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Approaching the Property Owner

How you initially contact property owners and their first impression of you can directly relate to how successful you are as an investor. It's often easy to offend or turn off a property owner facing financial devastation.

Consider the story of one owner that was approached by a real-estate investor. When the investor arrived at the property, he pulled up in his car with plastic signs stuck on the doors that read “I Buy Houses.” The property owner, overly embarrassed by the sight of the car parked in front of his house, immediately dismissed the investor.

You are likely to proclaim that you only want to help the property owner. Of course, this is not true. What you really want to do is earn a profit from purchasing the property. Your attitude should be that you hope your purchase of the real estate helps the current property owner solve his current crushing financial situation.

Don't hide the fact that you are a real-estate investor and that your purpose is to make a reasonable profit on any transaction. An honest approach will usually always work best with a distressed property owner.

Consider your appearance when you meet with the owner. Don't project the stereotypical used-car salesperson look so prevalent in cheap Hollywood movies. Fast talking and gaudy dress is not going to impress the beleaguered homeowner. Choose a business casual look. Don't try to appear as if you are flaunting wealth or accomplishment. Present a clean, successful look. Don't overdo it with flashy jewelry or expensive clothing. Don't drive to meet the homeowner in a glitzy sports car or luxury vehicle.

By the same token, don't present an appearance that you cannot afford to buy the property. Driving up to the property in a $500 clunker wearing threadbare clothing is not going to project your ability to purchase real estate as an investor.

  1. Home
  2. Buying Foreclosures
  3. Pre-foreclosures
  4. Approaching the Property Owner
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