Help With The Process Of Pre-foreclosures!!!!!

[exec927]

Hi my name is Jeff,

Well,I was wandering how to find pre-foreclosures,and how to approach them,and then what to do from there.I'am currently going to be working with an investor that says find the pre-foreclosures and get them to accept and well do business....So I just need to know how to locate these gems,and also how many investors do you think are going after the same houses that im going after....do you think the competition is really tough???

I would greatly appreciate your help.....

o and 1 more thing,,what should I do with the house if I do get an offer accepted,,,,Flip,wholesale,retail,I dont know???

Thanks and Godbless,
Jeff

Please email me the answers also because Iam rarely on here,but am trying to be on this board as much as I can,,,,,,,,,,email: exec927@hotmail.com or tru4u27@yahoo.com

[REIaddicted]

Hi Jeff,
You may also subscribe to the thread. that way when someone answers your post, you can hop on over.

Next, do a searh on preforclosure as there are several great explanations in this forum covering the matter.

You can go to the court house and look up the NODS ( notice of default) get the info then send a letter to the owner.
Once the forclosure hits the legal newspapers, your competition has just tripled.

You may use several different marketing methodes, this way the home owners will call you.. but it does take time.

Good luck and welcome to the board.

lisa

[exec927]

Thanks Lisa,

What do you think a good method would be to do with the preforeclosure,wholesale it,fuix up,????A good suggestion for someone just starting out???

Thanks

[REIaddicted]

Thanks Lisa,

What do you think a good method would be to do with the preforeclosure,wholesale it,fuix up,????A good suggestion for someone just starting out???

Thanks

Depending on how much money you have to work with... If it is in preforclosure, the process has not yet begun... I would place it under a subject 2 contract, then flip to an investor for some quick bucks.

If you have the $, you can also pay the back payment ( have the house in a land trust)

lease op the house out using the down payment to catch up the back payments, split the payments and profit with the original home owner ( he is benificiary in the trust)

There are many ways to do this. The wuickest and easiest is to get it under contract as a sub2 and flip. IMHO

Lisa