Sending out Pre-Forclosure Letters

[Brendan Kennedy]

I am looking for Some help in regards to sending out some letters to homes in my area that are in “Pre-Forclosure” or “Bankruptcy” status.  I’m not quite sure what to say without coming across to the owners as greedy or trying to take advantage of a unfortunate situation they are in.  
I drove around and checked some of these properties out and I noticed some of these homes had kids bikes/toys in the front yard and really hit home for me.  I really do feel like I can help these people by offering them a fair equitable offer and that’s what I want to portray in my letter.   

Does anyone have any letters they have used in the past that they would like to share with me or any advice they could pass on? 

Thanks in advance BP team! 

[Jay Hinrichs]

I have done a ton of pre foreclosure and court house steps work in my career.  I have read every letter ever written by those sending direct mail.

out our way if your in foreclosure you will get no less than 100 letters  50 phone calls and about 10 knocks on the door with knocks on the door by far the most effective tool.

I used to just laugh at these letters.. seems like everyone of them took the Guru approach IE   Explaining they too were broke and living in their garage or car and somehow pulled out of it and so we know how YOU are feeling and we are just here to help you  blah blah blah..

Now for a dose of reality ..   people in foreclosure are in serious denial.  they rarely respond to the letters if at all..  Keep in mind realtors and lenders are sending them letters too  telling them not to deal with investors looking to steal their equity.. then you have bankruptcy attorneys as well.

So what we found that worked was knocking doors trying to get a conversation going learn what it is they want  and 95% of them want to stay in the home. Out our way it became illegal to buy a home and rent back to the occupant ( I bought over 200 homes this way ) .. but no more.Then you have junior liens etc etc..  So bottom line you can try the letters and U need to be mailing to LOTS of people and have a wide net to get responses or you need to just pull up and try to talk to them without getting shot.  The way I personally did it is I had 3 teams knock every NOD ( notice of default) in the Portland metro area ( 2 million population)  each team was boy /girl with the girl by far the brains of the operation and owners tended to be more reseptive to them.. Then and only then they would set an appointment for the owner to talk to them ( me )  and further more they were really only truly motivated if its was within 5 days of losing the home.. everything else failed.. the whoelsaler who promised them the moon.. the lender the realtor etc..  So you need CASH and you need to be able to do your own title reports and prep your own deeds  because many times your taking title the day before the sale and having a Courier take your cashiers check to the foreclosure trustee to bring it current or pay it off.. its a big risk play  no title insurance  but that my friend is where the big scores are made RISK=Reward until it became illegal in our state  of OR WA and CA.