When I met with the homeowner, I kindly asked if I could record the conversation for training purposes, and she said it would be fine.
The meeting took place at the Starbucks about 2 minutes from my home. We sat outside (as you’ll see) and the meeting took 47 minutes (we talked about other than the short sale for a short while). You’ll find that your meetings with homeowners will last anywhere between 15 minutes and 2 hours, depending on the number of questions that you get and how well you prepared the homeowner ahead of time. Some homeowners just want to sign the paperwork and be done, others want to read everything. Either way, it’s fine… but I prefer the quick ones!
A few things you’ll notice.
- I use Land Trusts (I DO NOT take the deed to this house. It’s not necessary. You should not do it. That is the “old” way of thinking and can get you in trouble in today’s market. Yes, you can use Land Trusts without taking the deed.)
- I AM NOT all business in this meeting. You should walk away from these meeting feeling almost as though you just made a friend. Remember, you are helping these homeowners out of a terrible situation. You should be appreciated for what you do. Listen to how I communicate with her.
- I put the weight of the deal on the back of the bank. If the deal doesn’t work out, it’s the bank’s fault, not yours. Prep the homeowner for the fact that it might not work. NO PROMISES.
- Do not make promises. All you can say is that you will do your best, that should be your only promise.
Please leave me a comment. (upper right portion of this blog post). Thanks!
Enjoy the audio, and I’ll be in touch soon with the next update!
Marty Schulting
Top Foreclosure Training
Accelerated Loan Mods
Co-Founder and Coach
{ 3 comments… read them below or add one }
Please leave a comment. Thanks!
- Marty
Hi Marty,
This jeri in Lanham Maryland. Thanks for sharing this tape with us. I am new at this. I want to learn from the best. I want to help some people that want to get out of their home that has these adjustable loanes. I want to get to do this and learn real estate investing without having to spend money that I don’t have. If I can learn to do this starting @$1.00 let me know. Will I have a coach? I am wanting to find someone that can teach me without having to spend lots of money to learn. Please e-mail me. You may also give me a call 301-577-4092
Thanks,
Jeri
Hey Marty -
Thanks for sharing that information. I just wanted to clarify which type of loan the seller had on her property. I know that it was mentioned that her loan was FHA but also I thought it was mentioned that she had a teaser loan when she originally purchased in 2002 and that the lrate had been adjusting every year since the purchase. Thanks again