These policies keep our pipeline to good deals active.
■ We make at least 20 to 50 phone calls a week looking for good deals.
■ We develop relationships with mortgage companies, finance companies, and other professionals involved in foreclosures. We contact them biweekly to let them know we are looking for properties (either through a phone call or a letter or both).
■ We immediately get an owner or seller on the phone and fill out our property acquisition sheet (it states what we can get the property for, cost of repairs, current market value, comparable sales, mortgage to be paid, reason for selling, length of time on the market, how much they bought it for, and how long they have been trying to sell it). If it sounds like a good deal with at least 25 percent profit margin, we put an offer on it and get a contract signed once we feel comfortable with the numbers.
■ When an offer is signed, within that business day we begin marketing it to people on our list of potential buyers by making a flyer and calling.
■ We never set a price on the property but let the market determine price by asking potential buyers, “What would you pay for this property?”
■ When someone wants to put an offer on any of our properties, we never sign it unless the prospective buyer is preapproved and can show written proof of the preapproval or availability of cash to close the deal.
■ We make at least 20 to 50 phone calls a week looking for good deals.
■ We develop relationships with mortgage companies, finance companies, and other professionals involved in foreclosures. We contact them biweekly to let them know we are looking for properties (either through a phone call or a letter or both).
■ We immediately get an owner or seller on the phone and fill out our property acquisition sheet (it states what we can get the property for, cost of repairs, current market value, comparable sales, mortgage to be paid, reason for selling, length of time on the market, how much they bought it for, and how long they have been trying to sell it). If it sounds like a good deal with at least 25 percent profit margin, we put an offer on it and get a contract signed once we feel comfortable with the numbers.
■ When an offer is signed, within that business day we begin marketing it to people on our list of potential buyers by making a flyer and calling.
■ We never set a price on the property but let the market determine price by asking potential buyers, “What would you pay for this property?”
■ When someone wants to put an offer on any of our properties, we never sign it unless the prospective buyer is preapproved and can show written proof of the preapproval or availability of cash to close the deal.
