If you are going to work as a pre-foreclosure specialist in the real estate buy and sell world, there are a few things you will need to learn early on if you intend to make some serious dollars.
One of the first things you will need to do is get ads in every newspaper around where you want to purchase property.
Also put signs on your own home.
These need to say "Cash for houses! Save Your Credit.
Quick Close" call 0000888888".
Also you should have ads That read "Avoid Foreclosure, Call Me Before The Bank Files.
I can save your credit.
" When you start to get calls you will need to screen the calls very carefully.
You need to set up a form that has all the information about the house, its location as well as the property owner and Why? Why is he selling the house? Is he in a big hurry to get a deal done? Get a fairly decent form that will contain all the information you might possibly need.
Then take the form to a printer and have him print the forms in booklets of 25 or so.
By doing this you only have the one form you use, maybe one by the phone at home and one in your car.
And you will save money with less wasted forms.
Please follow my advice here.
Screen the calls very thoroughly, and screen them some more.
Do not get excited and start running to look at houses that may not even be for sale yet.
With the price of gasoline as it is these days you can go broke quickly.
You screen each call carefully, and if he seems like he is hot to sell, and if he has a reasonable sounding price for the area where the house is located then maybe you need to look.
You should attempt to talk with all of the for sale by owner signs you see on houses, and also give all of the for sale by owner ads in the newspaper a call.
Now if you have decided you are not going to do rehabbing then you still buy houses that need rehabbing and flip them to a rehab specialist, you will learn that you cannot have enough contacts in this business.
The more you have the better it will be.
If you will contact all of the mortgage lenders and banks in your area you will soon be finding nice deals through these channels and once they get to know you a lot of them will offer financing, again beware.
You will quickly learn that when you find a property with a big second mortgage, you cannot do a lot.
Just let it go to the foreclosure auction.
Many mortgages especially second and third mortgages are wiped out at the foreclosure auction, unless of course it is an old first mortgage with a low balance.
The ranking is the first, then the next ie(second) beware of those that are not wiped out with the auction.
One of the first things you will need to do is get ads in every newspaper around where you want to purchase property.
Also put signs on your own home.
These need to say "Cash for houses! Save Your Credit.
Quick Close" call 0000888888".
Also you should have ads That read "Avoid Foreclosure, Call Me Before The Bank Files.
I can save your credit.
" When you start to get calls you will need to screen the calls very carefully.
You need to set up a form that has all the information about the house, its location as well as the property owner and Why? Why is he selling the house? Is he in a big hurry to get a deal done? Get a fairly decent form that will contain all the information you might possibly need.
Then take the form to a printer and have him print the forms in booklets of 25 or so.
By doing this you only have the one form you use, maybe one by the phone at home and one in your car.
And you will save money with less wasted forms.
Please follow my advice here.
Screen the calls very thoroughly, and screen them some more.
Do not get excited and start running to look at houses that may not even be for sale yet.
With the price of gasoline as it is these days you can go broke quickly.
You screen each call carefully, and if he seems like he is hot to sell, and if he has a reasonable sounding price for the area where the house is located then maybe you need to look.
You should attempt to talk with all of the for sale by owner signs you see on houses, and also give all of the for sale by owner ads in the newspaper a call.
Now if you have decided you are not going to do rehabbing then you still buy houses that need rehabbing and flip them to a rehab specialist, you will learn that you cannot have enough contacts in this business.
The more you have the better it will be.
If you will contact all of the mortgage lenders and banks in your area you will soon be finding nice deals through these channels and once they get to know you a lot of them will offer financing, again beware.
You will quickly learn that when you find a property with a big second mortgage, you cannot do a lot.
Just let it go to the foreclosure auction.
Many mortgages especially second and third mortgages are wiped out at the foreclosure auction, unless of course it is an old first mortgage with a low balance.
The ranking is the first, then the next ie(second) beware of those that are not wiped out with the auction.