Door knocking for Subject To's or Listings (at the very least)

2 Replies

Hello,

I am going door knocking this weekend to find “Subject to” properties that I can take over their loan and do a Rent to Own or sell for quick cash or short sales that I can be the listing agent on (if they are too far underwater), and of course any regular listing. My plan is to map out a neighborhood, knock on 100 doors or so and ask them if they are looking to sell their house. I am going to start doing this every weekend and wanted to get some advice. Any help on any of the questions below or anything you can think of is much appreciated:

1) Should I take a flyer/business card and leave with the homeowner or on their door? What do you think is most effective?

2) Do you think this is the best use of my time – door knocking?

3) Any other ideas to help me find properties that I can take over their loan? Ideal candidate is someone who is moving states and just needs to get rid of property or similar (divorce, probate, etc).

4) Any tips?

Thank you in advance,

John

1. Yes. Leave a letter explaining how you are there to help them if they are considering selling. And of course mention that you pay referral fees if they send you to someone else.

2. Yes and no. I've not done door knocking but I've heard from many that it brings the best strongest leads. Its also very time intensive. I would suggest finding a list from list source and narrowing down to 3/2s  (or whatever it is you want to focus on). I think they sell preforeclosure lists as well I'm just not sure how up to date they are.

3. See above. Check out listsource.com. They can find absentee owners for you - at which point you wouldn't be door knocking and meeting the actual owners. I find my probate leads inthe legal section of the classifieds.

4. I'll through a different one out there. Smile to your self as you're going from property to property. Smile at yourself in the mirror before you leave your car and you'll come off more genuine and trustworthy. I'll do it when I'm in a cranky mood. I also do it on the phone and I sound more approachable - somehow it reads over the phone.

John

If I understand you correctly you are just going to random doors? If so that is a waste of your time. Try the same thing with FSBO signs and you will make some money. You will also get some great practice interviewing sellers. When we talk to sellers it is an interview. Its almost a friendly interrogation. The key thing to understand is their problem. Nobody sells a house just for the heck of it. They sell a house to solve a problem. If you can uncover thier problem then you can offer a solution.

If you are looking for marketing advice, I did a post on "what is your best marketing technique" search this site for it.

I hope that helps

Josh

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