Developing Relationships With Banks - REO Leads/Offers/Purchases!

I ran across another thread that I responded to with the information below and decided to re-title my response with my own thread on the topic.

I hope this helps prompt ideas, paydays and ACTION for everyone. Anyone can do what I have outlines below. No excuses, No cost....JUST DO IT!

I was planning on going out to local mini banks in the area tomorrow to do some canvassing in person and "attempt" to open business accounts with them and weave the asset manager into the discussion.

This is what I have done before.

-Go to the bank
-Sit in the chair and wait to be called (make sure you are dressed like a million bucks!)
-When they ask what they can do for you tell them this "I am a real estate investor and we are doing a lot of business in the area. Having an account locally would save us time when dealing with our investments in the area. I was wondering if we could sit down and talk about the different types of business checking account that you offer so that I can see if they may fit for my business needs.
-they will walk you back to a cubicle or office at this point if your not already there
-talk about the account and the benefits and fees and such and ask them what the require to open the account as far as paperwork and deposits blah blah blah
-Politely advise that you are thankful for the information and need to discuss it with you partner and gather up your required documents that are needed to open the account.
-just when the meeting is about over and the account discussion is done and you are about to shake hands and say thanks THEN YOU SAY!
-"Well this does sound like something that we may further pursue but while Im here do you know if you have any bank owned properties that may be available for purchase?
-their eyes will light up with glee and they will say...Yes let me introduce you to (the asset mgr, or branch mgr) If you get a no, hes not here or shes not here...ask for the contact information and when they are avail to chat.
-at this point you should be sitting with the Asset Mgr or Branch Mgr and in a happy discussion about how you may be able to help the bank get some of these properties off of their books.
-now you are set and you can do anything you want from there.
-if the asset mgr is not avail at the branch, ask to be introduced to the branch mgr anyway as part of your decision to open an account...then discuss your interest in the REOs and on your way out ask the branch mgr to email the Asset Mgr and give you a call because you will be on the road all day and would like to initiate contact with them asap to discuss business.

keep in mind this took $0.00 dollars...you are in person, and you look like a million bucks and will be taken seriously, you get answers and information immediately and not days from now, and you never got a voicemail and there is no chance to get disorganized and not know who you are talking to! THEY WILL TAKE YOU SERIOUSLY!

LET THE NEGATIONS BEGIN!

Get out of your comfort zone! If your comfortable your doing something wrong! This will get you in a bank, and more importantly, in a bank and talking about real estate! You need to be ok with talking to banks, and talking to professionals and talking about money in this business if you want to succeed. Just get out there and take action. If your nervous go to bank of america and do this at every branch in 30 miles of you and practice til you get it and then hit the banks you want to work with. STOP MAKING EXCUSES!

"TOMORROW WILL BE THE SAME AS TODAY IF YOU DO THE SAME THING TODAY AS YOU DID YESTERDAY!!" -Bernard (I'm sure someone else said that first but I'm claiming it as my own cause I believe that I thought of it first, on my own ha-ha)

I hope someone actually goes out and tries this!!!!...this took a long time to type up lol....it works...I do it all the time....I find that its a better first impression than a phone call.

But more so ...I hope you try this so you can come back and tell everyone how awesome you were and how great the experience was.

Make sure to leave your card behind with everyone you speak with at the bank! They might call you for personal related solutions that they need your help with outside of the banks walls!!!!!!!!!!! It happens!