Originally posted by @Cornelius Charles:
@David Dey
Thanks for the great information. What lists are you making the cals to? I assume that a standard absentee owner list wouldn't be worth the time since most of them will probably not be too motivated.
Thank you for your kind words. The fact is I create my own lists. Our groups personal motto is, "the money is in the research."
Our business model is "Professional problem solver!"
We use specific psychology to create each list depending on what we are looking for.
Ex: if looking for properties with creative finance (perfect for rentals or rent to owns) we have VA's go through the public records looking at evictions every week, always a week behind. (So this Friday I would get the list of evictions for the week ending last Friday)
I have them weed through and pull out all management company evictions, and apartment complex evictions and narrow them down to only single family properties and small 2-4 unit properties where the eviction is done by the owner.
Once they narrow the list down to the target market, they pull up the complaint which includes the pay or quit notice which always includes... Wait for it... The owners phone number!! (Most often a cell phone)
The thought process is that owners have a more emotional response to a tenant default then a management co, and at the height of his/her agrivation gets a call from our appt setter saying that they work for a company that buys rentals that would be interested in their property allowing them to sell and maintain cashflow without having to deal with toilets and tenants.
We had a tremendous response of owners that were willing to sell with terms.
Now before you go off and start a program off this one post, let me be clear. This is not a wholesale or deep discount concept, the owners for the most part did not want to discount their properties tremendously, though of course we had a few. Where this concept worked was in getting good terms to buy the units with little to no money down for rentals or to wrap around the financing and offer rent to owns or owner financing and getting good down payment profits.
Hope this helps!!