Doorknocking N.O.D. (pre-foreclosures) in San Diego
Hi BP,
A few things to know about me:
-I have 0% real-world experience when it comes to anything in the real estate industry (including not yet being a homeowner).
-I have been self-educating myself for the past year or so in the general real estate subject, and I've been specifically interested in (one day) owning some cash-flowing rental properties. BP has been a great resource for me when it comes to helpful material on this topic, which is why I'm reaching out to you now.
-I work a traditional 40hr/week job
-I am excited to gain any/all experience in real estate. It fascinates me and I see the value in it and the lifestyle it could potentially offer my family and me.
I recently got the opportunity to join a wholesalers team and knock on pre-foreclosures on the wholesalers behalf for a cut of the spread. I really like the simplicity of the business model, especially how "cut and dry" a deal can be in regards to whether the numbers show a potentially profitable acquisition or not. My question for you all is, do you have any real advice on how I can be the most successful at this? Here are some questions:
When is the best time of day to make contact?
When is the best time in the foreclosure process to make contact?
What should I have with me?
What should I wear?
What should I say?
Should I file for an LLC or some other legal business entity to reduce taxes on any income generated from this venture?
What has been your experience doing this?
I know one of the most valuable things will be for me to actually get out there and DO IT and learn from that, which I have been doing, I just wanted to see if there was any other value or knowledge I could gain from anybody out there. Thanks so much in advance!
-G