Pre-forclosure

[nofuss247]

Helle everyone,
So I went to the courthouse looking up people who were on the pre-forclosure list. I really didnt know what I was looking at and know one really wanted to help so I thought thats OK I will go home and talk(type) to my family. So here I am with more questions. What am I looking for in a pre-forclosure? The types of liens that were on the properties was tax liens, municipal liens and mechanic liens. I was wondering if anyone could tell me what a tax, mechanic and municipal lien is and which one is the best for me to look up as a prospect.
Thanks you in advance,
Mylon

[kjowers]

I too am trying to figure out the Pre-Foreclosure thing and wont be much help there, however I can tell you that a mechanics lien is how I aquired my first property. I have a heat & air conditioning company and years ago we put a new system in a house and the guy didnt pay for it. We then filed a mech lein against the property, when the bank foreclosed on the guy they contacted us since we had a lein and told us what they were going to bid and then we bid $10.00 more... wola first property

[Randy Lee]

I've found that the best pre-forclosure deals come to me from two sources:

1) From other investors and 2) Referrals from home sellers who's houses I've bought on short sale.

At first you may think it strange that other investors would provide me with good deals. However, it makes a lot of sense if you think about it. There are tons of investors out there looking for properties they can buy at 50 to 70% of retail. They post signs all over. They advertise in newspapers. They hire bird dogs. They are contantly on the look out.

...Unfortunately most of the properties that are about to go into foreclosure and doing so because the homeowners can't sell the house for what they owe on it. To put it in modern day terms; they are "upside down".

...So when they call the typical investor and tell them their sob story; the investor's reaction is either A) "Don't call here anymore." B) "Please don't call here anymore." or C) "I think I know someone who can help you. Call Randy Lee." The reason for response #3 is that I have adequately educated my fellow investors about what it is that I do.

Every time you go to an investors group meeting (REIA) you should be broadcasting that you do short sales. You don't have to explain it in detail. Just tell the other invetors that you can help home sellers that owe more than their house is worth. If they want more detail; explain that you negotiate with the bank on behalf of the homeowner and often can secure a significant discount on the amount owed.

Most investors have their on strategies for obtaining properties (and what they will do with them). They are glad to pass along the ones that don't fit their method of operations.

Next; once you've managed to successfully complete a few Short Sales, the home sellers you help will help you! Treat people with respect and follow the "golden rule" and you will find that they will be glad to provide you with referrals. That is as long as you remember to ask for them.

Note: I've tried to put all I know about the basics of short sales in my book: "Short Sales: The Secrets and Strategies of Pre-Foreclosure Investing". In it you I walk you through each step from finding deals, working with bankers and presenting proposals to exit strategies that make sense for you. I'll show you the marketing ideas that have worked over and over for me and others. And I will encourage you to, as they used to say in those cool Nike commercials, "Just Do It!". You can find my book at my publisher's web site: www.Purpose.4T.com. I think you'll find it the least expensive way to learn what you want to know about this subject.

Good luck!
-Randy Lee

[Dan Auito]

NoFuss, you have heard it straight from the man himself, as I am fond of saying, you cannot go wrong by getting Randy Lee's short sale course and I back it up with a 100% refund myself! Now go get that book!

Randy those where some outstanding insights into how to actually work the Pre-foreclosures, most people try the easy road, granted with work your road looks much more fruitful when getting serious and sticking to the course!

Thank you for stopping in Randy it's always a boost seeing a real pro drop in to speak to those who want to know! Dan :praise:

[nofuss247]

Thanks everyone Keep it coming,
Mylon

[Dan Auito]

Hop on that bike of yours and get going! Action :thumbsup: Get Randy’s course and start preparing the fertile grounds of the mind. One problem that pervades prospective or shall I say potential real estate investors is that they just can never bring themselves to take the necessary actions which lead to success.

I realize your new Mylon, but you can really surprise yourself by getting the courses that are recommended and reading them until you've got the material and the principles behind it in your head, then go out into the field and get down and dirty with it!

Sure confusion will rein and rejection will slap you around but before long a deal is going to come to you. You probably will be staring it in the face saying something like oh Sh!+ what do I do now, I can make some good money here.

Follow through and come back here for the fine details to work out your deal and go get the darned thing! Tony Robbins preaches taking MASSIVE ACTION, that's his motto.

That is what you must do in order to succeed. Keep reading and asking as long as you need too but keep in mind you must act and get in front of motivated sellers to succeed! :SM127:

[nofuss247]

Im on the bike reading, studing, learing, asking questions,and getting grimmy dirty.
Thanks everone for the motivation and PUSH,
Mylon