Should we Drive or Mail Foreclosure our List - Posted by Edith

Posted by Ken on August 25, 2009 at 23:49:45:

Everyone is going to have their opinion about this and there is no RIGHT answer. It depends on your personality, your desired results, and your own individual skills in negotiating.

I personally went through a Foreclosure over 20 years ago but the emotional things I went through are exactly the same that couples go through today and I personally would not have talked to ANYONE that had come to my door, because I thought I could handle it myself. And most in PFC are in “denial” There are those investors that have had great results from direct mail and there are those that have had great results from door knocking. You have to decide for yourself. Whatever you do make sure there is FULL disclosure to your sellers in PFC so that you are not sued later for not disclosing everything.

Happy investing to you.

Should we Drive or Mail Foreclosure our List - Posted by Edith

Posted by Edith on August 24, 2009 at 21:57:23:

Me husband and I just started looking into doing lease options deals for people who are in the pre-foreclosure stage. We have a long list from the courthouse and I was wondering would it be more effective to hand write a letter telling them we are interested in buying their property fast or would it be better for us to drive there in person and talk to them face to face.

I’m sure there are disadvantages with both of these but what would get more real deals in the long run.


Caution…did your state enact laws against? - Posted by John Merchant

Posted by John Merchant on August 27, 2009 at 10:45:34:

A number of states in just past 2 or 3 years have enacted legislation very much against such contacts and business soliciations by PF buyers such as yourselves.

Here in my State of WA, e.g. ANYBODY making such contact with that “Distressed” homeowner now automatically becomes that HO’s FIDUCIARY !!! with lots of duties to that HO.

This WA legislation has pretty mcch killed such pre-FCLR contacts as few pre-FCLR buyers wawnt to assume such onerous duties to that HO.

So check the lawa in your state to see if your state has passed some version of this law to protect its legally distressed HOs.

Re: Should we Drive or Mail Foreclosure our List - Posted by IB (NJ)

Posted by IB (NJ) on August 26, 2009 at 09:54:56:

Try both, Send a letter (personally I HATE handwritten letters but to each his own) and then follow up with a door knock if you don’t hear anything.