concerning "trying to reach the sellers before the foreclosure is filed" but that doesn't mean that you can't still go fishing at the court house and that you can't still catch some good ones. Just watch the numbers.

I personally think that LeGrand's Guerilla Marketing course is top notch. His marketing letters are great.

Happy Investing!
Lynn

TJack

"Re(1):Contacting sellers in frclosure with no" , Thu 16 Nov 00:52

Tarun,

Once a FC has been filed the home owner is at least 3 payments behind and possibly more. There are attorney fees of 1k and sometimes much more. It can be done as you describe but in order to get in light it is better to get the home owner to contact you BEFORE it gets that far, like 1-2 payments behind and before FC is filed. Failure to get in light destroys little to no equity deals. Creative advertising to get sellers to call early in the process is KEY. You have come to the right place for guidance on little or no equity deals.