Pre-Foreclosure Wholesaling

[Amaf J.]

Hello everyone,

I was wondering if anyone had any success reaching out to pre-forclosures in order to wholesale their homes? I have a list of individuals who I'd like to target but I don't know how this would work, what the pitch might be or any other details.

Can someone give me an idea of the best approach, how the verbiage of the copy would be, how it would benefit that party, etc?

Thank you!

[Sam Craven]

There is a lot of miss information here.

A pre-foreclosure is before the trustee sale.  Some pre foreclosures are getting properties before the notice of trustee sale and other people call pre foreclosures when they have beengiven the 21 day notice of sale.

In both instances as long as assignment of contracts and double closing is is legal in your state, you're good to go.

In most cases when you are door knocking and targeting the properties that are facing the auction block in a few weeks, please have your capital ready to close on these things and dont over promise to the home owner.  Nothing worse then giving these people hope when you cant follow through.  My company has picked up the pieces of these less honest wholesalers, and sometimes its too late and the homeowner gets screwed.

As for your pitch.  Focus on the person not the house.  Keep that in mind, target as many people as you can, have your capital lined up and you will be successful.