Wholesaling: Knocking On Doors

3 Replies

Hi BP,

I am starting by wholesaling houses. I knock or drop off a postcard 10 times a day since Wednesday. My list is of pre-foreclosures that have equity>30%. This was recommended to me but is this a good list? People seem pretty upset when I knock on their door like this and I am not even making any social mistakes. Is there a better way to open these people and what criteria should I use when purchasing a list? Even if they are mad will they eventually call me back(statistically speaking, of course not all will call me but will I get a decent amount?) since the reason they are upset is probably because they are missing payments (i dont say this to them ever)?

Any advice is appreciated in this time of ambiguity.

What do you mean by social mistakes?
I would say knocking on someone’s door who is going through the struggles of pre-foreclosure would be considered socially taboo by most people who are not in the real estate space.

Potentially losing your home is a very emotional thing. Their sense of independence, and security is being stripped away because they can’t properly manage their money. Now another person is knocking on their door, and reminding them of all the things they are failing at.
(Not your intention, but that’s likely how it will be perceived)

If your going to cold knock on doors. I would first expect the worst.
Second I would not press hard at all, but make yourself known.

Im just starting In wholesale myself, I haven’t knocked on doors yet but when I do I would do something like.

“Hi, my names Jacob Brown. I’m in real estate.
I see you maybe going through a rough patch. I wanted to leave my card with you Incase I could be of any assistance”

But most of that can be handled through a postcard, so I’ll likely do that until I get some confirmation they are ready.

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