All Forum Posts by: Aaron Walker

I just drafted a direct mail letter for my motivated sellers list and need someone to make some suggestions. Its not great so dont expect this to be something that you will want to use. Im not sure how to get it to you guys so I guess for the first three people that take interest I will request as a colleague and then send the letter in a private message. Any takers?

Thanks

Ok lookie loos, I will reply to my own post. I learned today that on rare occasions, brokers will guarantee the borrowers loan for the bank in an effort to push the loan through.

My mortgage broker (in justification of why a loan is taking so long to go through underwriting) told me about a previous loan that he had worked where the buyer falsified his federal taxes. This taxes showed that he made 50k but he really was 30k in the hole. The "accountant" that signed off on his taxes turned out to be the guys brother. Anyways, he stopped making payments and our broker claims that he got stuck with paying the guys mortgage. How is this possible? I thought that he would want to give as many people loans as possible to collect a commission whether qualified or not. Its ultimately the banks/investors job to discriminate who they give a loan to.
Thanks

I would try a LOCAL printing shop/office supply store. Staples might even have them.

Sweet! Thanks a lot. I just got off the phone with a seller and told the truth. It didnt go as well as I had hoped. (She wasnt going to sell anyway.) I think the key for me is going to be to present the truth in a way thats easier to understand and doesnt prompt more questions. Im not the best on the phone but Ive already improved a ton. Thanks again

I see in almost everyones business card, ad, or website "we can close quick" or something of that nature. How do you close quick? Have other investors/partners money in an account at all times? Or are these claims referring to a sub2 deal or wholesale deal? If money must be held in an account at all times then how is that structured with your investor/partner etc. I hope this makes since. Thanks.

I have talked to six people on the phone, and every one of them has asked where I got their info. Your right, if they are motivated then they wont care. I also want to keep them happy because I have been asking them to pass my info on to their friends and family that might be in a jam.

I just sent out my first batch of letters 3 days ago to a "pre-default" list (yellowletter.com) it is based on credit or something which is different from a 30-60-90 day late list. Since I am printing, stuffing, and mailing myself I only sent out 44 and have had 11 calls to my voice recording, 6 of which left messages....Im PUMPED because from what I hear, thats a pretty good response rate even though none of them were deal worthy.
Ok so my real question. What should I tell people when they ask " Where did you get my information?" I cant imagine that telling them I purchased their name from a list broker is the best reply. Any advise? Maybe I should find a script or something.

Thanks

Hey guys, I am a new investor in Missouri that is trying to find some pre-foreclosures to deal with. I am real excited about the pre-nod lists but I found this posting below on my local club forum. It was supposedly posted by someone from yellowletters.com. Has anyone heard anything about this? Is it true? If so, how can we get around it? Thanks

"There have been some very significant recent law changes affecting our Pre-NOD lists. In actions on December 1, the Federal Trade Commission has made it clear this list can no longer be used without a firm offer to the homeowner. For our clients to use this list, they would have to file paperwork before they mail each letter, detailing their offer. The FTC will be auditing mailings, and failure to comply will result in sizeable fines to the investor.

For that reason, we will no longer have the Pre-NOD list available......blah blah blah plug for a different list they have."

www.yellowletter.com