I am looking into getting into real estate investing and there seems to be a lot of information out there to be had for a price. Since money is very scarce at the moment and everyone who has a forclosure list seems to want between 40.00 per month or around 300.00- 500.00 to share knowledge I am wondering where to look for the information that I need. Those of you that are experienced real estate investors I s there a particular forclosure list that you subscribe to or is the information out there to be had for free. My ententions are to get into buying fixing and turning for a profit initialy then eventually buying and holding property for lease. My background is electrical and mechanical with carpentry and plumbing skills also so I should have an easy time of fixing up homes that I Buy.
Thankyou for reading and any response would be greatly appreciated
Money is hard to find for sure… The postings have to be posted at the courthouse in most states 21 days prior to the day of the sale. They are just pinned to the wall in the hall near other postings etc. The online service is great and is easier and better and faster and well worth the money. Hope you can afford it soon.
Hope this helps
Thank you for the reply Tedjr
Is there any particular Forclosure listing service that can be recomended like I said money is tight and I can’t afford to make mistakes. Or is it against the rules to ask for this kind of advice. I don’t want to cause problems but would greatly appreciate the input.
I am not asking for Free and I am already on top of the listing at the Courthouse I went there today and they will have a new list available by tomorrow so that information was very helpful. As far as the listings go in the web what I am trying to find out is which one to use so I do not waste what money I have. As I said money is tight not nonexistant I can’t afford to waste it ! Any recommendations
Call the title company mine gives me the list for exchange for them doing my Deals! what state are you in?
I am in South Carolina. What do you mean title Company is that same as mortgage holder.
Again I am new to this so I am still learning and trying to blindly find my way. I have personally closed on 3 Homes that I have lived in not as an investor.
Sorry about the delay they should have a copy!!
Tell them you want to build a relationship and use them for your transactions
Hey just as a quick question if you don’t mind what programs are telling everybody that forclosure is the way to go?
As far a what programs are saying forclosures are way to go I have not gotten any Programs. I just opened up a brand new Carlton Sheets program that had never been opened that i picked up at a yard sale. The thing I am looking to do initially is to Buy distressed properties and fix them up and turn them quickly. I feel this is the quickest way for me to gain much needed cash flow and I am able to do most of the repairs myself. I am kind of jack of all trades master of none. Long term I would like to be able to pick up properties to hold for rental income
SC is an attorney state, not a title company state. In SC, local attorneys handle real estate closings, whereas in a state such as VA or MD real estate settlements are generally conducted in the offices of title companies.
Title companies specialize in real estate settlements. However, in SC the attorney doing your real estate settlement might also have a thriving estate practice.
If you are investing in Horry County, I will give you a referral to a list provider who compiles data on the monthly courthouse foreclosures and publishes a pre-foreclosure list, too. You can subscribe for three months at a time for about $160.
Just email me your name, the address where you want your list mailed, and your phone number. I will put you in touch.
Thank you Dave for the Input right now I need to stay in the upstate of SC
We have a courthouse auction on the first Monday of the month. Here is the preforeclosure story for Horry County, SC as related to me yesterday by one of our local courthouse denizens.
[b][i]"We have seen that the number of preforeclosures has been rapidly shrinking over the last few months. There used to be 11-15 cases filed at the courthouse, now we are getting only a couple per month. There is a reason for that. Basically, the attorneys have learned that they can save about $10 by filing the Notice of Default and the Common Plea at the same time. When all the attorneys eventually learn this, there will be no Preforeclosures.
The few that we have now are Plaintiffs who want to spur the Defendant into correcting the deficiency. But, in general, they no longer wait 30 Days for deficiency correction. We’ve observed that within a couple weeks these Preforeclosures are turned into Foreclosure cases."[/i][/b]
Hi, I just registered to this site a few minutes ago and am already finding usefull info.I , like Bad_Rapier am also interested in obtaining foreclosed and/or Distressed property.I live in N.W. Ohio and sure would appreciate any and all help and information .Thank You in advance : ) …Terri
I just got back from picking up the forclosure sale list for february in my county. There are 14 Houses on it so now the research starts with the County GIS website to start finding tax appraisal values. I will start from there then off to county courthouse tomorrow to find
out what is owed on them from these 2 things I should be able to narrow the field down to 3 or 4 that I want to concentrate on. then the real leg work will begin going to look at the houses to see if any are really worth the time.
You can also find VA foreclosures at ocwen.com. I have purchased a couple with over 10K built in equity, with little fix-up cost associated. Also, you can finance the properties under the vendee financing program. They will finance 95% of the purchase price, with a 2.5% funding fee. They waive this if you receive any service connected disability. The interest rate is only 5.5%. I have a service connected disability so I was able to waive the funding fee. Example of a 53K property I purchased this month. I had to come to the closing table with $4,401.50, (borrowed) with a monthly payment of 468.41. I rent the property out for $720.00. The property is valued at 68K. They also charge a $350.00 application fee (nonrefundable) and earnest money $500.00 for most properties…Just my experience…Hope this gives you another option.