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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: A deal a month is all you need... Posted by Craig Triance on January 28, 2004 at 8:37 AM In Reply to: Re: A deal a month is all you need... posted by Steve-CA on January 27, 2004 at 0:23 AM : I was wondering if others might also share their success ratios. If I could get a deal every 20 doors I'd be ecstatic. : I'm finding I need to knock on about 200 doors to close a deal. : Reasons include: : - Can never catch the homeowner at home; leave calling card and try to follow up again 3 weeks later : - Owner not ready to make decision; will need to drop by and check back in 3-4 more times : - After meeting with them and evaluating the condition of the property, there might not be sufficient equity to make it worth my while (or I find out about surprise liens, judgements) : - Homeowner solves their problem (somehow comes into some money) : - Homeowner refinances (delaying the foreclosure for 4-6 months unless they've turned their finances around) : - Another investor beats me in getting them under contract : - I get to present an offer but another investor presents a better offer : - Homeowner adamant on staying despite not having a plan, most likely goes to Trustee Sale : I have never had a deal close on the first meeting. I find it's more of a relationship thing. After the default notice, homeowners have 3+ months to correct their situation, so it's a lot of waiting and revisiting and gaining mind share. : I start contacting homeowners once the notice of default is published, when the trustee sale notice comes out I try to get in front of them again but the competition really increases : I'd consider myself a pretty good closer; I do this full time and close about a deal about every 4-6 weeks. I try to talk to 50 homeowners a week, some new, some revisits, so 4-6 weeks equals about 200 doors. : Of course I'm open to suggestions as to how to improve my ratio! : - Steve : : : Ward, : : : Thanks for answering my questions on the post. I just want to know something. : : : Everyday I look in the L.A. Times I see 8-12 i buy houses ads. Is there another way of ad's. I want to get mentored and invest in foreclosure but the Market in Los Angeles just seems to be so hot. Ward. What are the odds of me door knocking(Preforeclosure) on 1 persons home per day. Do you think I culd out the odds in my favor more and could I possibly do a dealm in 60 days If I knock on a door a day. : : ============== : : Rudy, : : You really don't need to mess with any kind of ads, letters, flyers, etc. when buying from an owner before the sale. Once you're trained all you do is knock on the defaulting owners' doors. If you know what you're doing and have a consistent work ethic you'll knock on about 20 doors to get a deal. That will get you about a deal a month, at minimum. : : Hope this helps. My partner and I have been door knocking since Xmas. We try to hit about 20 doors a week and have limited success. In Southern California, the 200/1 ratio described by Steve seems about right. You may want to try knocking at different times during the day. I have been astounded by the number of people home during the middle of the day. Any input from anyone on the best time to door knock. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I was wondering if others might also share their success ratios. If I could get a deal every 20 doors I'd be ecstatic. : : I'm finding I need to knock on about 200 doors to close a deal. : : Reasons include: : : - Can never catch the homeowner at home; leave calling card and try to follow up again 3 weeks later : : - Owner not ready to make decision; will need to drop by and check back in 3-4 more times : : - After meeting with them and evaluating the condition of the property, there might not be sufficient equity to make it worth my while (or I find out about surprise liens, judgements) : : - Homeowner solves their problem (somehow comes into some money) : : - Homeowner refinances (delaying the foreclosure for 4-6 months unless they've turned their finances around) : : - Another investor beats me in getting them under contract : : - I get to present an offer but another investor presents a better offer : : - Homeowner adamant on staying despite not having a plan, most likely goes to Trustee Sale : : I have never had a deal close on the first meeting. I find it's more of a relationship thing. After the default notice, homeowners have 3+ months to correct their situation, so it's a lot of waiting and revisiting and gaining mind share. : : I start contacting homeowners once the notice of default is published, when the trustee sale notice comes out I try to get in front of them again but the competition really increases : : I'd consider myself a pretty good closer; I do this full time and close about a deal about every 4-6 weeks. I try to talk to 50 homeowners a week, some new, some revisits, so 4-6 weeks equals about 200 doors. : : Of course I'm open to suggestions as to how to improve my ratio! : : - Steve : : : : : Ward, : : : : Thanks for answering my questions on the post. I just want to know something. : : : : Everyday I look in the L.A. Times I see 8-12 i buy houses ads. Is there another way of ad's. I want to get mentored and invest in foreclosure but the Market in Los Angeles just seems to be so hot. Ward. What are the odds of me door knocking(Preforeclosure) on 1 persons home per day. Do you think I culd out the odds in my favor more and could I possibly do a dealm in 60 days If I knock on a door a day. : : : ============== : : : Rudy, : : : You really don't need to mess with any kind of ads, letters, flyers, etc. when buying from an owner before the sale. Once you're trained all you do is knock on the defaulting owners' doors. If you know what you're doing and have a consistent work ethic you'll knock on about 20 doors to get a deal. That will get you about a deal a month, at minimum. : : : Hope this helps. : : My partner and I have been door knocking since Xmas. We try to hit about 20 doors a week and have limited success. In Southern California, the 200/1 ratio described by Steve seems about right. You may want to try knocking at different times during the day. I have been astounded by the number of people home during the middle of the day. Any input from anyone on the best time to door knock. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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