My mail campaign is working well in the sense that im getting alot of calls. Alot of them are houses that are underwater. Ive researched it a little are here, but what are some other peoples strategies for these scenarios ? Id like to find a way to use the leads even if its as simple as handing them off to a short sale agent.
Hi Corey - I'd back up and ask, why is your marketing producing leads where the sellers are underwater? Those are problems that an REI investor cannot solve - sure you can pass them off to an agent but that seller doesn't even have cash to pay commissions, so yeah, maybe a short sale, but again, should you be trying to solve those problems? You can offer advice but I'd move on from those leads ASAP. No gold in that mine.
Consider doing marketing where you start with a list of home owners with at least 40% equity, using a source like Listsource.com. When you start with only people with equity, your calls will be more likely to be problems that you can solve (and make a PROFIT).
My list comes from the notice of trustees sale at the county. So without cross checking i dont have any idea of the LTV ? My list may inherently be prone to underwater deals because of the NTS but id love to filter them out, or have an answer
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