Many people claim to have the "secret" to buying and making money making in the foreclosure market.
With the many different strategies for successfully buying and selling foreclosed properties, each investor will find their own "secret" to making money in real estate.
People skills are the number one "secret" to negotiating the purchase of a foreclosure.
In reality, people skills often overlooked are skills that are critical to building a relationship with the homeowner.
Handling homeowners that are three to four months in default require a bit of special handling, usually distress, upset and looking for a way out.
These types of situations require a well-developed set of people skills.
No understanding all the options that are available to them, homeowners facing foreclosure are on the verge of losing their most valuable investments, so with this in mind, they are on the defensive thinking that everyone is out to get them.
Investors looking to buy a foreclosure and trying to help homeowners in distress need to be professional, sympathetic and offer a solution.
If you appear as anything other then trustworthy and professional, you are likely to get the cold shoulder and ask to leave them alone.
Foreclosure can be very profitable, being in tune too the homeowners needs, and building a trust right from the start is critical to your success.
Asking the right questions from the start will go a long ways in getting them to open up and talk to you.
People facing foreclosure are more then likely getting tons of phone calls, mail and correspondences.
Understanding their situation will help you in determining if the property has the potential to provide the profitability that you are looking.