The emotional side of foreclosures.

[Garhett Langer]

Hey guys,

I’ll share more about my first deal and how I found myself here in another post, but I wanted to make a specific post about something that’s been on my mind.

I work with a partner (he has the money, I have the time and hustle) and our niche is sheriff sales.  I’ve had a particularly challenging first deal.  The owner did not vacate after the redemption period (2 months here), OR the 3 day notice, OR the date set in the eviction hearing.  We are physically removing him tomorrow.  I did everything I could to help this man and he more or less lied and strung the whole thing out.  Our next property is also currently occupied, but I’ve managed to remain faceless and nameless so far, so hoping for less drama and heartburn.

While scoping out a potential property today, I noticed a child in the window as I drove by.  As I type this the image makes my eyes water.   Thinking about the possibility this kid and his family could be homeless in a few months.  I can’t help but feel somewhat heartless looking at this home as a commodity even though someone’s going to get it one way or the other.

To the others out there that deal in foreclosures (specifically sheriff sales or pre-foreclosure), do you have any advice on ways I can help these people or ease my conscious?  Should I make it my concern or just consider this business and be satisfied I can create a comfortable home for someone else?

Sincerely,

Garhett

[Tchaka Owen]

@Garhett Langer - "someone's going to get it one way or the other" is the key bit in your post. It doesn't matter how you feel, what you feel, etc, etc....so you have to ask yourself whether you're there for an emotional experience or to do business. 

I had the opportunity to speak with a number of people in foreclosure 2011-2013 and many had sad stories. The difference is that some did their best to get out or move on while some remained in denial. There's not much you can do about the latter. I recall one woman who had survived several delays (S.Florida had a backlog and was a real mess) and wasn't concerned. I called her again several days before the sale date and warned her it was highly unlikely she'd get another extension (you often got a sense of which ones would or wouldn't). She scoffed. Three days later the bank owned it. She wouldn't help herself. There was another instance where the homeowner said God would take care of it. Perhaps she should have realized God sent me to help her. But nope, she wouldn't raise a finger to help herself. If you won't attempt help yourself, I'm not inclined to feel bad. 

On the bright side, we did do what we could to help those in hard times who tried, but simply couldn't make it. Renting a moving van is a nice gesture. I've heard of people helping with deposits on a home rental (also a nice gesture). We once gave a guy $250 to move out prior to having a Sheriff complete the eviction. He did (and we were happy to do so). The other 2 tenants didn't comply and we were happy to follow the Sheriff in as he booted them. Well, he booted one. The other came back to find his belongings at the curb. In short: help those who are trying and do what you can to make the transition less painful. You will feel good about it. Other than that, it's not personal....it's business.