Question about preforeclosure mailers

4 Replies

there is probably a thread about this but I didn't find it.

I've done some mailers to preforeclosures and at least 60% of my calls from the marketing campaign is people just wanting to know how I found out about their preforeclosure status.

Question 1:

Is there something I can do with the mailer message to reduce this?

Question 2:

What is a good script I can use to answer this question and maybe change their attitude from defensive to realizing that it be able to help them?

I would back up and ask, what is your intent in marketing to this group?  Are you looking for wholesale or cash purchase deals (flips)?  One thing you are going to find with the pre-foreclosure group is they often have NO EQUITY, which is really important if you are wholesaling, right?

With "pre's" you're going to end up with some short sales and a bunch of sad people that you cannot help.  I'd be really surprised to find equity in this prospect pool.

@dev horn One activity I've seen with pre's is to purchase the property then do a lease option back to the original owner. In effect rescuing them. Not sure if this is the aim here but it's a viable option. And not all pre's are low on equity. Could have been in the house for a while and had a temporary setback.

I have multiple options of what I'm trying to do. I'm am agent, so if the house is in good condition I can list it for them, if it needs major renovation I can wholesale it, and if the renovation required is a bit less heavy lifting, I could flip it.

In regards to doing a lease option back to them, every short sale I've bought in the last two years has a page I have to sign and notarized that says I won't do that. I'm signing and promising that I won't have any back end deals to resell, rent or lease back the property to the former owner.  

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