Borrower Outreach
Scott Carson
Investor, Entrepreneur, Marketer and Podcast Host. I have a passion for helping people to grow their investments and influence.
On this episode, Scott discusses on this episode the current borrower outreach that WCN has been up to and some of the stories from their reinstatements.
We’re excited to have you today, lots of great stuff going on here in the WCN office. It’s our Friday episode. For today’s episode topic, Jen is carrying a big stack of paperwork. We started a little bit on Friday afternoon. Jen, what did you do Saturday afternoon?
Mailed out 71 letters to the borrowers in their homes.
Stuff we’ve listed recently closed in roughly the last 60 days. We closed on six in the end of May. We closed on 40 something in end of June and for July we closed another 23. In July, 20, because I think we’re more wrapped up for our third trade, so roughly 70 assets there. You guys did a great job of identifying these assets especially on the first big chunk of the 50. I was actually out of the office when that take came in that you guys looked at stuff. If you guys ever listened to our previous episode that we did on Funding Friday, one of the first three or four episodes, we talked about the break down process that we’ve looked into this list of contract for deeds that were sent over by a seller. We broke it down by a couple of things. Greg, what’s the first thing we looked at on that spreadsheet again for those that want a recap of it?
To see when the last payment was made.
As far as when? In the last five years, three years?
It was really six month but if it was within a year, we went ahead and kept it in the running.
If we looked at it, it narrowed the list of 400 down to 100. Then, you and Nicole looked at a lot of properties online. If it was ugly, we got rid of it. If it looked pretty decent, we kept it in the running. Then we submitted offers. Then we ended up getting how many approved back originally on that first hundred? About 60, if I remembered correctly, right?
Not approved right off the bat, we got counters. 40 got killed off immediately. We got back on 60. We reviewed more and dug into you and then countered back.
Listen to the full podcast episode here: https://weclosenotes.com/ep-158-borrower-outreach/