Sent my first "pre-foreclosed" letter. Any tips or sugg. to make better
It went like this:
Dear Homeowner:
With a possibility of losing your home, you may be faced with financial setbacks in the near future. Hopefully you can persevere.
There may be a way to help you out of your current dilemma. If you want out of this situation please feel free to call me and I will do whatever it takes to help you.
Call any time XXX-XXX-XXXX
Thank you.
Verne
P.S. Not a Real Estate Agent but a Private Investor.
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what can be improved?
Hi Verne! Looks like a great start.
Sometimes in my area, the first thing that people ask me is "How did you get my address and know that I am in Foreclsoure". I usually place that in the letter by saying something like "I saw the bad news about your home in the legal notices the other day".
If you are trying to short sale you might add this headline in there. This would give most people another reason to call you right away.
"Even if you have NO EQUITY and owe more than your house is worth, I have options that may help you".
In my area have had bad luck by telling homeowners that I am a Private Investor. It has seemed to back them in a corner, and make them feel that I know way more than them. In some situations that can be good. What I have started doing is coming down to their comfort level by saying . . . "I am not a realtor, I'm just a local homeowner, just like you, and I am interested in buying anothe property." And then I go on to tell the homeowner how I may be able to help them because of my extensive knowledge in foreclosures.
The only other thing that I would suggest is that if you are not going to be calling the foreclosures or knocking on thier doors, then I would send mutliple letters to them. We have found that many don't call us back until after our 3rd or 4th mailing. Hope this helps, best of Success!
thanks bamz!!
Appreciate your reply. I didnt know how to word it that I am a local investor.
I found the info about the house from a website that has listings of preforc. Its weird because I see a couple of houses that says "Last Payment Made," i.e.
12-21-98, some as late as 7 years ago. Is that possible?
If the person responds to the letter or not so be it. I'll probably wait 2 more weeks then send another letter with more details.
Bamz,
I found your approach to be very helpful. I've recently changed the wording in my letter so that the homeowners dont feel attacked nor "pounced on." Thanks.
Bamz
You have been dropping some serious knowledge today!
Future-Multi-millionare,
I've had a quite day here, so I have been able to spend a little more time on TCI today. Most of the time I am a listener, but today I probably got carried away with my thoughts.
I'm getting ready to go to my next appointment, so the rest of you will have to step up to the plate now!
Make it a Successful Day!
BAMZ
I like it Verne, May I use some verbiage from your letter?
Great start verne! I am sending out my first preforeclosure letters this week, and the information in this post - thanks BAMZ - is full of great suggestions on how to word my letter.
Just starting out and would like to know how to began the process of buying pre-foreclosed properties. any help or suggestion would be greatly appreciated.
Newbie to the business