Most real estate investors overlook this little used method of gaining real estate leads. I'm talking about telemarketing! Finding real estate notes at a great price can be done this way.
If you can manage to get a note seller interested on the phone itself,and if he even sends you the copy of documents then you can consider almost 2/3 of those that are interested. Most real estate investors avoid telemarketing for fear of knowing what to say to a real estate note holder over the phone.
The truth is that telemarketing in real estate investing is just like telemarketing in any other type of business, as in it is a numbers game. So the more real estate note leads you call, the more likely you are to find someone who wants to cash out their real estate notes. Follow these four steps when making contacts on your purchased list of real estate note holders:
Create personal credibility with each real estate note holder. You have to do that the minute they get on the phone and the best way to do that is to be like everyone else. You have to find common ground with the person, whether it's in the way you say hello, or the way you talk about local areas. When an individual shows a liking to you, you may get a good deal on the real estate notes you want to find.
Studies have shown that people can tell whether you have a positive or negative attitude by the way that you come across on the telephone. So keep the phone atmosphere warm and friendly.
To begin, you send people information about how they can make money on their real estate notes. This kind of information is free for the asking if they have any interest.
Approach them as if you are only there to do a study of the market of note holders.
When you want to know about real estate notes through telemarketing, you will have to tell as to what you can do for the note holder. If you have been attentive and have understood then you can confidently go and close the deal. You just need to take an interest about why he needs some cash.
The most important part of finding real estate notes over the phone is not getting the prospect to sign a contract at this point, but to go look for the original note and mortgage and agree to either fax you a copy, see you, or mail you a copy.
Usually when note buyers can get a seller to locate the original contract, then they are more likely to close on the deal. Any person who is interested enough to look for a real estate note will be more interested than you think in selling that real estate note.