I'm not going to try to teach you everything about pre-foreclosure real estate investing in one article. It's not possible and despite having completed deals and helping others do the same I by no means know everything there is in the field of pre-foreclosure real estate investing. I'm just going to open your mind to win-win real estate investing strategies. Are you ready? If you're already doing pre-foreclosures, I'm going to remind you of something you intuitively know but may not have not consistently APPLIED- and that's the point, is it not? And if you haven't done any pre-foreclosure real estate investing before, I think you'll find this tip very useful and I'm glad you found it before doing your first deal. Tip: Approach pre-foreclosure real estate investing from a service mentality What do I mean by this? Picture yourself walking to the kitchen table with a homeowner who's in default on their mortgage. They're feeling lost. Overwhelmed. Confused. Scared. This is their HOME we're talking about- and they are in danger of losing it. The mortgage is unpaid. Likely other bills are unpaid. Letters and papers and legal notices are all piled up on the table....many times UNOPENED (believe it!). Adding to the stack are DOZENS of letters and postcards from other investors with all kinds of messages from "Sell your house today" to "Save your credit" to, in effect, "I want to steal your house!" It's just too MUCH! When we're confronted with crises situations (like being a homeowner in danger of foreclosure) sometimes we humans just turn off, shut down, and try to 'wish it away'. Heads stuck in the sand like an ostrich. Here's where win-win real estate investing strategies come into the picture. Because if you know what you're doing, have integrity and operate with honesty, with pre-foreclosure real estate investing, YOU can be the person to help a distressed seller find out their options- and YOU can profit from it. Look for what you can do FOR people, rather than TO them- BIG difference. Win-win real estate investing strategies requires that you strive to connect with sellers on a HUMAN level. It's the right thing to do, and besides you'll find you can negotiate a better deal when you build rapport and they like and trust you. Look to create win-win solutions or even better put yourself in the middle and create a win-win-win solution for the distressed seller, yourself, and an end buyer with problem credit. As a professional investor, you deserve to GET PAID for what you KNOW-- so some will disagree with me on this one-- but sometimes if you can solve a seller's problem with an option they didn't know about (and one you don't directly benefit from financially) where they can KEEP THE HOME....do it. Again, some will disagree but I come from an abundance mindset and a karmic understanding of good energy- and if you do too you can pass on money now, do a good deed by helping, and the universe will reward you later. I only wish there were more investors out there practicing pre-foreclosure real estate investing from this mentality of win-win real estate investing. Maybe you can help change that!
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