Making Big Money In Pre-Foreclosures Using Direct Mail! (Part 2 of 4)
| | Monday, September 02, 2002 @ 05:00 AM EDT
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Contributed by: Scott Rister
Scott Rister Properties
Read more archived articles about Marketing
If you had to hesitate even a moment or you just don’t have a clue what to do with that lead once you get it, then hopefully by the end of reading this you will be more equipped. This is not only to have a game-plan of where you are going with your real estate business, but to develop the vehicle of how to get your message effectively to your target marketing turning the “potential” into “profitable”!
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Moving on, now let’s say you have an address and name on a property in foreclosure, so what now? What is your plan to talk to that seller or rather how are you going to get that phone ringing off the hook getting them to talk to you? Well, that is the question to answer and this is exactly what this article is entirely about. Call it what you want: Attack Plan, Method of Operation, Game-Plan, Standard Operating Procedure, Plan of Operation, etc. The end result is the same as you must know how to get that seller talking to you as soon as possible because time is of the essence in dealing in pre-foreclosures.
From this point on let’s just call it your “game-plan” but let’s define this one technique that will work for you: Direct Mail!!!!! I don’t know how to emphasize it more because direct mail in pre-foreclosure is an absolute lethal weapon to have. Sure there are many ways to get into direct contact with the seller and some are more effective than others and I’ve tried many:
1) Going directly to properties and knocking on the door to talk to sellers.
2) Accessing the eller’s phone numbers by reverse CD directories of property address….at this point in pre-foreclosure a seller may have changed phone number or implemented other features to block calls because they are probably getting bombarded by creditors to pay up.
3) Leaving flyers on doors, cars, or mailbox.
4) Playing detective a bit here finding out their work place or work phone number to contact them directly there.
Do you know what has been my experience contacting individuals in pre-foreclosure with the above listed approaches? You’re harassing them! You can lead a horse to water, but you simply can’t make it drink. What I mean is that until the individual in foreclosure is receptive to deal with their problem then you will have a hard time progressing on that property turning it into a profitable deal. Sure, I’ve been able to finally track down an individual to make a deal happen but it can all too often be just exhaustive and time-consuming.
Direct mail is my most preferable approach to getting those pre-foreclosure leads calling ME! I assimilate my pre-foreclosure information personally and do buy from other sources also. When I get that information all I’m really concerned about is the name and address of owner. Sure you’ll get all sorts of information about the property being in foreclosure like outstanding mortgage balance, payments behind, lender on mortgage, etc. I just don’t need all that information because until that seller is contacting me, then they are not in the motivated category making it worth my while.
Find out next week the conclusion on how you can use this technique to it's fullest!
Note:
Scott Rister is an author and “real world” investor just like yourself. Scott has designed his courses to help investors get their phone ringing and to better manage motivated sellers. To find out more about how his courses can help you click here. If you have a question or comment about this article, please post them below where it says 'Comments'.
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