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Jeff:
Yeah, it makes a lot of sense. So, let me ask you this. You talked
earlier about some of the ways you communicate with people. How
are you different than other investors in your area?
Bill Twiffer:
Well, I'm a lot different than other investors, because I come from
a basis of selflessness. What I mean by that is, to me it's all
about the homeowner. It's all about what can I do for them? How
can I serve them to help them out of their situation? If you start
putting the homeowner first, you’ll find out that you will
have so much business that will just show up because of what you
do. Word travels fast that you're out there to help people. You
start getting letters of recommendation from homeowners that you’ve
helped out. You start using those with other homeowners when you
start talking to them.
See most people in my situation, it's all about, “How much am I going to make on this deal?” And “How soon can I get the homeowner out of the house so I can close this deal and make my cash?” That’s okay to be like that, but what happens is when you start putting the homeowners first, you’ll find out that the business will come rolling to you effortlessly.
Jeff:
Okay. That makes a lot of sense. So, Bill, you do large port sales?
Bill Twiffer:
Yes, we do. I've probably done 350 of them, so far.
Jeff:
Is that the main primary source of the deals that you do? Short
sales?
Bill Twiffer:
It has been the last four years. I learned short sales from Dwaine.
Jeff:
Okay. So, when you're dealing with banks, what’s the correct
way to talk to banks when you're negotiating a short sale?
Bill Twiffer:
Well, when you're talking to a bank, see the thing is with banks,
the situation with banks, is banks don’t want to train people
how to do short sales. The typical loss mitigation rep has 3 to
5 hundred files on their desk at any time. They don’t have
time to deal with somebody that says, “Do you do short sales?”
That’s like driving up to MacDonald’s and saying, “Do
you sell hamburgers?” So, you know they do. That’s their
job at a bank. Their job in loss mitigation is to mitigate the losses.
They do short sales. So , we don’t call up and say, “Do
you do short sales?” Because that’s a red flag right
off the bat. What we do is we call up and say, “Hi, my name
is Bill. I'm a local real estate investor. I do short sales for
a living. I've got a short sale package put together for you on
123 Elm Street. Where do I need to fax this to get this approved
and get this off your desk?” Now, it sounds like I've done
this before. People in loss mitigation want to work with people
that they can - that they know are going to close deals and get
some of these files off their desk.
Jeff:
That makes a lot of sense. So what is the best way to approach a
homeowner, then?
Bill Twiffer:
The best way to approach a homeowner is homeowner first. “Hi,
my name is, Bill. I was at the courthouse the other day. I noticed
your lender had publicly posted your home for sale. I specialize
in helping folks like you solve their problems, and I was wondering
what can I do to help?” See it's all about what I can do to
help. “What can I do to help you out of your situation?”
There’s a lot of investors out there that have been in foreclosure
before. They can go up and say, “Listen, I've been in your
position before. I know exactly what you're going through.”
That is such a plus for some investors. They have no idea how big
of a plus that is for them.
Jeff:
Okay. So what are you basic form of investing, Bill?
Bill Twiffer:
My basic form of investing is single-family residents, multi units,
that kind of stuff. We do short sales and wholesaling is basically
what we do.
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