Do you know they invest your money in FORECLOSURES!?!
Here’s an excerpt from my 2004 course, 37 Ways to Bulletproof Every Foreclosure Deal.
Deny, Decry, Vilify
It’s as Easy as 1, 2, 3!
I’m going to let you in on a little secret here . . .
I can “unwind” any foreclosure deal you’ve ever done, cause you more grief and legal headaches than you can possibly imagine and all the while drain your pocket of every last nickel you earned on any particular deal, and I can do it all in just three little steps.
Even scarier . . . so can your seller.
How’s it done?
Easier than you can imagine, as long as someone’s willing to lie.
And lie they do. I call this the “deny” step and it starts whenever we hear things from sellers like this . . .
“I didn’t understand what I signed!”
“That’s not even my signature!”
“You never told me I’d be losing my house to you!”
“You didn’t even give me copies of my paperwork!”
They simply deny everything and suddenly this deal gets a bit complicated. When we hear these kinds of things coming from the seller’s camp, we circle the wagons and get ready for the assault we know is about to take place.
Before going further, let me ask you something . . . any of this sound familiar to you?
We’re going to talk a lot about these kinds of things in this course, so much so that you’ll be sick and tired of all the war stories detailing all the problems I’ve faced.
But I’m determined to tell them anyway because I want you to understand just how frustrating dealing with these issues can be.
By whacking you over the head with more than I should, I suspect you’ll quickly realize these things must be addressed in your foreclosure investing business.
Trust me . . . if you think reading about a screwball seller trying to get his property back from you is difficult, wait until you experience one first hand.
So, get it through your head . . . sellers lie.
When convenient or when there’s lots of money involved, money that looks a lot like theirs because until just recently, it probably was, sellers will not hesitate to do or say whatever they feel they need to in order to keep you from walking away with all that dough.
Saying something like “that’s not even my signature,” when you know it is because you were actually present in the room when the seller signed the darn thing isn’t something out of the ordinary at all.
In fact, I had this very thing happen to me not more than a few months ago, and the seller was under oath at the time!
Deny everything . . . that’s step one in the process of unwinding a sale. What’s step two?
And it works like this – just start pointing fingers . . .
“You lied to me!”
“You told me it was a loan!”
“You pulled a fast one on me and you know it!”
Okay, so we move beyond denial and start hearing all kinds of ridiculous claims about what actually took place.
Yes, the seller is determined to paint himself in the role of a true victim and doing so is relatively easy . . . he just starts pointing his finger and interestingly enough, he seems to be pointing at you.
That ain’t good.
Step two, then, is decrying all the things that make the seller out to be the person victimized by the sophisticated and heartless investor . . . YOU!
And step three?
From here on out, it’s easy. The groundwork is in place and moving on to the vilification process is a small jump to make . . .
“You’re a thief!”
“You’re a cheat!”
“You’re a con man!”
And just like that, you’ve got a problem.
Now, what that seller does next is obvious . . . he runs down to the legal aid people and his free attorney decides he needs a new mission in life and lucky you, you’re it.
A few days later there’s a late night knock on your door and the summons and complaint you’re handed includes the following misadventures you’re now accused of participating in . . .
Consumer protection violation
And the list just goes on and on.
Eventually, you’ll settle. The legal aid guy knows this and that’s why he’s decided to toss in everything he can possibly think of to get your stomach into churn mode.
And do you know what? You do settle. Even though it irks you to no end, you quickly realize after just one visit to your attorney’s office the cost of litigating this thing will eat away at your profits so fast that once the dust settles, you’ll be in the hole.
Deny, decry, and vilify. It’s as easy as 1, 2, 3, and if you’re unaware of this sort of thing and are actively pursuing big equity foreclosure deals, friend, we need to talk.
And by the way . . . you’ve got some work to do.
So Rob, does any of this sound familiar?
Of course it does.
Here we are today with your office contacting people with whom we’ve done business and telling them, in not so many words, “you’ve been scammed.”
What happens next is nearly word-for-word what I described in my bulletproofing course, and your office is inciting every bit of it.
I’ve even heard stories of sellers saying your investigator Renee Shadel told them they don’t need to honor their agreements with us and can simply walk away from their obligations because we’re bad guys.
And by the way, having her, or someone like her, telling my private lenders, “Do you know they invest your money in FORECLOSURES!?!,” as if it were something akin to drug-dealing, is a really bad idea.
But that’s the job of your office, apparently.