ForeclosuresMass - ForeclosuresMass Monthly - Success Story - Husband and Wife Team Know it Pays to be Sincere when Making Deals (August 2004)

As a real estate broker and investor, Jeremy is always on the lookout for good investments for both himself and his customers.

Through weekly emails from ForeclosuresMass, Jeremy is notified of foreclosed properties listing up-to-date, accurate data. Not too long ago, Jeremy was notified of a foreclosed apartment complex that peaked his interest. This is what transpired:

"First, I went through all of the online data that was posted on the website concerning the property. After reviewing all of the information, I wrote a letter to the owner explaining that I might be able to help. I told her that I could work out a short sale. At this juncture, she was pretty desperate since she had exhausted all of her efforts to obtain financing from lenders and family members. There was no equity left in the property after paying attorney fees and interest and bank charges. The owner agreed to meet with me. I told her that I could help her through this without tainting her credit. She was really happy about that. I renegotiated the loan, and she agreed to deed the property back to me for $1.00. After one month of negotiating with the bank and another month sprucing up the property, my wife and partner, Sarah, and I put the property on the market for $20,000 below appraised value. We are hoping this will expedite the sale.

The timely information my wife and I received from ForeclosuresMass enabled us to get to the owner quickly thereby avoiding a potential messy situation. The one thing investors have to remember is that foreclosures can happen to anyone. If you walk into someone's home trying to make money off of someone else's misfortune, they will sense it and won't want to work with you. It's important to be sensitive to their feelings and let them know that you are sincere and really do want to help them. Yes, the owner knows that you are going to make money, but you need to treat them with respect and have their best interests at heart. Sometimes even the owner is able to make a little money.

At present, the apartment complex is on the market. We have had 2 offers and it looks like a third is on its way."

* Next 37 17 investors only!

Jeremy and Sarah Cyrier can be reached at:
The Cyrier Sales Team
RE/MAXR Destiny
907 Massachusetts Avenue
Cambridge, MA 02138
978-590-2090

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