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Letter to Pre-Foreclosures; please critique.

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  • Monday, January 13, 2003 @ 02:45 PM EST
  • 5 Comments

Following is a letter of pre-foreclosure I have sent. Please critique it and let me know what you would change. My next step after this would be to either call if I can ascertain the phone number or knock at their door: (The names and address have been chaned to protect the innocent or guilty):

Monday, January 13, 2003

Samanatha Smithy
123 Main Street
Yourtown, ST 12345



Dear Samantha Smithy,

My name is Clint Miller, and I am real estate investor. My sole focus is purchasing homes from people who have run into outstanding financial obligations, due to a myriad of reasons. If you have happened into this situation, I may be able to help you out of it.

Please notice, I am not asking you to ‘give’ me your house. I am interested in buying it. I am not a Realtor, nor am I associated with any real estate firm; I am a real estate investor.

I am interested in helping you out. And I am interested in purchasing your house as an investment.

You may have people hounding you. I am not going to. Since time is of the essence in these situations, here is a preliminary offer: If your house qualifies, I guarantee I will have you a written offer in 24 hours after I have seen your house. I can make up back payments, and fees, and close quickly.

Because I work with private funds, I can usually close in a short time (as little as 48 to 72 hours) after that. I am working in your interest too; I want to help you keep your credit, and purchase some of your equity. I will explain everything to you in as much detail as you want. I will be direct, clear, and honest in all our discussions and arrangements.

If you and I come to an agreement, I can pay all cash with no contingencies and close in a few days. I will handle all the paperwork and make all arrangements. After all, let me be upfront with you, as long as I can solve your problem, and make a profit in the process, I’m ready, willing and definitely able.

If you would like to schedule a meeting, and resolve your situation as quickly as possible, please give me a call. I am available 24 hours a day. xxx.xxx.xxxx.

Best regards,



Clint S. Miller
[ Edited by cmiller2 on Date 01/13/2003 ]

Comments(5)

  • drifter
    drifter13th January, 2003

    Hello -

    you pay all cash? not that that is bad, I wish I could, but couldn't you buy more houses if you puy just a little into a bunch of houses?

    Are you using your money, or did you find a private investor?


    Scott

  • no photo
    JuanRestrepo13th January, 2003

    Clint,

    This is solely my opinion and please take it as so.

    Picture yourself as the homeowner. In my experience 95% of them want to keep the house. With your letter you have just diminished your chances of getting a response. These folks need a solution, most of the time they are in denial and need YOUR help to find a solution. What can you do for them? The only thing you are telling them in your letter is that they have to sell you the house. The home-owner is wondering where and how are they going to provide shelter for their families.

    You've got to be a problem solver. Problem solvers make a lot of money and help alot of people along the way. How you help them differs from person to person.

    I had a gentleman give me 4 properties. He was not behind on the payments, he was just having family problems and these 4 properties were a problem to him, so by giving them to me I helped him solve his problems. I went on to rent them and sold 3 of them to other investors and made a nice little profit.


    When you do get to meet with the homeowner, ask them what they want to try and do. Based on their answers you must ask leading questions that will help you find a way to help them. Let them come up with the answer, they will believe themselves before they will believe you.

    Hoped this helps.

    Good Luck,

    Juan

  • JohnMichael
    JohnMichael13th January, 2003

    I would suggest the following

    My name is Clint Miller, and I help home owners who may have run into outstanding financial obligations, due to various reasons. If I may be able to help you please give me a call.

    I am not asking you to ‘give’ me your house. I am just interested in helping. I am not a Realtor, nor am I associated with any real estate firm;

    If you would like to schedule a meeting, and resolve your situation as quickly as possible, please give me a call at xxx.xxx.xxxx.

    Your best course of action would be to contact the homeowner direct "become a door knocker"; my reason for this is simple. Most investors take the easy way out "I call it the lazy investors bird dogging method" by setting up a direct mail campaign.

    As a whole direct mail campaigns are not as effective as direct contact with a potential customer. Letters will not sell you "The Real Investor", since the majority use letters there is not a whole lot that will set you aside from all the other junk mail they will receive.
    [addsig]

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    InActive_Account13th January, 2003

    John Micheal,

    I am not opposed to knocking on their door, nor am I afraid too, but, I'm not quite certain what to say.

    Have you some suggestions for that as well?

    Juan,

    Thanks for the suggestion. You are right, when you provide a solution, things are more amiable.

    Clint

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    way_motivated13th January, 2003

    the door knocking scripts i've been using have been to the effect of:

    "hi my name is way_motivated and i'm a local real estate investor in town. i heard the bank was trying to take your home away from you and i came by to see if i can help...do you have a minute?"

    more or less, no door slams yet but have netted one either, yet....

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