Hot Pre Poreclosure Lead Ghosts You?

Question

My wife and I door knocked last Saturday. A few days later we got a very receptive response from an owner who we had left a brochure at the door. They were interested in getting a cash offer. The next day all communication went dark before I was able to schedule a time to meet or give them an offer. The first lis pendens notice was on the 23rd of Dec. As far as I know there is no auction date scheduled yet.

Would you:

1. Go back after a week or so in person to follow up?

2. Give then space until they come back to us?

3. Other?

My fear is either scaring them away by being pushy or losing the deal to another wholesaler or foreclosure.

Thanks, Zach

Would you:

1. Go back after a week or so in person to follow up?

2. Give then space until they come back to us?

3. Other?

My fear is either scaring them away by being pushy or losing the deal to another wholesaler or foreclosure.

Thanks, Zach

Zach Terhune · Answer

@Andy Mirza I like that approach. Thank you for the insite and tips!

Andy Mirza · Answer

@Zach Terhune First, you need to check the laws in your state on how you can approach owners in pre-foreclosure. Some states have very strict laws against "preying" on people in foreclosure and you don't want to get yourself in trouble.

Assuming you are allowed to make further contact, I would try the door knock approach again with your offer in hand. Be ready to strike the deal then and there. If they're motivated, there's a chance they'll take your deal. If not, put them on the back burner and schedule follow up calls and e-mails, in case they change their minds.

If you have two face to face contacts, you'll have an advantage over the million other investors that are probably trying to contact them by phone and mail. But, if they're not motivated to sell, don't spend that much time on them. Find other deals.