How to market to people in foreclosure?
 

Hi guys,

I run a small part-time business where I work with homeowners in foreclosure to help them with their predicament. Sometimes I can get them loans to tide them over until they get re-financed, a settlement check or what-have-you. Sometimes I can help them declare BK to save their home, and other times, I can help them sell their home and save their credit.

I offer a valuable service, where I work pretty hard to help the homeowner. The problem is that the competition out there is pretty stiff.

There are many real estate investors out there who are looking to just assume some homeowners mortgage without really considering their needs.

I need to market myself differently.

Right now, I do a variety of sending flyers/cards via snail mail and knocking on their doors to talk to them.

Is this the appropriate forum to ask advice on best/novel approaches to tackle this market?

Thanks so much!

Chris

Here's something to consider...
 

What if you could send a letter to people with a headline that read;

"I CAN STOP FORECLOSURE PROCEEDINGS...SAVE YOUR HOME....GET THE FINANCIAL PEOPLE OFF YOUR BACK...AND YOU WOULD NOT HAVE TO MAKE A HOUSE PAYMENT....FOR THE NEXT TWO YEARS!"

Now...I've never done this BUT...I heard of someone who has. There's an old law on the books that states something like;
"Anyone entering the armed forces is EXEMPT from foreclosure proceedings during and until they serve their time in the military!"

You'd have to check with an attorney but, I know there's a FEDERAL Law that says this so...what I "heard" that has been done was...this person went to a recruiting office...found a young man who was joining the military...made an agreement with the young man whereby the young man would be assigned part ownership in the house and at the end of his military term...sign the part back to the homeowner.

Any fininancial institution would be FORCED TO STOP foreclosure proceedings or incur the WRATH of the gummit.

Again...I don't know what law this is HOWEVER...I heard that this was done recently when a young man joined the military and all proceedings against the delinquent homeowner were stopped.

Worth going to a Law Library to check out.

You could do a service to these people, giving them some breathing room...beat out competition and collect a pretty nice fee.

Don Alm

> Hi guys,

> I run a small part-time business where I
> work with homeowners in foreclosure to help
> them with their predicament. Sometimes I can
> get them loans to tide them over until they
> get re-financed, a settlement check or
> what-have-you. Sometimes I can help them
> declare BK to save their home, and other
> times, I can help them sell their home and
> save their credit.

> I offer a valuable service, where I work
> pretty hard to help the homeowner. The
> problem is that the competition out there is
> pretty stiff.

> There are many real estate investors out
> there who are looking to just assume some
> homeowners mortgage without really
> considering their needs.

> I need to market myself differently.

> Right now, I do a variety of sending
> flyers/cards via snail mail and knocking on
> their doors to talk to them.

> Is this the appropriate forum to ask advice
> on best/novel approaches to tackle this
> market?

> Thanks so much!

> Chris




Reprint Rights to 3 of my Proven Products!

How to get cheap land from people in foreclosure? [DNO]
 

dno
> Hi guys,

> I run a small part-time business where I
> work with homeowners in foreclosure to help
> them with their predicament. Sometimes I can
> get them loans to tide them over until they
> get re-financed, a settlement check or
> what-have-you. Sometimes I can help them
> declare BK to save their home, and other
> times, I can help them sell their home and
> save their credit.

> I offer a valuable service, where I work
> pretty hard to help the homeowner. The
> problem is that the competition out there is
> pretty stiff.

> There are many real estate investors out
> there who are looking to just assume some
> homeowners mortgage without really
> considering their needs.

> I need to market myself differently.

> Right now, I do a variety of sending
> flyers/cards via snail mail and knocking on
> their doors to talk to them.

> Is this the appropriate forum to ask advice
> on best/novel approaches to tackle this
> market?

> Thanks so much!

> Chris

Or offer them a loan to get out of foreclosure?
 

I'm not quite sure what I wrote in my message to make you assume that I'm trying to get cheap land.

I know that people out there do it. Tons in fact.

There are also loans out there for people to help re-structure their debt so that they can have a short breather to re-instate their loans.

Now given the choice, most people would rather save and keep their homes if they could. I don't own a stick of real estate besides my own home. Most people don't understand their choices though.

Now I don't know what I wrote to make you think so poorly of me. But for whatever it is/was/will be.
I am sorry.

Great Idea! I'll have to check into this! (DNO)
 

dno

I didn't think you were trying to get cheap land ....
 

Hi,

I didn't think you were trying to get cheap land; I'm interested in getting cheap land.

My current plan is to wait until the ongoing deterioration in the economy produces some great deals.

Best,

- Boyd

Re: I didn't think you were trying to get cheap land ....
 

Boyd,

Sorry man. I guess I overreacted because everyone else who I've talked to about this assumes that I'm out there trying to "rob people of their homes."

It makes me a little defensive.

Sigh,
Chris

> Hi,

> I didn't think you were trying to get cheap
> land; I'm interested in getting cheap land.

> My current plan is to wait until the ongoing
> deterioration in the economy produces some
> great deals.

> Best,

> - Boyd

Investing in vacant land
 

Boyd -

Buying vacant land at the bottom of the real estate cycle, riding the upcycle higher until it ends, and then selling at the peak ... offers you more upside leverage than any other type of real estate investment.

Most people don't realize that it is the land that is appreciating most, not the bricks, lumber, and nails that sit on top of the land.

The cost of the improvements (labor and materials) appreciate at about the same rate as inflation. It's the value of the underlying land that is most affected by the swings in the cycles.

Of course, as compared to houses, investing in vacant land does have it's disadvantages ... no income, harder to finance, property taxes, etc. That's why market timing can be critically important: the downside can eat you alive.

Robert Campbell


Timing the Real Estate Market

Good point.
 

> Most people don't realize that it is the
> land that is appreciating most, not the
> bricks, lumber, and nails that sit on top of
> the land.

> The cost of the improvements (labor and
> materials) appreciate at about the same rate
> as inflation. It's the value of the
> underlying land that is most affected by the
> swings in the cycles.

You can really see it when you compare the prices of houses over time to the prices of apartments.

In my area, apartment prices have gone up slightly over the last ten years. Stuff which was going for $120k ten years ago is now selling for maybe $180 at the top end.

Houses, on the other hand, have gone from prices around $150k up to $300k+ at the normal end.

There is also something else to consider in this regard... most people who buy houses buy to own. Most people who buy apartments buy to rent out.

Michael Ross

If the bottom is *really* a bottom ....
 

Hi,

First, thanks for your intelligent and knowledgeable replies to a couple of my messages. I really appreciate it.

If the bottom is *really* a bottom do you think desperate landowners might be willing to trade land for goods they might need at that time, such as food or handy hardware of various kinds?

TIA,

- Boyd