Question:
Can you elaborate on getting leads from “referrals from guys at Trustee’s Sale” on 119 of the course book? Thanks
-Student
Answer:
Lovely, yes! You got a bunch of guys out there buying at the trust deed sales. The more remote your area is, the better they love to do this. If you’re in some area, they want to know they got a sure thing to sell something. Sometimes they have what’s called “drop bids.” Where they find out that morning that some property that was going to sell for $195,000 has now been dropped bid down to $100,000 or $110,000, whatever it is. They want to be able to get on the phone, be able to call you and say “Hey, Tony, now I got a house on Lancaster West now here’s the address. Go check it out. They just told me I got 15 minutes.” And I’m telling you, I am not exaggerating some of these are like 15 minute deals. But I can go there, knock on the door, see if the property is vacant, see if there’s a person living inside, and find out quickly. I try to find out if it’s the owner or not. And there’s little ways you can use to get your foot in the door. If it’s worth buying or not buying, I’ll tell them on the spot. I have Sabrina doing the comps, immediately, and I say “okay, here’s what I’ll give you. I’ll give you $65,000 max.” So now, he knows what he’s got to add to that so he can get that to the price I’m willing to pay. And trust me; I just had another meeting with two guys in my market that do this. And over the course of time, I don’t work with a lot of different people doing anything. I’m very specific about who I use. But I use people that are very good at what they do and people that I can trust. That’s the whole thing for me is trust. If I can get some money where I can rely on them and I can trust their word, I’m in!