Hi all,

When you send out marketing pieces to pre-foreclosures and absentee owners, do you tell them that you are interested in buying their home or that you are able to provide them with several options?

In other words, do you keep both of your hats (Realtor and an Investor) or only one hat?

Any input will be appreciated.

Yes both,first offering help in maybe saving there home,not everyone wants to sell.Many investors knock on the door and say hey I want to steal your home and make money off of your back.The investors don't say that but most homeowners aren't as stupid as some investors hope they would be and know what is going on.

I offer to help them see if they can stay in the home and to look at options.Some will be able to do a workout,other will want to sell and get rid of the bank,servicer,and the attorneys and the headache,others won't want to sell but will realize afterlooking at the other options it is there only choice.

A few will be delusional and get foreclosed on and the sheriff will throw all there stuff onto the street and when reality hits it will be too late.

Alot of the homeowners mindset will have to do with your state's foreclosure laws and timelines.If the homeowner knows they have long redemption periods etc.they will be less likely to do anything.

In Ga we have pit bull foreclosure laws.The foreclosing default attorney published in a local legal paper for 4 weeks and it is sold the first tuesday at the courthouse steps,the homeowner can only redeem the property or file bankruptcy before the steps,once it is auctioned there is no redepmtion period for the homeowner in GA it's gone.That is why investors flock to thi state to do business.

Help the homeowners first and when it comes time to sell they will remember you,a certain number will have to sell.I get about 2 to 3 listings a month this way and my goal is to be up to 6 to 8 a month by the end of the year.

Super Realtor,

Thanks for your help. Do you buy any of the homes for yourself as well or do you concentrate on the listings only?

Yes I buy some,the key is to disclose you are an agent and exactly what you are doing in the purchase so the seller cannot later claim they did not understand what they were signing and that you duped them.The disclosures need to be very clear and and have everyone that is on title sign them.If you just get one signature and 2 are on title then the disclosure will be no good as one party can claim they wer enot given the disclosure,basically cya,cya,cya.

Depending on the state you are in,there are now laws on the books protecting homeowners facing foreclosure on what you the buyer can do and not do when trying to purchase the home from them.

DO NOT,DO NOT buy a home from someone in pre-foreclosure and LEASE it back to them or try to sell it back at an increased rate.Investors were doing this frequently in the past and it worked because people were getting to stay in the home.The sellers said that they were duped into the investor taking away all of there equity at a time they were vunerable.Courts are actually assessing damages against the investors buying homes this way.It's better to buy the home straight out and then if the homeowner wants a lease from you to stick them in another property you own.

I combine my search for buyers with my wholesaling business and it has proven very effective and blows away the ways that the average realtor does business. Instead of selling homes that I find directly to investors, I can tie them up myself, and either pass the contract onto them for not only a commission, but a large assignment fee as well, or I can close on the home and either wholesale it to another investor, or rehab it myself and make REALLY good money.

I used to think that being an agent who made 6 figures in under 15 hours a week was the best, then I started wholesaling, and assigning. Let me tell you, there is no better or higher paying job that I can think of than being a realtor and wholesaler/rehabber.

Not to toot my own horn but only 15 days into march I have already made 120k flipping, wholesaling, and assigning real estate. Not to mention still selling 3-4 homes a month to other people. All of that in under 30 hrs a week.

I cant emphasize this enough, if your a realtor, do get involved in real estate investing one way or another.