Pre-Foreclosure information vending: Is this a good business idea?

I have a business idea and I want to know if it is a good one or way off and shouldn’t bother.

I have made a habit of going to the local counties in my area and collecting pre foreclosure information - namely ‘Notice of intent to foreclose on Deed of Trust’ information.

From there I know that the standard business model is to contact the individual served, try to get their property under contract, and make a deal with a buyer for a bird dog fee.

I was just thinkin’, is it worth my while to try to sell the information itself? I did put time, effort, research know how and transportation costs into getting the information and thus it seems to have monetary value. My only competition, it seems, would be list brokers that we’ve all seen advertise on the r/e investment sites but I would guarantee my product as valid pre-foreclosures and that they’re exclusive, I would sell through personal networking not through an ad and then delete any info sold so as not to sell it to someone else.

Is this an idea with merit or should I not bother?

You would probably need a relatively large volume to make any money.

make connections with agents or brokers, so that they intimate you when they find any foreclosure deal.get register on various online listing available and find you can get access to online auctions and keep update yourself.

When you put it under contract make sure you disclosed everything to the seller such as I do not have any money I am going to try and re-sell your property to a buyer.

There are companies online that will sell this information. Doesn’t mean there is not still a market for it. It sounds like you don’t want to resell the same info to multiple investors but these companies do, and I don’t think you’d make a ton of money otherwise. If you’re in a well populated area it could be worth it, but there may be better potential in putting the deals together yourself and wholesaling them or doing subject to if you have the cash.

Most recorded data lists come to the general public (you and I) a day or two AFTER recording.

It is avilable to title compaines normally just after midnight on the day it was recorded. They hve it first thing in the morning when they go to work. They have to have up-to-date informatiion in order to insure titles.

There are lots of compaines who pay for the information just like the title compaines do and have it long before it becomes public information.

It is available on-line totheir subscribers first thing in the morning just like the title companies.