I have been pulling data from Colorado's public trustee lists for howeowners in the pre-foreclosure phase before the auction. These people are motivated but usually dont have equity in their houses.
I skip trace using the white pages and then spokeo it the WP don't yeild results. If two owners are listed then I skip trace the other owner. I get 90% success in obtaining phone numbers and sometimes get their email.
I do a preliminary investigation for what Zillow says the property is worth and look at the original note value. If it looks like it isn't underwater I cold call.
I just treat them like any other seller and ask them if they have ever considered selling, ask them about their property, and find something that I can talk to them about. I want to build trust on the first call, gather info, and establish that I am a professional in the business of RE and run a solution based business. Let them do most of the talking but direct the conversation using questions.
Make sure you use these questions after you have established trust:
1. How much do you think the property is worth?
2. How did you arrive at that number?
3. Have you considered, renting, using a RE agent, etc.
4. I see from our system that you have a mortgage on this property. Do you mind if I ask you how much you owe?
5. I also see that you have a notice of deficiency from your bank. Are you aware of that? Then let them talk they will tell you a lot about their motivation.
Its really not that hard. Typically this will yeild a sub2 opportunity. Just remember you are talking to them just like you would talk to anyone else. The more you listen the better.
Expect to spend 10 to 15 minutes. End by making an appointment for the next call and tell them what you will be doing for them in the meantime.
Since you are from the Western Slope of Colorado, I could work with you and anyone else from Colorado on this. Maybe we can pool our resources and get a virtual assistant to do the initial work. Give me a call connect with me and we can take the next steps.
