OfflineOne way to identify potential short sale properties is when the mortgage holder sends a Notice of Default. But this document is public information, so many other real estate investors may be in contact with the owner seeking to arrange a short sale.
Just like in a regular foreclosure, you can find this information, and in the early days of the preforeclosure period many buyers may be willing to consider a short sale. Of course, you need to convince the lender and not just the current owner.
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There is a way to get a jump on other investors who are waiting around for NODs. Consumer Data Leads will send you the names and addresses of props that are 30 - 90 days late in payment. This way, you know who is in trouble before they receive the NOD.
http://consumerdataleads.com/home.aspx
Cindy
Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.
The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart
"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard
That is a great website! Very affordable lead source Cindy thanks for the tip!
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
I was quite thrilled with the website. I learned about it from a speaker at a REIC meeting. Yet another good reason for people to find a club and attend meetings.
Cindy
Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.
The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart
"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard