Article #2 from Foreclosure Articles
by David Whisnant Editor, Real Estate Investor, and Attorney

Foreclosures:

Thinking Outside Of The Box And Buying More Foreclosures


Many of my competitors are amazed when they find out how I have been beating them to the punch buying and selling foreclosures.

They can’t believe some of the off the wall stuff that I have done to make the difference in landing foreclosures.

I want you to learn to use the same type of unexpected ideas. I want to make your foreclosure investing business seem very different to your sellers. Finally, I want sellers to do business with you, even if you are offering slightly less money than your foreclosure competition. These goals are all possible with the right foreclosure training.

The key thing in any real estate transaction, and especially foreclosures, is to see the deal from your seller’s eyes.

Years ago when I first started buying foreclosures, I made an offer that was typical of what most real estate foreclosure courses might urge you to do. The man had an older Cadillac in his garage that was in really nice shape. I am kind of a Caddy fan, so I made an offer like this:

1. I’ll stop the foreclosure

2. I’ll assume your loan

3. I’ll give you $10,000 cash at closing

4. You’ll give me your Cadillac title at closing

The man honestly seemed fine with all of this, but the Cadillac thing set him off.

“How am I going to leave the [expletive deleted!] house if I don’t have a car?”

Things went downhill, and I lost that foreclosure to another investor who was not after his equity AND his car.

What I learned is that to buy foreclosures, you have to look at things through the seller’s eyes.

Some months later, after completing one of my early

Foreclosures |  Page 2

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