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Updated over 6 years ago,
How to approach owners with negative equity?
Hi guys,
I am just starting my career in real estate as a Realtor and I am looking for the best strategies to get leads.
I have also started to do door-knocking in Encino, CA. I approached someone last week and it turned out that this person has a $183,000.00 negative equity. Should I follow up with her and let her know that I can get the house sold so she can benefit from the current market trend that is slowly starting to shift? Is it a good idea to approach/target owners with negative equity? Can you motivate them by suggesting to go through a short sale before they default on the property? what are the downsides of going after this type of properties?
Thanks for your input!