preforeclosure questions

Hi! I was thinking about going to the courthouse tomorrow to get some leads. Do you guys think I should only get the recorded defaults that have been there for a few months as it only goes to the loss mitigation department after 3 months?

How would you market on a shoestring budget?

Also… I’ve been told that driving to properties in default looking for abandoned properties is a great way to find deals… what do you guys think?

Hey Arie,

  When started doing SS's I also was on a shoe string budget.  One place I got leads from was the court paper.  6 days a week the legal news paper reports all the foreclosures filed each day.  I have the paper delivered to my home.  Upon getting it I put it on top of my legal news paper pile.  I don't even look inside.

  Once I had 3 months worth of papers built up I started going through them starting with the first one I got.  I looked up each case number to find the ones that were still active.  I read the dockets to see which ones I am most interested in.  I then send out a letter and a post card to the addresses in the report.  I hand write the letter to have a better chance of the HO opening it and reading it.  I also include my business card in the letter.

 For the post cards, I print out the addresses I'm mailing to on labels then go through and sticker the cards.  I will be posting a copy the card I use for everyone to see on my website soon.  I got 5,000 cards printed for $130 which is the best price I have found for printing.  They also do 5,000 business cards for $100.  If anyone is interested in this printing company let me know and I'll give you the link to their website.

 The business cards are important because I use them as a form of advertisement.  I have a foreclosure ad printed on the back of my cards.  I will be adding pictures of this to my website also.

 As for the driving to properties looking to see if it's been abandoned yet or not is one way of deciding if you want to pursue a SS.  Whatever works for you.