Got my first phone call from yellow letters!
I have been driving for dollars over the last few weeks and mailing yellow letters that I write. I have only mailed around 20 letters so far. I have a lot more ready to go, but I'm only sending a few each day. I'm looking for properties that I can wholesale or keep as rentals.
I got my first phone call today! All the learning and knowledge went right out the window. I was nervous and could barely speak. The lady was very nice though. She owes too much on her house and she is 6 months behind. The mortgage company has not started the foreclosure process yet. I told her that the only way I could help her is if the mortgage company will do a short sale. The house needs a total rehab so I've got to get it for very cheap. It would make a great rental property if I can get it at the right price.
She is supposed to talk to her mortgage company tomorrow and call me back. So, whether this works out to be a deal or not, I'm still very excited about it. Yellow letters work! I'm sure talking to people about their properties will get easier over time. I've never done a short sale before. I'm nervous now that she will call me back and say the bank wants my offer. I guess I will just figure it out from there.