Doorknocking does it AGAIN!! Grossed That is around $1875 per hour on this deal! $7,500 in Three hours!

We are looking to go nationwide with our pre foreclosure door knocking and REO acquiring strategies and free training! We close on a deal you provide, we pay 25% at closing!

Michael Mangham
MD Home Acquisitions LLC

Nice Job Mike sounds like you got your SHxx Together!! Tell me more about the nationwide And FREE Training!

Jay C

So exactly what do they do for you? I'd be willing to try it in Wisconsin.
That is really exciting for you! Since I plan to move to Colorado/Wyoming hope you leave some houses for me!! But I am trying to get a solid business here before I move.
Sandi

We will provide pre foreclosure leads in the zip code that you provide us. We will train you in the proper way to approach a homeowner by phone, then mail and finally door knock, lead by lead. You will need to provide accurate rehab estimates and ARVs. You and your team members will be our eyes on the ground. We will determine our offer and you will present it to the distressed homeowner. Then we will present the deal to the buyers list that you have that work that zip code.
How we proceed and what contracts to use depend on the state you are working, We will be doing simple contract assignments when dealing directly with homeowners.

Michael Mangham
MD Home Acquisitions LLC+

Yes, your buyer will do another deal with you again because you left a nice piece of chicken on the bone, enough to enjoy It's all about having a system in place, if it works don't change it & it shows that yours is working....keep going!

Everyone Can Make A Difference!
John A

Hi Michael,

What is exactly the "right way" to approach pre-foreclosure owners via phone first, direct mail second and door knocking third?

Thanks,
Tom W.

We try the phone 1st if we can find the phone number
We send a mailer if we can not contact by phone.
We then door knock if we get no response from our mailer. 2 weeks later.

All very low tech stuff leading to the face to face appointment and offer!

The right way to approach a home owner in foreclosure is to be compassionate!
Calling, mailing and door knocking with an introduction based on "Hi I see you are in foreclosure and I want to buy your house" usually does not work!

Anyway, that is part of our training!

REOs are another story altogether!!

Michael Mangham
MD Home Acquisitions LLC

Hi I been a member since 2008 with Dean's family
I'm still very new at this I want to be a partners with someone
Who is serious and I can learn from I'm intertested in training so I
can make some money so I can get my credit together and stop feelin
bad about being jobless.. Please PM and let me know

Teescott

Hi Michael, your 3 pronged system real sounds great. I would really like to know how to approach people with out upsetting them. Is their a few words or how you say it that would have people let their guard down? To make them know that your trying to help them not play on their misfortune. Do you deal with anyone that has their house listed with a real estate agent? Thanks for any information you can give me.

Bertha

That's exactly how it should be done. Everybody wins when you don't try to be a pig. Great strategy.

Here you go. This opening line works!

Hello_________my name is _________ I understand you are having a hard time with your house and I was just wondering what if there was anything I could do to help.

We use this on our phone calls and door knocking. Think of how you will respond when they ask. What can you do for me or how can you help me or how do you know I am having problems.

Do you see how this opening line will lead to a conversation about their situation, not that you want to buy? You must establish a relationship first!

Hope this helps,
Michael Mangham
MD home Acquisitions LLC

this is the best strategy to anything in life! Just make a decision to be the best and never slow down

HI Michael
just wanted to say hello. thank you for all forums you are contributing in, i am learning a lot from them! I am in the academy right now and looking forward making my first deal soon. Its interesting but i have a harder time building a sellers list then a buyers list. I know there is many ways finding distressed properties etc but what is your best strategy finding pre foreclosures? (post signs,flyers, court houses, internet, craigslist)?
thanks again and good luck to you!

Bertha,
I have found that when you approach these owners, most are stressed out,unhappy and pretty much know they will lose the home. I usually say " hi I'm Mike I realize abc mortgage is foreclosing, what can I do to HELP you? Be sincere and let them know you want to help them and stop the foreclosure and save their credit. It's also the RIGHT thing to do by putting some cash in their pocket instead of acting like some of the so called investors that take it ALL and dont HELP the distressed owner. Mike reinvestor42

Hey Bill,
I agree with you--I gotta say in my area I've seen/met so many other investors? that are worse than pigs. They're cut throat 2 faced liars and constantly take advantage due to their greed. I've helped out numerous ppl in foreclosures and eve paid for a uhaul and found them a place to live and ALWAYS put a couple thousand in their pocket........Because its the "RIGHT THING TO DO" dont be a pig or shark

Congratulations on joining the academy!! Great choice, they will supply you with everything you need to go out and take action!
What you said has been very true for me also. Its way easier to find buyers than it it to find a seller that has a REAL deal! You have to be out there searching all the lead sources you can think of! FSBOs, For rent signs, expired listings, bandit signs, craigs list, pre foreclosure, divorce, probate, lost job etc. etc.

I find my pre foreclosure leads from the county every week. Thats the best source.

Having my best luck with REOs right now. Need POF letters and the capability to close, Also must cover earnest money check when the offer is accepted. I use transactional funding to double close quickly if I wholesale the property. No LLC of this or that. Its just the way I do VOLUME! I understand this strategy may not work in certain states.

Michael Mangham
MD Home Acquisitions LLC

http://www.mdtfcam.com Transactional funds and POF letter site

When you said no LLC of this and that, do you mean when you do several REOs you never use and LLC?
Sandi

I purchase through my LLC, I do not create an LLC for each REO I acquire so that I can sell the LLC instead of doing a double close. Some people do this and that is fine. I have a transactional funding company that I use, its quick and easy. It does cost me 2%, but to me I would rather figure that cost into my deal and double close.
My post should have said "or" this or that not "of" this or that.

Michael Mangham
MD Home Acquisitions LLC

http://www.mdtfcam.com Transactional fund site

Thanks Michael!
seems like a probate court is a way to go for pre foreclosures I would think that dealing with REO's, one must have pretty hight confidence level to assign deal to an end buyer!! If you don't mind asking, how many cash buyers do you have on your buyers least? Also, i assume that banks negotiate REO much easier then foreclosures, since nobody wanted to byte on REO at a first place or simply didn't show up at the auction )!

Who wouldn't? First of all these people probably have no one they can confide in and probably feel they have no place to turn...then out of the blue a total stranger is knocking on their door offering a solution to their problem! Do you make sure there aren't any other liens on the property? Does this work on all pre-foreclosures?
Barbara

Korban,

I deal directly with homeowners in pre foreclosure. I get the leads from the s notice of default at the county.
When dealing with double closing REOs (they can't be assigned 99% of the time)you must have your buyer in place. I have several hundred buyers on my list. You only need 5 to 10 real buyers that are true cash buyers to make a ton of money. I would say that out of my hundreds of buyers on my list, 25 are real cash buyers. The rest have no money and no buyers themselves at this time. I keep in touch with them hoping they will take action some day. It is so funny when they try to get one of my properties under contract. I hope they learn from the experience!

Barbara,

First of all not all pre forclosures are good deals, in fact, very few are! Lots of short sales out there however. We go through a lot of pre foreclosure leads to find them with equity and then go through a lot of them to find some one that will allow us to purchase at a price that is profitable.
We don't waste time doing any research until we have the property under contract. The contract states they must delivery clear title and that our costs can't exceed the purchase price. If during the title search we find an undisclosed 2nd, 3rd, lien or judgment the seller is responsible and if they can't pay its a dead deal.

Michael Mangham
MD Home Acquisitions LLC

Congrats on a great deal! Like your ideas, and thanks for sharing the info of your strategies and answering everyones questions. Very informative! I'm sure we will be reading about lots more deals from you!

to follow your strategies. get the notice of defaults fr. the local newspapers, make phone calls, send postcards & doorknock. You gave everyone a big eye-opener in our RE investing. You are the MAN!
carmen

But I'm leaving to see my mom for a few weeks. Can I get your training material first and practice it. When I come back I can begin to do it? I'm new. I really need to do something to begin. Thank you for your great offer.

Michael!
thanks again for your effort and time!! Ha ha, i guess all those non cash buyers are trying to start something for themselves a little on a wrong side, have you tried to help them with funds, mortgages, sandwich leasing, 401k? There is a good reason why short sales are great, investors want them!
Looking forward to see you go nationwide and if its in your interest, be on your team
Artem

Hi there Michael I sent you a pm was just hopeing to get a follow up:) Hope to hear from you soon.

The rate you are progressing, in a short time you will be able to buy several house for all cash. I am so happy for you and really appreciate the knowledge you share with all of us. Congrats again. God Bless.

Sandra

Awesome job!!! I haven't been on the site for awhile but all is looking great. Keep it up!!!!!

Jeremy

Thanks for the input guys! I wholesale and rehab so my strategies apply to that segment of the market. There are so many ways to acquire properties that I have not tried or learned how to do! RE is great! Could not have done it without Dean's books and the academy!

I hope I have helped some people take action. What I do seems like a good way for people to start out. I like wholesaling and will continue to do that while I expand my business.

Thanks again everyone!
Michael Mangham
MD Home Acquisitions LLC