Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
Hey everyone,
So I was at my title company signing yesterday for a triplex I'm picking up, and I asked them if they had any kind of service for investors to email leads to them. They put me on their list and sent me a bunch of "Notice of Trustee's Sale" documents from this week.
So now I'm wondering... what should I do with these? What would you do? Direct mail to them, call them, ignore them? Thoughts?
Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
12y
We pick through the ones that have a high enough margin after the lender is satisfied & rehab etc. Then we personally contact the lender if it's possible or find the local RE agent that handles many of the foreclosures & remedial work.
However, those you are getting are relatively new 'notices' so the lender(s) would be reluctant to take a huge loss whereas older foreclosures that sit (esp here in the winter) for several years are up for grabs & need more rehab.
Rental Property Investor · Glendale, CA · Member since 2012 · 23 posts · 9 votes
12y
Direct mail, and follow up with a phone call/knock on the door.
I have found taking the position of an empathizer and educator with "Notice of Trustee's Sale" leads is the most effective approach.
Keep in mind, though… it's just another form of prospecting. It's still a numbers' game that will dole out more duds than studs, but all you typically need is one or two studs out of every batch of leads for it to all be worth it.