Solve Real Estate

Instead of bothering people who are losing their homes, wait for the bank to get it and buy it way cheaper. That is the way to make tons of money.
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Wow..these are some pretty erroneous answers!! Well, I guess you really have to be careful when reading the answers on Yahoo…:)

First off…the best and easiest deals are in the preforeclosure process, where you contact the seller directly. The individual that stated that "REO'S" or bank owned properties were the best deals was absolutely incorrect. Second of all, by buying the house directly from the seller, you're helping that individual by giving them cash to get out of their situation. The above answers are suggesting that you wait until the person gets kicked to the curb with no money and then give the bank money for it??? Oh ya..that's really considerate..:)

I prefer door knocking when it comes to individuals in foreclosure. Most of the time you won't get them on the phone because they screen their calls, expecting you to be a bill collector and there's a good portion of them where you won't have their phone number.

Plus, door knocking can honestly be pretty fun!

Here's what you do when you get to the door:

YOU: Hi, My name is …… I noticed that you were experiencing a challenge with XYZ Bank. Have you been able to get it taken care of? [NEVER SAY PROBLEM...NEVER SAY FORECLOSURE...NEVER SAY AUCTION or REPO]

Here's where they'll either spill the beans and tell u everything about their life OR Say "oh yes…ya, that's taken care of."

If they tell you everything, get as much info out of them as you can, but don't go out of your way to close the deal right there. BUILD RAPPORT! Get their trust…tell them that you may be able to help them…and keep asking questions…"When's the auction date"…"Are you working right now"…"Do you have any kind of game plan".."Have you considered selling it?"…"Have you spoken with the bank"….

If they get defensive, hit them with:

YOU: Oh, I'm so glad to hear that. You know, it's weird I was just down at the court house speaking with [Insert name of Judge's assistant] and she said that the bank was still pursuing your file and that I should stop by to talk to you. Do you think that their may be some kind of mistake?

[Then Shut Up] Let them speak

YOU: Let me do this…I'm going back down that way today, lemme get your phone number real quick and I'll double check for you. I'll give you a call when I'm down there. [ I say "Mistake" because you don't want to call them out and say "You just lied to me..:)"...Also, don't ASK for the #...Tell them to give it to you. After all, you're doing them a favor]

Now that you have their number, you've built Rapport –the person trusts you…and you have their permission to call them making you different from the other clowns that are just cold calling them. Call them back and say, yeah, "The bank is being really ridiculous on this one. They want to move forward…..and move into your pitch."

At that you point you're going to be the one that gets the deal.
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