Door Knocking for Pre Foreclosure Leads

Lessons Learned

BoomerangLLC@nc.rr.com (Marty Schulting) — Fri, 02 May 2008 11:59:00 GMT

I was talking with one of my students (Tom) yesterday about his door knocking for pre foreclosure leads for his short sale business. He said that he was getting enough leads to keep his pipeline full, but that he felt like he was missing something. His foreclosure market is generating a ton of new foreclosures every week and that he felt like he should be getting even MORE leads, even though he already has more than enough to keep him more busy than he wants doing short sales. I asked him to tell me about one of the houses he door knocked. He said he knocked on one woman's door and she was very pleasant (as everyone is, because of his approach...). He told me some things about this, that I'll discuss at the end of this entry. Anyway, he was door knocking and he knocked this woman's house. She told him that she was going to reinstate her mortgage and that her foreclosure would be stopped, so that he did not need to short sale her house. She did agree, however, that if she needed to sell, that a short sale would be necessary because she did a no money down deal when she purchsed. Anyway, I asked Tom when he was going to follow up with her. He said he wasn't sure. I then asked him HOW he was going to follow up with her. He said that he knows where she lives, that he'll just knock again. I then asked what her phone number was. He didn't have it, nor did he get it. HERE IS HIS MISTAKE!!! ALWAYS ALWAYS ALWAYS ALWAYS get a phone number. In my course I give you techniques for getting the phone number every single time. It is critical in the pre foreclosure business when you're door knocking. Having the number will make follow up easy, and you'll actually do it. Do you think Tom is really going to door knock her house again? Probably not. Would he call her? Absolutely. So remember, when you're door knocking, get their phone number every single time. This will increase your pre foreclosure deals because even if the homeowner says they're going to reinstate, they more than likely will not be able to. You built rapport when you door knocked and when they can't reinstate, you'll be there to do the short sale for them to save their credit from the foreclosure and save them from the subsequent deficiency judgement.

Now go hit the streets!!!

Take care,

Marty Schulting
Door Knocking Expert
www.DoorKnockingExpert.com
www.GetEveryDeal.com

Getting Started

BoomerangLLC@nc.rr.com (Marty Schulting) — Wed, 13 Feb 2008 02:28:00 GMT

The first time I went door knocking, I was terrified. I had no idea what to expect. I had no idea which houses to door knock. I had no idea what to say, if I'd be yelled at, how to find the houses, what the homeowners might say to me, what to wear, where to stand... I had absolutely no idea how to door knock for preforeclosure deals. On the flip side, I was broke. My preforeclosure short sale business was at rock bottom. I had worked some deals had my first paycheck in my hand, but my business was failing. I needed more deals, and I KNEW that door knocking was the way to get them. So with that in mind, I took a deep breath, and knocked on my first door.

This was years ago. Today I am a confident door knocker. Why? How? Well, I've knocked more doors than I can count. I've gotten good at it, in fact so good, that I get nearly every deal that is there to get. By that, do I mean that every door I knock on I get as a deal? Of course not. Not every door you knock on will need your assistance. The key is to figure out which of the doors will be a deal, and convert those people to work with you instead of anybody else. Almost every door I knock on, if there is a deal to get, I get it. How? Because I've developed a way and a system for talking with these people. And now I will give you some insight into how I do this.

First off, you need to know that most people who are facing foreclosure are not thinking clearly. DO NOT TAKE ADVANTAGE OF THEM! If you do, it will come back to bite you, I promise.

Ok, now that that's out of the way, where do you start? Well, you start by knocking on the door. When the person comes to the door, you need to address them with some sort of opening line. You can say whatever you want, but from my experience, there are things that should be said, and things that should not be said. Think of it this way, if you were on the other side of the door and you were facing foreclosure, what would you want someone to say to you? Try this... tell them who you are, what you do, and how you can help them. Be honest and sincere and you'll be fine. That's how you get started in this business.

Good luck!

Marty Schulting
www.doorknockingexpert.com
www.geteverydeal.com

Door Knocking

BoomerangLLC@nc.rr.com (Marty Schulting) — Wed, 04 Apr 2007 00:17:00 GMT

Hello! My name is Marty Schulting. I am a Real Estate Investor in Raleigh/Durham, North Carolina. I specialize in short sales on properties in foreclosure. Basically, I market to people in foreclosure, and when they decide to work with me, I either help them stay or sell, whichever avenue they wish to take. I have done multiple forbearance agreements for people, loan modifications, even helped people simply reinstate their mortgage (the bank was even making it difficult for them to do that). All the loan workouts I do are free of charge. I make my money when people decide they want to sell their property. I do this by stopping the foreclosure and doing a short sale on the property, preforeclosure.

I started my business in Kansas City, and moved to Raleigh almost a year and a half ago. In Kansas City, my marketing was 100% direct mail, because it worked beautifully. Raleigh, however, was a different story. I found myself frustrated becuase direct mail just didn't work that well with homes in foreclosure. I have friends throughout the country that had similar problems with their direct mail. I decided that I needed to go door to door to the homes in foreclosure (preforeclosure door knocking) in order to find my deals. In short, door knocking has been a tremendous success. Two weeks ago, I closed a deal and walked with a paycheck for $40,949. That property was a preforeclosure and was found via door knocking.

I started this Blog to document my successes, challenges, and failures with door knocking on properties in foreclosure. My hopes are that people will be able to learn from my experiences. I also hope that I can learn from other people who respond to this Blog.

I wish you the best, and thank you for reading my Blog.

Take care,

Marty Schulting
www.doorknockingexpert.com
www.GetEveryDeal.com