The #1 Way to Reach out to Homeowners in Foreclosure
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- Опубликовано: 2 окт 2024
- In the sixth part of the foreclosure series, Pace Morby and door-knocking expert Michael Franke break down the foreclosure process and provide valuable insights for real estate investors. They dive deep into what preforeclosure is, the foreclosure timeline across different states, and the best times to reach out to homeowners in preforeclosure.
Michael explains the intricacies of notice of defaults (NODs), who actually forecloses on the house (hint: it’s NOT the bank), and where investors can find these notices. They discuss the mindset of homeowners in default and Micheal drops tips on when to approach them, especially if the homes are vacant. To illustrate when an NOD happens and when to reach out, Michael shares a compelling story about door-knocking a homeowner who wanted to move out due to a death but still wanted equity.
The video also covers the probabilities of securing a deal at various points in the foreclosure process and what homeowners might be considering, such as for sale by owner, bankruptcy, or loan modifications. Michael emphasizes that homeowners often turn to creative finance options in the last 10 days of foreclosure, after exhausting all other routes, because you, as the investor, have provided significant value and built trust.
Pace and Michael highlight the importance of building relationships with homeowners in foreclosure, explaining that trust and rapport are key to successful deals. They answer the crucial question of why investors need to engage early in the process rather than waiting until the last hour when sellers are most desperate.
For anyone interested in real estate investing, especially using creative finance strategies, this video is a must-watch. Learn from the experts themselves how to navigate the foreclosure process and build strong relationships with homeowners to close the best deals.
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Connect with Michael: / michael_franke
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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a RUclips video for entertainment purposes ONLY ❎
I have been looking for local foreclosures and I have called them and have been having success cold calling. I will keep going until I have a deal done!!!
That’s the spirit
So, the Trustee listed via the Law Firm is actually a third party? Is that equal to additional out of pocket expense for the Seller? My market lists these as NOD's but there are "trustees" named within the info. :) Also, is there verbiage for speaking to the County offices to get on a notification list? I check the website daily, but would be good know if I could be added to their list. :) GREAT stuff as always!!
Who sells data for homeowners that are 30 60 days late on mortgages?
Ask this in my free Facebook group paceapproves.com/freefb-ytc
Great video!! Very helpful! Took Big Notes!! I need an how to assign an assignment walk through!! What I need where do I look so that I can get it!! Thanks in Advance!! Alittle slow but I’m worth waiting on!! lol!!!!!!!
Join the free Facebook group man paceapproves.com/freefb-ytc
Love this guy!!!! Always educating us to be successful ❤
Can you get into this business as a Canadian remotely?
Of course. Many people in the group who are in Canada paceapproves.com/freefb-ytc
This is why I joined subto, to help people. Would love to knock doors as my time permits.
Lets goooo
Excellent presentation on Foreclosure Michael & Pace!
Thank you kindly!
Appointment is usually in a deed state and not a mortgage state (NoD)
Great Strategy, great community!
It sure is!
I selective door knock due to using my own $ for full purchases. I can close here in NC no problem. How do I come up with a coach to teach creative financing or wholesaling networks directly instead of just basic principle videos? I produce volume now, just need an outlet for selling the contracts.
I can help with that
Awesome , Amazing Presentation Guys! All the deals I’m pursuing at the moment are all foreclosures. Can you please also make a video containing a Script of what exactly to say to the homeowner? Thanks in advance!
Connect with Michael and join the free Facebook group paceapproves.com/freefb-ytc
@@PaceMorby thank you so much for sharing!
@@PaceMorby thank you so much for sharing!
@@PaceMorby thank you so much for sharing!
@@PaceMorby I’m in Pace’s group! 👍
Great job 👏
Thank you! Cheers!