All Forum Posts by: Scott T.

So how' bout getting back to the topic? It seems to me that since NODs are 'publicly noted,' and most of these so- called 'government' agencies (i.e. sub corps) have to 'disclose' their intent, as they do with everything  (to give it a semblance, of 'legitimacy') all one need do is go online (in many instances) today to gain access to who' all is 90+ days overdue on their debt servicing, in a given county, etc. I for one plan to soon target this niche to HELP PEOPLE, while making a buck... and (just as importantly) costing the PTB and their public and private companies, when fewer people go 'bk,' loose their equity and/ or credit, in addition to the the roof over their heads. Anyone here care to 'share ideas' and perhaps work with a ''unconventionalist,' whilst tapping- into this VAST and by enlarge unchartered, sea of WIN x3+ parties??? (Aka: The sellers, buyers & REIers!!!)

@Nick G. No problem, neighbor! (Plenty of savvy REI people in SoCal... I haven't found any to date up here, however... so apparently I need to get out and network, more...) Thanks for bringing up the BP 70 podcast... I don't believe I've heard that one yet, but the interviewee's name, does sound familiar?! :-)))

@Zachary Bamberger

Indeed.... Use maps. Google, Bing, etc. (if it's shown?) and also look at comps on Zillow, etc. as well as rents on RentoMeter. THEN 'drive by,' if it feasible and worth the time and effort.

@Nick G.

Q: " Bigger Pockets Podcast episode 70 from three or so years ago was my first glimpse at subject-to purchasing, the guy interviewed had done over 100 deals that way, it might be interesting to you." UnQ.

SEE:  https://www.biggerpockets.com/renewsblog/2014/05/1...

Indeed... and guys like Ron LeGrand, to Mitch Stephen and Phill Grove, etc.  have done 2000+ /- deals, including mainly 'subject- to' agreements, they're just using a MLO post Dodd- Frank, and typically either sell most of the note, or become the note holder like say Mitch (smarter) if they don't do a cooperative ACTS or sandwich lease option deal, etc.? (i.e. LeGrand.) 

And if you get down to 'brass tacks...' next to NOTHING the banks and their enablers have done, or are still doing today is actually LEGAL, but I'll avoid going there... or they might send a hit man?  ;-)))

Many useful points here... Thanks to all, for their contributions. 

@Account Closed

Thank you kindly for sharing your approach, Ken. :-) That makes perfectly logical sense. (i.e. to treat others as you would want to be treated... and avoid using potentially negative 'trigger' key words and phrases, particularly IN PERSON.) I also heard that a potential 'deal killer' is to use the word CONTRACT, vs. 'agreement,' etc. because it automatically provokes a "check with my attorney" subliminal response, in many people.

Do you by chance have a link to your: "Seven Ways To Avoid Foreclosure" write- up? I'm thinking of doing a related website for online info. / linked reference, and then have that printed- up as a hand- out brochure, and also summarized for direct mail, etc. and most of the related info online is rather biased, if not confusing to those unfamiliar with the terminology.

If you listen to some of the TOP realtor's '"overcoming objections" on the phone when they call 'expireds' and FSBOs, etc. as well as studying sales techniques (I recall a top MLMer 30ish years ago using the "feel, felt, found" technique, as one e.g.) you'll have far more success in dealing with the NO sayers.

I just wrote a call script to do just that, but I'm not posting my specific 'ideas' online, for what I plan to soon implement, to get 5% vs. .5% results, under CONTRACT. I realize my comments here sound 'contradictory,' but there are many ways to achieve similar results, w/o coming across as a 'sales type!' (In fact, one should ALWAYS endeavor to do, precisely that, much like the guy being interviewed in the YT video I linked above, for e.g.)

It IS possible to be BOTH 'sincere' and make a lot of sales, so that is what we should ALL endeavor to do, with sufficient practice! (i.e. As a 'just' reward for HELPING OTHERS, IN NEED.) We're problems solvers, afterall...

@Andy Cross

Also check this guy out, in Omaha: youtube.com/watch?v=TWbJN0KY_R0 (I LIKE his perspective...) Or key- in the (YouTube) video title, if the link is inoperable: 

"I Just Made $20,000 Lease Option Fee On A $200,000 House"

His tactics are to become a pillar in your community and get calls via referrals... but he also HELPS PEOPLE in need... This could be done on the phone, via mail, door knockers, signage,  billboards, radio, TV, viral marketing online, PPC call and text ads, etc. 

IF ANYONE'S INTERESTED IN A COOPERATIVE 'PROJECT' to also target the people on the lower end and/or higher end(s) of the spectrum, there's a market for BOTH as well as the middle. (i.e. That most everyone else, is currently targeting...) MY GOAL is to get people doing 'terms deals,' in general... because that benefits EVERYONE except the Powers That Be. Message me, if you're interested in discussing this further. I'm currently writing (better than 'guru' and competitor) 'call' scripts and webpage content, etc., but the same basic 'dialogs' also apply in writing, or in person. And EDUCATING PEOPLE about their (legal) OPTIONS, is ALSO KEY... These are the two ways / means by which 'the people' WIN (x3+) vs. the large corporations, and their 'owners.' ;-)))

@Andy Cross

And you are in the BEST location, in Cali. You're also not far from San Diego, another great market. I'm up here an hour plus from SFO, in Sonoma County. I plan to FOCUS on doing (cooperative and sandwich) LO deals (nationwide) along with acquiring properties (out of state...) subject to. There's plenty of PROFIT to be made doing LOs in markets like ours, while most everyone else is still pretending it's STILL 'wholesale' time! (And In the time it takes to do one JV, or solo deal flip, you can find a distressed SELLER and buyers (82% of whom cannot QUALIFY for a loan!) are a dime a dozen for LO deals. (i.e. Who has the BIGGEST deposit?! Perhaps .5- 3% here or there down, on the average $600k. abode? Or twice as much in Marin, the Bay Area, or other expensive CA enclave. )

I'm going to target mainly 18- 24 month contracts (vs. 12) and 'qualifying' over 50% to PURCHASE the house! (And ALSO Collecting the balloon payment on the back end.) Who CARES if you cashflow monthly, if you get say $25k.+ down on BOTH ENDS of a sandwich deal? Or even if the seller gets HALF?! I'm getting off- topic... but you guys get my POINT!!! (i.e. Think OUTSIDE the 'Guru U' boxes...) And BTW, Brian Gibbons is in the Sherman Oaks area of LA metro.

@Andy Cross

Hey Andy, Yes... he's actually one of the most successful REIs in the US, and that was leaving the potential seller signed OFFERS, at the door. They also go so far as to do 'skip traces' to find say absentee owners, when their direct mailers are returned, 'undeliverable...' And another guy asked a prospect if he could take the 30ish yellow letters he'd recently received via mail (apparently he was on a 'list') and then realized that everyone was sending the SAME letters as everyone else, using redundant tactics that converted well several years prior (i.e. far more new REIs, sending the REI marketing guru's generic correspondences, that was no longer converting more than .5- 1.5% vs. 5- 15% prior...) so this illustrates that using the same tactics indefinitely (in a now overcrowded market, with list sellers selling the same leads to many...) is now next to USELESS... unless you are able to invest say $25k.- $50k. per month, to get a couple of deals averaging 2- 3x+ your time and monetary investment.

Starting out with "what everyone else is doing" may work fine to LEARN and then you need to get more CREATIVE, in my opinion. I'm new to REI... but not to marketing, advertising, sales, etc. The other MISTAKE most people make is GIVING UP and jumping to the next branch... before MASTERING any given technique. If you're doing door knocking, bandit signage, or direct mail, etc., keep doing so until you are the BEST in the area at it. (i.e. ALL techniques are potentially USEFUL, if you work them both SMARTER, and HARDER, than your competition...)

Most younger people think they can email, text, social media, etc. people over 40ish to death with 'touch points...' vs. getting on the phone, or face to face. This might work today+ with a $100. sale... but it isn't gonna wash with a $100k. property, or even a $10k. used car, with many over say 45- 50. (I'm 51...)

This is an interesting discussion, as I am NOT an "extrovert" (or 'sales type') either, but the right person (assistant?) with the correct approaches (i.e. A, B, or C???) could help REIs close far more subject to, owner financing and LO deals (while getting many referrals) if they simply do things DIFFERENTLY, than the 'direct mailers,' phone 'cold callers,' and 'sales type' door knockers, who drive these poor (about to loose their house) home owners, into their shells. Perhaps also having a brochure and 'info' website EXPLAINING that they do INDEED have OPTIONS, might get 1- 3/10 to take notice... but this is where the NON salesman should be talking with (hyper) distressed sellers, vs. Mr. / Mrs. old school, shuck and jiver! And like it or not, also consider the neighborhood. If the door knocker looks, acts and dresses like 'one of them' (i.e. white or blue collar, etc.) that would be a (potential) 'foot in the door!?' 

You might also try third partying it, by having some neighborhood extrovert saying "I saw you had your home for sale recently... and I know of a guy who buys houses for close to market value, here's his business card." (Then also have them flyer the neighborhood, or leave a follow- up brochure or even an offer/s (cash, subject to and owner financed LO???) with the same business card...) One guy used to leave Priority Mail enveloped offers at the front door, or slipped into their mailbox, that were hand delivered. Get CREATIVE people!