Approaching someone who just got a delinquency notice
First off, I would like to thank all of you for your help. This is the first post I have made, but I have been browsing these forums. There is a lot of good information on here.
My questions stem from the book I just read by Mr. Graziosi. It was ”Be A Real Estate Millionaire.” I was particularly intrigued by the part where he explained how he bought a piece of real estate from someone who had just received a notice of delinquency for a little over what they owed on it. Anyway, I was looking in the paper for foreclosures when I found a house that interested me.
I want to contact the owner but I am not sure how to go about it. The problem that I think will come up is my age. I am 23. I know that if I was in their shoes I would be like, “Who the heck does this kid think he is?” I also have no idea about how to go about finding out how much is owed on the house. Because of my age I don’t think I will be able to pose as a seasoned investor and mail them a post card stating that I help people in financial trouble.
The house is for sale. I contacted the realtor representing the house and found out that the house has been listed since February ’09 (almost a year) for $89,900.
I was thinking that I should just contact the realtor again with an offer that is well bellow the asking price and explain that I am aware of the looming foreclosure.
I am sorry for my long winded explanation. I am just a little nervous about putting together my first deal.
Thank you again for any advice in advance!
Mike
First off, I would like to thank all of you for your help. This is the first post I have made, but I have been browsing these forums. There is a lot of good information on here.
My questions stem from the book I just read by Mr. Graziosi. It was ”Be A Real Estate Millionaire.” I was particularly intrigued by the part where he explained how he bought a piece of real estate from someone who had just received a notice of delinquency for a little over what they owed on it. Anyway, I was looking in the paper for foreclosures when I found a house that interested me.
I want to contact the owner but I am not sure how to go about it. The problem that I think will come up is my age. I am 23. I know that if I was in their shoes I would be like, “Who the heck does this kid think he is?” I also have no idea about how to go about finding out how much is owed on the house. Because of my age I don’t think I will be able to pose as a seasoned investor and mail them a post card stating that I help people in financial trouble.
The house is for sale. I contacted the realtor representing the house and found out that the house has been listed since February ’09 (almost a year) for $89,900.
I was thinking that I should just contact the realtor again with an offer that is well bellow the asking price and explain that I am aware of the looming foreclosure.
I am sorry for my long winded explanation. I am just a little nervous about putting together my first deal.
Thank you again for any advice in advance!
Mike