How to find and buy preforeclosed properties
How to find and buy preforeclosed properties
I often find more ways to find forclosed and preforeclosed properties than time allows for me to follow up on.
Here are just a few to get your juices flowing.
Be sure to check your local ordinaces because a technique that might be 100% OK in Marysville, California might be completely against the city rules in Detroit, Michigan.
1- Look in craigslist.org under foreclosure or preforeclosure keywords
2- Place small ads in local newspapers
3- Place small 3X5 at all local bulleting boards
4- Put some ground signs at all allowed locations and freeway exits
5- Signs on electrical posts or back/front of benches
6- Small ads in large national newspapers
7- Place Ads in free online classified boards
8- Read all the ads in your local papers
9- Networking and Word of Mouth
10- Small business card placed at strategic locations
11- A mailer to local bankruptcy lawyers
12- A mailer to local bookkeepers, accountants and CPAs
13- Talk to all your local banks and their REO foreclosure department
14- Speak to and netword with all local realtors
15- Contact local HUD foreclosure office and get their list
16- Local public listing of notice of defaults
17- Sign on your car advertingin your services
Like I said, this is just a tip of the iceberg and honestly, one person alone will not have enough time in the day to follow up on all these methods.
And if you were to go all out and hire some foreclosure specialists or assistants, then you'll probably not be able to handle the volume of homes in preforeclosure that'll land on your desk.
Start with a small area in your city and expand your efforts as money and time allow.
The larger the radius you cover, the more properties you'll find which will require more time and money from you.
This is not hard. It's hard work!!
Put in the effort and reap the rewards.
Once you implement some of these strategies, you'll find one, two or three methods that will generate majority of your foreclosure investment portfolio. Then only focus on those till you exhaust the well.
My best source and the biggest foreclosed property portfolio came from one person, working in the bank and in charge of their forclosed properties. She told me that I was the only person who approached her for their listings. And for years, I received all the data, analyzed and evaluated them and made offers to the bank.
Most of them were accepted and I never had to pursure other methods as outlined above. And you'll discover your niche as well.
Happy investing.
Visit House Foreclosure and Investing Blog to read Forclosure Experts discuss Foreclosure Investing and Strategies on a daily basis.
I often find more ways to find forclosed and preforeclosed properties than time allows for me to follow up on.
Here are just a few to get your juices flowing.
Be sure to check your local ordinaces because a technique that might be 100% OK in Marysville, California might be completely against the city rules in Detroit, Michigan.
1- Look in craigslist.org under foreclosure or preforeclosure keywords
2- Place small ads in local newspapers
3- Place small 3X5 at all local bulleting boards
4- Put some ground signs at all allowed locations and freeway exits
5- Signs on electrical posts or back/front of benches
6- Small ads in large national newspapers
7- Place Ads in free online classified boards
8- Read all the ads in your local papers
9- Networking and Word of Mouth
10- Small business card placed at strategic locations
11- A mailer to local bankruptcy lawyers
12- A mailer to local bookkeepers, accountants and CPAs
13- Talk to all your local banks and their REO foreclosure department
14- Speak to and netword with all local realtors
15- Contact local HUD foreclosure office and get their list
16- Local public listing of notice of defaults
17- Sign on your car advertingin your services
Like I said, this is just a tip of the iceberg and honestly, one person alone will not have enough time in the day to follow up on all these methods.
And if you were to go all out and hire some foreclosure specialists or assistants, then you'll probably not be able to handle the volume of homes in preforeclosure that'll land on your desk.
Start with a small area in your city and expand your efforts as money and time allow.
The larger the radius you cover, the more properties you'll find which will require more time and money from you.
This is not hard. It's hard work!!
Put in the effort and reap the rewards.
Once you implement some of these strategies, you'll find one, two or three methods that will generate majority of your foreclosure investment portfolio. Then only focus on those till you exhaust the well.
My best source and the biggest foreclosed property portfolio came from one person, working in the bank and in charge of their forclosed properties. She told me that I was the only person who approached her for their listings. And for years, I received all the data, analyzed and evaluated them and made offers to the bank.
Most of them were accepted and I never had to pursure other methods as outlined above. And you'll discover your niche as well.
Happy investing.
Visit House Foreclosure and Investing Blog to read Forclosure Experts discuss Foreclosure Investing and Strategies on a daily basis.
posted by Mr. Foreclosure at 8:41 PM
0 comments
