I was wondering does any investor on here specialize in door knocking "notice of election and demands," late lists, or any other lists?
If so my question is how many doors do you typically have to knock on for 1 deal for NED's, lates, or any other lists?
Also, whats your approach when door knocking?
an effective way to land deals... you need to knock many doors..
It depends on where someone is during the distress cycle. if they are just entering it they still think they can rescue and many times they can .
Pre 08 an the changing of the laws. we door knocked about 5 days before the actual sale. and most deals were consummated within 24 to 48 hours of trustee sale.. by that time owner realize's they need to take action or they are going to lose house and their equity.
It was a scramble. we had courier services that would run cashiers checks up to the main trustee in our market that was Located in Seattle and was on first name basis with the two ladies that ran most of our Oregon foreclosures..
Give it a shot people can only say no
Jay Hinrichs, TurnKey-Reviews.com | Podcast Guest on Show #222
Thanks for the reply!
To confirm, you're saying that your strategy was to door knock high equity home owners and door knock them 5 days before the sale because they're more likely to be in the acceptance phase of their distress cycle, and with them having high equity you could work out a deal with such short notice?
Also, how soon would you door knock owners that did not have enough equity so you could get a short sale offer submitted and yet they're more likely to be acceptance phase?
Also, using a ball park figure how many would you say you would have to door knock per deal?
Gee Michael, you haven't even knocked in a door and you want to know what the results will be?
Way too many variables to estimate what your success will be. Like how you filter your list(s), amount of equity, access by competitive door knockers, your effectiveness with owners, your persistence, personality, sales skills, etc.
Door knocking is hard work, even when the weather is beautiful. Personally, I learned to truly love knocking on doors and tap into my "inner Columbo" and become a good investigator of people's situations to uncover the facts and circumstances and especially the opportunities.
I started in the late 70s. Stopped seeing people in the mid 90s because I work too large an area (all 58 counties of California, now) and, frankly only see properties rarely, when they interest me and typically long after I own them of have already made a loan.
I've been observing a friend who is learning the business from the ground up, so to speak. I told him that he'll need to knock on at least 100 doors before he sees a deal.
Thanks for that reply.
Actually, I have knocked on a few doors, I just know I haven't been consistent enough (probably about 20 doors).
I was just looking for a ball park number so I have something to shoot for then analyze my results.
Knock. Talk. Listen. Learn.
Did I see this posted in the wholesaling forum? Better place for it.
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