Best approach for foreclosure?
Member since 2024 · 21 posts · 3 votes
Best approach for foreclosure?
3 Replies
- 2yJoel BongcoBusiness MemberInvestor · Honolulu HI & Los Angeles, CA · Member since 2018 · 369 posts · 176 votesHi Jessie, my team specializes in Pre-foreclosures -- we've saved over 500+ homeowners from foreclosure - pro bono. Distressed homeowners are typically pretty down and depressed already given their situation. You don't want to add insult to injury by offering to buy their house off the bat including offering to do a Subto. As responsible Real Estate Investors, we want to educate them on their options: Mortgage relief programs, loan modifications, forbearance, short sale, etc. If you don't know, don't guess and bring in someone that understands these programs. Working with distressed homeowners requires grace and patience. They are not mad at you, they are frustrated with their situation. As a result, I recommend sending them an empowering mailer for you to educate them on their options. If you connect with a homeowner that needs assistance, please let me know, we will assist you and the homeowner -- no charge. Aloha, Joel
Quote from @Jessie Cervantes:
Hey BP Family, whats the best outreach for pre foreclosures? I'm a beginner with creative finance. I found a resource for pre foreclosures, whats the best way to contact these sellers to see if they are interested in a sub to scenario? Is it a good idea to send them a no pressure letter in the mail proposing a conversation to possibly to solve there issue? And what would be the best way to carry that conversation after the letter? TIA!
- Member since 2024 · 21 posts · 3 votes2y
Quote from @Joel Bongco:
Hi Jessie, my team specializes in Pre-foreclosures -- we've saved over 500+ homeowners from foreclosure - pro bono. Distressed homeowners are typically pretty down and depressed already given their situation. You don't want to add insult to injury by offering to buy their house off the bat including offering to do a Subto. As responsible Real Estate Investors, we want to educate them on their options: Mortgage relief programs, loan modifications, forbearance, short sale, etc. If you don't know, don't guess and bring in someone that understands these programs. Working with distressed homeowners requires grace and patience. They are not mad at you, they are frustrated with their situation. As a result, I recommend sending them an empowering mailer for you to educate them on their options. If you connect with a homeowner that needs assistance, please let me know, we will assist you and the homeowner -- no charge. Aloha, JoelQuote from @Jessie Cervantes:
Hey BP Family, whats the best outreach for pre foreclosures? I'm a beginner with creative finance. I found a resource for pre foreclosures, whats the best way to contact these sellers to see if they are interested in a sub to scenario? Is it a good idea to send them a no pressure letter in the mail proposing a conversation to possibly to solve there issue? And what would be the best way to carry that conversation after the letter? TIA!
Aloha, I like it. Will do Joel!
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