Oh Tempres oh mores er something
Here in So.Cal. the forcl rate took a biggy jump the last four weeks. I run an average of three properties a day. Most of the time people slam the door in my face but as long as they don't shoot. I have been doing this for many many years. I try to be helpful and solve the problem. Sometimes I can save the house and sometimes it must be sold and plans made for an adjustment in the living plans of the owners. Of my contacts of persons in the first 30 days of foreclosure. 70% is ProBono, there is no money for profit and no money for commissions. I do it cause I think someone has to do it. But the other 30% I either arrange a sale, or a borrowing or anything necessary short of burning it down for the insurance. I have advanced monies for back due payments, then rehab'd the house or units. then marketed the property and the owner has gone forth with the true value of the home in their respective hands. I enjoy this work although the problems I run into test my emotions. Mommies left with kids and no money. Husbands left with no money, no car and the knowledge that they have been replaced by who knows who. Yet, the work is interesting, one half is financial and real estate and the other puts to use the Phd. I earned so many years ago when I stopped flying fighters. There is a good profit in this business but the ratio remains 70% of the people have no ability to supply you with a commission or a profit. The other 30% thank god make it possible to show a plus at the end of the day.
Years ago I used to work almost all the time in the high end properties. You would be amazed what happens to the Hollywood type whose five picture deal is terminated as his produced feature replaces Nux Vomica in its effect. That man goes down the drain with a large splash and the resale of that dwelling is a very profitable occasion to yours truly. But working with small persons in the Valley and elsewhere is more rewarding at the end of the day. So there, nuff said, if you wish to truly play this game you must give a service. You must correct a social situation and that 30% will take care of you and wealth to at least six constant figures can be obtained. Cheers Lufos
Good post! I wish you continued successes with your approach.