My primary prospect is a banker or an attorney specializing in bankruptcy, real estate and/or probate.  Divorce gets a little sticky.  Why these people? 

BANKERS - One bank loans to thousands of people.  Some of them will have problems and the bank will take the property back.  Here the bank would be the client.  Some will have problems and work with the bank to resolve them.  Here the bank would be a referral source.  There are ususally only 1-2 people that work with the problem loans at the smaller banks and the larger ones have entire departments.  Prospecting these people can be sources of multiple deals.

In 2005 I sold over 80 properties from one seller with one bank.  The price was negotiated on the first deal and never mentioned again.  Deals were done via email and fax.  We met a couple of times.

LAWYERS - One attorney has multiple partners who all have multiple clients.  As an added bonus, the lawyers that represent banks, represent multiple banks with multiple asset recovery departments.  Can anyone say cha-ching?

Here's the rub.

For the most part, these professionals are hard to get in with.  Vendors get one shot if they get one at all.  Everyone and their cousin is trying to do deals for them.  But there is a way.......Stay tuned dear readers.

Rich Kruse - rfk@gryphonusa.com