I haven’t really done to much as far as investing except for some stocks. I really want to get into forclosures and pre-forclosures. I already talked to a bank and got a pre-approval letter for 500,000 and just need to know where to start. Also im pretty worried about what smart money and forbes magazine said about housing prices going down in 2007 i want to get started right away but im kinda scared. i guess im looking for info on where i can find foreclosure listings and pre forclosure listings. For my area. I tried going to the courthouse but they are useless they said they don’t have the info and not sure if they ever will. So some help would be great.
*how room to leave between purchase price and market price to cover expenses and make a profit.
*where to locate listings
*tips on what to avoid
*tips on what to look for
*anything else you can think of
I really appreciate any help i can get thanks alot
I do pre-foreclosures. It’s just not all that difficult altho some seem to make things overly complicated. I get my pre-foreclosure leads right out of the classified section of my local newspaper ( I go to their online site) in the legal notices section. I start a mailing campaign to each one of them. Some call me from my mailings. I get as much info as I can on the phone to get a feel as to where the homeowner is. I go see them. If there is a deal to be made…I make it. If not…there’s always another prospect. The key however is in the mailings…to make you stand out from the others. The way you market yourself is all important. The rest is your skill as a saleman. It’s just that simple.
As far as i know the local website is www.masslive.com but whenever i look up the forclosures it brings me to a site called realtytrac can you look at the site and please help me out that would be great.
go under classified, public notices… and look for this
Click Here for Complete Ad/Notice.
LEGAL NOTICE MORTGAGEE’S SALE OF REAL ESTATE By virtue of and in execution of the Power of Sale contained in a certain mortgage given by Bettie S. Hallen to First Eastern Mortgage Corporation, dated August 31, 2004 and recorded with Hampden County Registry of Deeds in Book 14453, Page 98 of which mortgage Wells Fargo Bank, National Association as Trustee for Securitized Asset Backed Receivables LLC 2005-OP1 Mortgage Pass-Through Certificates, Series 2005-OP1 is the present holder by assignment, for breach of conditions of said mortgage and for the purpose of foreclosing the same, the mortgaged premises located at 331 Stony Hill Road, Wilbraham, Massachusetts will be sold at a Public Auction at 1:00 P.M. on February 17, 2006, at the mortgaged premises, more particularly described below, all and singular the premises described in said mortgage, to wit: The land in Wilbraham, Hampden County, Massachusetts, bounded and described as follows: Beginning at an iron bar in the Westerly sideline of Stony Hill Road; said iron bar begin distant Southerly Three Hundred Fifty (350) feet from an iron bar at land now or formerly of one Kinney; thence running WESTERLY two hundred eight (208.0) feet to an iron bar at land of the grantors; thence turning an internal angle of 90 degrees 05’ and running SOUTHERLY by land of the grantors one hundred (100.0) feet to an iron bar; thence turning an internal angle of 89 degrees 35’ and runnig EASTERLY two hundred twenty-four and 65/100 (224.65) feet to an iron bar in the westerly sideline of the aforesaid Stony Hill Road; thence turning an internal angle of 80 degrees 50’ and running NORTHERLY along the aforesaid street line One Hundred (100) feet to the point of beginning; the last described line forming an internal angle of 99 degrees 30’ with the line first described. Containing 21633 sq. ft. of land. For mortgagor’s title see deed recorded with the Hampden County Registry of Deeds in Book 14453, Page 96. The premises will be sold subject …
Click Here for Complete Ad/Notice.
Published in Republican on 01/23
Let me try an make this really simple. You don’t look for foreclosures…you look in the legal notices for trustee sales. Just scroll down thru the legal notices and you’ll find them if any are there. You’re trying to make this way more difficault than it is. There are no searches. It’s no more difficult than looking thru used car adds for a car.
that is an great question im not sure which ones are forclosures or not this is really confusing if there is someone in the area that is good at this maybe we could meet up and talk so you could help me out. Lunch is on me!!!.
Also anyone who can shed some light on the situation for me and the guy above me that would be great!!!
I’m in the preforeclosure market. For what it’s worth here is how I got started:
I read everything I could find on the net about the subject. I copied and pasted most of it into word. I printed it all out…and there was a ton of it. I went thru it all and hi-lited all the basics and pertenent stuff. I then distilled all that into a few pages. From that I wrote a business plan…and this is a business…a business plan helps you focus.
I developed a marketing plan…I wanted people to call me…not me running all over the place knocking on doors.
When they call me I needed to know exactly what I was going to say and do. For that I wrote a telephone script so as not to let the caller control the conversation…but me. I needed to know exactly what I wanted to accomplish with that first contact with a prospect
I also needed to know all the options available for those in foreclosure and how those options might be monitised.
From that initial contact on the phone I get a pretty good idea of how I want to proceed with that prospect.
this is just the beginning, but I’m sure you’re getting the idea. Preparation is the key to success.
I have a background in sales and marketing…and they are probably as, if not more, important than RE knowledge. They are well worth a lot of study.