Im curious as to the best place to find foreclosures on the internet? Also i was curious what everyone thought of foreclosure.com. It seems to be a very good site, but if i can find that info for free i’d rather not join. Let me know what ya think. Thanks
My opinion is that site, and any site like that is very outdated. Maybe you’ll look through it and find a property you like but chances are it probably already sold; a few months ago.
To find foreclosures you have to work a little bit harder, a couple of ways-
Call banks and get in touch with there REO departments (many have websites)
Use a local real estate agent who handles foreclosures
I found that my best short sale deals came from leads off signs and direct neighborhood mailings. For the most part I would find homeowners heading toward foreclosure before every other investor knew about it. After some time in the business, almost all of my leads came from referrals. People begin to know that you’re the go-to short sale expert.
As for the foreclosure websites, I too found the info outdated and too visible to my competition.
- Short Sale Mike
REO department in banks. What does ‘REO’ mean?
Those sites all stink. Its a waste of time. You need to market yourself and get into the field of play.
Mail letters, run ads, knock on doors, drive in your areas that you want to invest in looking for vacant or run down properties, tell people what you are doing, join a REI club (real estate investing club), meet realtors, meet bankers, post flyers at hardware stores, shopping centers, grocery stores, get business cards and give them to anyone and everyone, bandit signs, and so forth.
Nate-WI
- i whole hartedly agree you need to get out and do there is nothing like it !!! AS your market will be differant from mine or the next persons and you find a lot more out this way then looking for the easy way to riches
what does your letter look like and say