I just picked up a list from the county of notice of defaults. Has anyone had any success cold calling on these? My wife is willing to make the calls, which seems like it may be advantageous. How do you start that conversation with someone?
Similar question: Have you ever just called on a property that is not for sale and had success?
Last night my wife and I walked through the neighborhood scouting out duplexes (not for sale). Today I have been trying to find contact info on the owners to call them.
Great idea! Go for it!
I've mailed to homes that interest me, finding the owner off the county records, and I've gotten some calls back.
First, listen to the owners and find out what the problem is. With that, you can suggest a solution. What is your solution? Just to buy their house for cheap? With cash? Quick closing? How are you going to help them?
This is not my expertise, keep searching for different forum threads or blog posts, there is lots of information about wholesale phone screening and negotiations.
I cold call quite a bit. It is one of my favorite forms of direct marketing mostly because most other investors will not take the time to do it. Yes I have landed deals from this strategy. Since I target off market properties pretty much 100% of my cold calls are to properties that are not for sale.
You will have to decide on the script based on the situation. Typically I just tell them I am a local investor looking to add to my portfolio. If I get the sense that they have been hit by tons of direct marketing and are sick of the solicitation then I alter the approach and say my wife to be and I are looking to move to the neighborhood or I say my wife and I are looking to pick up a secondary residence. I would only use the first line if it is truly a place we have considered moving to. In the end the truth will come out so no need to mislead them from the start, they will appreciate the honesty.
With cold calling I have found that a soft and gentle approach quickly extinguishes an irritated call recipient. One last thing, make sure you ask every person you speak with if they know of anyone else looking to sell.
Do u have their phone numbers on that list? Or you are going to look for it?
It is more common to send letters/cards or leave door hangers on those houses but if u do have a number, of course u should try calling and letting these people know that you got their info from public records and want to see, if there is anything you can do to help.
But first think thru that convo: u are gonna call someone who isnt paying for their mortgage... very delicate situation and u must be very gentle.
I've called on the off market houses many times. People either say "do not call me" or discuss... so there arent that many out comes.
Cool, thanks guys. This will be my first attempt at trying to find a deal off the MLS.
I don't have their phone numbers, but I think I can hunt down at least some of them. Most of the owners are local and live within a 30 minute drive.
After work tonight I plan on making some calls.
Can someone show me what a notice of default looks like? My city's records office said that this isn't public and a person has to go to the courthouse to see them but I just saw a posting titled "
Legal and Public Notices for the week of October 24, 2016" in a local paper. Is this the same thing?
@Andrew Michael , thanks for sharing. Where do you get your numbers from? I have a team of cold callers and our biggest issue is getting more and more numbers each day. Thanks!
Driving for dollars, word of mouth, referrals, purchasing lists, skip tracing, door knocking, MLS data mining, etc.
If you are having trouble keeping your team busy it sounds like you may need to purchase a list of fresh leads or scape the MLS. There should always be numbers to call and leads to follow up with.
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