Within the past week I’ve been trying to initiate a system to finding the pre-foreslosures/owners before it hits the mainstream. I have after-hours/weekend access to county hall (a definete advantage for more research) and figured looking at all the Lis Pendens during the past month would give me a gold mine of a list. ;D
However I underestimated the amount and ended up with 550 different Lis Pendens for different cities,amounts,etc.
How do Investors choose the criteria for a good foreclosure purchase (other then motivated sellers ;D). Does the area matter? is it the amount of the lien? The value of the property?
I know all these play an important part in the process when a lead shows itself, but whats the FIRST distinguishing factor that would make you see $$$$$$.
Any advice is appreciated!!