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Updated about 13 years ago, 10/02/2011

Account Closed
  • Minneapolis, MN
12
Votes |
691
Posts

Need help marketing to foreclosures

Account Closed
  • Minneapolis, MN
Posted

Hello,
For the past several months, I have been setting up and implementing my marketing programs. They include sending yellow letters to pre-foreclosures in areas I like, mailing postcards to my farm areas, and sending letters to absentee owners in two suburbs I like. I'm starting to get alot of calls, but unfortunately most of them are from pre-foreclosures who are upside down on their loans, from non-motivated sellers in my farm area who want a market price, and from absentee owners who own rent haouses and are not willing to owner finance or be creative.

It appears that the truly motivated ones, and the ones who have equity, are not calling me. I am not experienced in short sales, so have been looking for homes with equity for wholesaling and/or doing lease purchase deals. I have checked the tax records on some of the ones who have not called, and many of them appear to have equity (judging from the amount they paid versus the current market value).

My question: what techniques have been successsful in getting the really motivated ones to call? Maybe I need to do the calling myself? Any suggestions would be appreciated. Thanks, Mike