OfflineThe period of time before the formal foreclosure begins is an important buying opportunity. You can get in ahead of competing investors to properties on which the owner is delinquent on mortgage payments or violating other conditions of her loan. The key is to track and locate these defaulting owners.
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Hi scarlson,
Would you need an insider source at a bank to know who is delinquent or is going through pre-foreclosure. I wouldn't think online services have personal financial information for persons that are late on their mortagage available to the public?
My question is, how would you go aquire that type of information?
Regards,
Gandy Kachucha
Good question.
***Ms. Highly Favored***
A bank would not be able to give out personal information concerning someone in default. You could contact your local courthouse and find out where the legal notices are published. This will give you the exact legal description of the property and the name of the person that is in default. I hope that this information helps!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Hi Gandy!
I'm just making my way through a second reading of Dean's books.
One of the things Dean reveals is that sometimes going directly to the source (the homeowner) is the way to go. Check out these chapters, in his books, maybe they'll be of some help in achieving your goal, if you are unable to find the personal information through other methods.
Be A Real Estate Millionare
Chapter 17 Buying Pre-Foreclosures, REOS, And Short Sales
(Look on page 227 for a way to find pre-foreclosures.)
Profit From Real Estate Now
Chapter 4 Using Automation To Cash Big Checks
Your Town Your Real Estate Profits
Chapter 14 Finding Deal
Look on page 228 for a way to find pre-foreclosures)
The 30 Days Fast Start Audios- Audio 5 has info on pre-closures, also.
Hope this helps!
Kim
"Imagination is everything. It is the perview of life's coming attractions."
Albert Einstein
Scarlson: Thank you very much for the highly important information.
Kim: I have not read "Your Town Your Real Estate Profits" yet, but will get it very soon. Just finishing up "Profits From Real Estate Now"
I have so far gathered plenty of information on adverstings homes online and locally, information on Real Estate Investors, forms required for leasing or assigning, plus I've signed up for classes to aquire my Real Estate license, that should give me insider access to the MIRealEstate system and I can make nice commissions listings homes for clients.
Best Regards,
Gandy Kachucha