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Show Summary
In this conversation, John shares his journey of helping clients facing pre-foreclosure, emphasizing the importance of compassion and understanding in his work. He discusses the growth of his business, the formation of a dedicated team, and the emotional impact of their services on clients. John also highlights his future goals of expanding their reach across the United States and the significance of building relationships in the industry.
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Investor Fuel Show Transcript:
John Dorame (00:00)
like I said, I had seven days to present myself in court and pay this or they were going to have to sell my house. And this house, we’ve been here 53 years, my parents’ house, I inherited it. So, you know, I wasn’t going to lose it. So I did what I had to do.I showed up to court with two checks of 40,000 a piece to pay off my brother and sister. They saw my house was paid off and they were wondering how I acquired the money. So, you know, I let them know how I did it and now I’m doing it now with my clients. You know, now I’m saving people from losing their homes. ⁓ There’s ways, there’s a lot of options. There’s, you know, giving them another opportunity to stay in their homes.
Quentin (02:14)
Hello everyone. Welcome to the Real Estate Pros podcast. I am your host, Q Edmonds. Super excited today. I have someone here who is a pre foreclosure specialist. I love that about him. It tells me about his heart, the way he want to help people out when they’re in a tough situation. And so I’m excited for us to be able to get things from his lens through his vantage point. And so listen, y’all know I like to respect on people’s name, but I cannot roll my syllables.the way this gentleman rolls his syllables. So I’m gonna call him Mr. John. And if he wants to tell y’all his last name, I’m gonna let him do it. But man, welcome Mr. John. How you doing today,
John Dorame (02:42)
Thank you, thankyou. Doing good, all about yourselves.
Quentin (02:52)
man, man, man, I’m doing great, man. I’m doing great. ⁓ Excited to have you here. And I’ll be honest, I want to dive in. I want you to take us into your world. I want you to tell us the different things that you are focused on lately. I want you to tell us maybe a little bit about how you got started, what market you’re in. And if you want to bless us with that beautiful last name, man, you can do that as well. But the floor is yours, man.John Dorame (02:56)
Thank you.Well, we’re called the Dorame team. And basically we’re based here out of Tucson, Arizona. I was going through the same process of my house being foreclosed by my brother. So we found out days before my house was going to be foreclosed and throughout the time, 2021 till 2020.
The beginning of 23, I just studied, you know, I just studied the pre foreclosure, how to get out of it, how to, you know, proceed with it.
So, ⁓ like I said, I had seven days to present myself in court and pay this or they were going to have to sell my house. And this house, we’ve been here 53 years, my parents’ house, I inherited it. So, you know, I wasn’t going to lose it. So I did what I had to do.
I showed up to court with two checks of 40,000 a piece to pay off my brother and sister. They saw my house was paid off and they were wondering how I acquired the money. So, you know, I let them know how I did it and now I’m doing it now with my clients. You know, now I’m saving people from losing their homes. ⁓ There’s ways, there’s a lot of options. There’s, you know, giving them another opportunity to stay in their homes.
Quentin (05:18)
Man, I absolutely love and I believe that most of our passions come from our pain, right? We find purpose in different things that we’ve gone through. And so what I love, because you can talk to the person because you’ve been there. And so this is more than just seeing them as a transaction. You’re like, no, I see you as a person. I know the worry that you have. I know maybe the sleepless nights. I know the fears that you’re facing. And so…John Dorame (05:24)
Yes. Yes.Quentin (05:45)
I love that man and I told you backstage and I’m telling you now, I love that you’re in this space really, really helping people that kind of really needed the most. And so I know it’s not always easy. No, go ahead, man. Please, please go ahead, John.John Dorame (05:52)
Yeah. We got…No,
no, we just and I’m glad you’re saying that in that point because what we do is we don’t want their house. We don’t want to force them to sell. You know, we got these other the people they call them vultures. And basically these people go out, they knock on doors. ⁓ you know, we want to buy your house for this amount of money. And it’s basically almost the same concept of what we do. But the difference is, that they keep their home.
You know, so these people, ⁓ you know, they everybody falls in this predicament where, know, you can’t pay the bills. Everything goes into collection. We try to hide ourselves in the house and, you know, try to avoid having to pay. But, you know, we we got to move forward and, you know, helping these people, showing them that there is opportunities. There’s different ways. There’s different.
strategies of how to go about pre-foreclosure. These people come in and, oh, what’s like example property value, 255. They owe one, say, 90,000. These people come in, oh, well, we’re going to pay the 90,000 and we can give you 20.
John Dorame (07:09)
So when we go to them, they think we’re the same kind of scam. We’re gonna try to rip them off. But once they see the process, when they get out of it, they’re like, my God, you just made my life so easier. Thank you. ⁓ There’s times that we go knocking on door and lady was sitting on her bed praying for help. And one of my employees went knocking on her door and.You know, her daughter answered the door and she said, no, my mom’s not here, but the mom was hearing the whole conversation. So she goes, you know what? And she told us, she goes, I would love to use her as one of our commercials here soon. But she came out and she says, it’s this what I heard is like a miracle that God answered my prayers right now. And this is a lady that’s fighting colon cancer. She’s, you know, went through the surgery and she went to surgery feeling so great, like, you know,
Relief, no, on her mind, nothing on her chest. Everything went very well for her. She’s out of it now and she’s living her life and now she’s drawn this, drawn that and the Dora Mi team helped out. I love it and that’s what we’re here for. We’re here to help people, not screw them over.
Quentin (08:22)
man, opened up when I asked you this question, you opened up with a powerful statement. You said, listen, we don’t want your house. I am not. want you to stay in your house. This is not about me wanting your house. And I mean, I mean, that that right there is just a powerful demonstrative statement in itself, man. And so I love what you guys are doing, And so listen, we can’t make all of our listeners sign a confidentiality clause, right?John Dorame (08:34)
Yes.Yes. Yes.
Quentin (08:50)
So don’t give away all the secrets of your sauce, but what has been your key, man, your system, your key to keeping things running smoothly?John Dorame (09:32)
Um, do your due diligence. Um, make sure that you’re looking up to property, make sure that, you know, if you have resources to look, uh, do a prelim, you know, check the title, make sure there’s no judgments against it. No, you know, this person’s got so much collection. Then when you’re trying to help them, um, you know, they’re, they’re at like 55 % equity. Then all of a sudden with all the judgments, the collections and everything,⁓ It adds up. It adds up and they’re way below the equity. So at that point in time, we’re still helping them out. ⁓ Those are impossible to help. No investor would want to take those. So we guide them. We also have attorneys for bankruptcy ⁓ that’ll help them guide them through bankruptcy. And they’re very, very reasonable. ⁓
Not only that, but, you know, help them fix their credit, you know, get their credit back on point, help eliminate a lot of derogatory collections, inquiries. We helped them get all that, get them back up. We’ve had just February, just February, we met this client. She was at a 375 credit score. She was in pre-foreclosure.
She was way off. There was no investor that would take her. So we helped her through the bankruptcy. She got bankrupt.
John Dorame (10:58)
From February to now, she’s right now at a 715 credit score. She’s out of pre foreclosure. She has to make her payments for the next, I wanna say she’s got probably a year and a half. They did a pre-penalty thing. after that, she wants to come on board. She wants to help people as well now and she’s happy.She’s happy one way or another we’re gonna help that customer.
Quentin (11:23)
Yeah.Yeah. Now, wait a minute. I want to make sure I’m hearing this correctly. You helped her. You brought up her score from the 300s to the 700s. Helped her. And if I heard you say, now she want to come on board. So are you thinking about partnering up, giving her a job? Is this what I’m hearing?
John Dorame (11:42)
She wants to come on board. She wants to start going out, helping people. She says that, I don’t know, it’s just, I have right now, I have a total of 11 and I just started this in November of last year and my employees get paid very well. Let’s put it this way. They’re very happy. They’re passionate about what they do. They love, you know,Quentin (12:00)
Yeah. Yeah.Hmm.
John Dorame (12:07)
going to the person’s house and there’s just so much stories that we hear. It’s like unbelievable. There’s times, you know, we come out of there in tears and it’s something that we got to start staying strong. Like my team, ⁓We follow like a guideline where, you know, it’s about the client, not about us. We let them talk, we let them vent, we’ll hear them out. ⁓ You know, there’s times that we signed this contract and, you know, it takes about five to 14 days to get them out of the P4 closure, close them out, get them funded. And ⁓ in those 14 days, you know, these people are like, it’s unbelievable, but
You know, they try so much ways to get out of pre foreclosure, like trying to do conventional loan. And a lot of these people, the way I see it is they’re already trained when they come to us because they’ve tried so much with these conventional loans or these people. you know, they think, well, no, they said they’re going to help me. And, you know, once it gets to underwriter, when it’s a conventional loan, they see, it’s in pre foreclosure. They pull out. They can’t help no more.
Quentin (12:58)
Yeah.John Dorame (13:17)
So it has to go through, you know, investors has to go through by a hard money basically. And, you know, a lot of hard money investors, they’re all shooting for that 11, 12%. I have investors still that were willing to help customers. We get them in the seven, 8%. And, you know, we’ll get them fixed 30 year fixed low payments. You know, there’s some thatthat we go to and I’ve acquired a lot of my properties like this as well too is we’ll go there and ⁓ they’ll like 250 equity, ⁓ they owe 90 and they just want 20,000 on top and we can have the property. So stuff like that, it’s easy. I can get those funded with no money down.
It’s a win-win for all.
Quentin (14:52)
Yeah, man, I love it, man. John, I am loving what you’re doing. I’m loving the way you serve your clients. You creating opportunities, man. You’re changing lives. You’re changing legacies, And so, man, I’m so, so just excited about what you’re doing, man.John Dorame (15:04)
I’m a great boy. You just don’t have a last name.Okay. Yes. No, no. mean, it was a rough two years. And I can relate to these people that when we see them, we see these people, you know, they’re stressed. They haven’t slept at night. They’re worried they’re going to lose their house. Where are they going to go? ⁓ You know, these people been there for 15, 20 years and they’re accustomed to that home.
Quentin (15:08)
Absolutely. You good? I love it, man.John Dorame (15:34)
They have that home the way they want it. And that’s what I want to see is them keep their home the way it is and keep moving on helping them.Quentin (15:34)
Yeah, yeah.Yeah. Well, man, that’s in your DNA. It’s weaved in you. You had your home for 50 years. Your parents passed it down. You was going to fight like hell to make sure nobody didn’t lose yours. And it sounds like you’re fighting like hell to make sure people don’t lose theirs. So I love it, man. I want to ask you this, though, John. What are you most focused on solving next? What’s the next real goal for you?
John Dorame (16:00)
My next goal is to complete right now we’re doing New York, Florida, Arizona, California and Texas. We’re now able to do all states in the United States. We’re able to help them all get out of pre foreclosure, help them guide them. ⁓ Just I ⁓ don’t know, I think that picked something good that’s gonna work and help a lot of people.Quentin (16:13)
watching.John Dorame (16:27)
Lots of people, they’ll be able to stay in their homes. They’ll be able to focus on other things besides losing their homes.Quentin (16:28)
Yeah. Yeah.Yeah, yeah. Man, having you and your system and your people and your team in every state, man, that’s going to be a blessing to just so many different people. So I hear you, man. I hear you loud and clear. And that’s what I love from what I’m hearing about you. You focus on people. You’re focused on building relationships. And so let me ask you this. When it comes to building relationships and growing your network, what’s made the biggest difference for you?
John Dorame (16:46)
Yes.Yes.
Biggest differences.
You know, a lot of people are now starting to recognize that we’re the people that help. We’re the people that are not there to go, you know, force them out of their house. You know, there’s been people that we, we go and this person that kind of does almost the same as us, but this person does take their property. So this person had a week to sell that property. This person had signed them up for, you know, got them out of pre-foreclosure. ⁓
helped them but didn’t explain that there was this issue that in six months you have to sell your house. So they were like, what do we do now? And still we were able to save them from that as well, get them out of that. And ⁓ that investor didn’t like it, but we’re here to help not screw people over. And that’s our thing is, we’re a transparent company, we’re ⁓ straightforward.
We’re not going to go in there and, you know, BS them, tell them, yeah, you know, we’re going to buy your house. ⁓ We’re going to take your house or, you know, you’re going to lose your house and I’m going to buy it at auction anyways. You that’s things that they don’t want to hear that, you know, they’re already in a stage of mind that, know, like who else is coming after me? What’s going to get me, you know, sleepless nights fighting, you know, with the spouse if they’re married, some even divorced because they can’t take the pressure, you know, and.
You know, that’s that’s one thing that we are leaning forward so that we can start saving stuff like that, you know, ⁓ getting them out of those predictor and helping them with the little funding into their own bank account and knowing that, God, we got money out and we’re still keeping our house. You know, some people, ⁓ an elderly lady that’s been living there, grandkids were taking advantage of her. ⁓
They weren’t paying the mortgage, so she went into a pre-foreclosure. She had a lot of equity. We were able to help her, give her an additional $20,000 on top. And she literally called me from San Diego saying, John, I’ve never been to the beach. This is my first time to the beach because of you. And it’ll bring tears. A lot of stuff will bring tears.
Quentin (19:17)
Man, man, I’m listening to you, man. Yeah.John Dorame (19:18)
Yeah, it’s hard. Everything, everythingis touch, it’s hard touching. ⁓ We listen to them. We know what they’re going through, you know, from previous experiences and past. What I went through, you know, I know what they’re going through.
Quentin (19:34)
No, man, I hear you loud and clear. I hear your through line, helping people, really helping people and still being connected with people even after the deal is done. Got people calling back and saying, thank you, John. You got people wanting to join your team. Man, I’m just overjoyed about how you’re doing things, the way you’re doing things. And it was just such a pleasure, man, to have you on. John, listen, before we wrap, man, if someone wanted to reach out to you.John Dorame (19:56)
Yes.Quentin (20:01)
connect with you, maybe collaborate with you. Tell them how they can do that. Tell them what you got going on. How can they get in connection with you,John Dorame (20:08)
They can get old of me. They can email me at the I can. ⁓ you guys can see that there.Quentin (20:15)
There you go, yep.Beautiful.
John Dorame (20:17)
So they can get a hold of me through there or give me a phone call. I’m open to investors.Quentin (20:18)
Beautiful.Yeah. No, man, John, sir. And I appreciate you so much. appreciate your time. I appreciate your story. I appreciate, yeah, man, appreciate your perspective. We definitely need people in this space doing it the way you’re doing it, man. So thank you. Thank you so much. I’m so glad you’re on. I’m so glad people get to hear you that way we can help support what it is you’re doing. So again, thank you so much for being here,
John Dorame (20:29)
Thank you.No, thank you for having me. I appreciate it. you know, if anybody out there that’s interested in becoming, you know, part of the team, let me know.
Quentin (20:55)
Well, there you have it. There’s Mr. John, y’all. You heard the value. You heard the call. You heard the mission. You heard the passion. And so we’re going to continue to bring up people that’s valuable to this space, that gives value to the conversation that we’re having. So make sure you subscribe. You do not want to miss out on these amazing conversations. So again, thank you, Mr. John. And to everyone else, we will see you on the next time. Thank you, man.John Dorame (21:20)
Yeah, thank you.
