Homeowners in pre-foreclosure are one type of motivated seller to focus on as a real estate investor. The pre-foreclosure stage is where a property is in danger of being foreclosed on and the owner has likely already defaulted on several payments.
If a property owner is having difficulty affording their home, they are more likely to need the hcelp of a real estate investor. These motivated sellers are a demographic you should focus on if you want to close profitable real estate investment deals.
If a property owner is having difficulty affording their home, they are more likely to need the hcelp of a real estate investor. These motivated sellers are a demographic you should focus on if you want to close profitable real estate investment deals.
There are several ways to find homeowners that are in foreclosure or pre-foreclosure.
There are two lists available to find motivated sellers facing foreclosure, local list providers and national list providers. The local list provider will probably have more up-to-date information than lists provided by national list providers.
You can find a list by searching for list providers in the city you are targeting. For example, do a google search for list providers for Riverside County in California. These lists will cost money.
You can also find potential foreclosures by contacting local real estate investing clubs, title companies, and real estate agents. Let them know that If they give you a heads up about upcoming foreclosures, you will let them know if you come across a seller that would benefit from working with them. It is a win-win for both of you.
A list provider and networking can save you time. Doing your own search for motivated sellers can also provide helpful information. There are several ways to do your own search. For example, you can visit your county recorders offices and sometimes banks even list their defaulted loans online.
Once you find homeowners facing foreclosure, you need to market to them about how you can help. There are several ways to do this.
A common misconception is that you can only become a real estate investor if you have access to large amounts of money. However, there are ways to invest in real estate without using any of your own money and even if you have poor credit. One step is to market to these sellers in pre-foreclosure.
Mario Menendez
Mario Menendez is Mi Casa News author, self-made entrepreneur, and master real estate investor. He immigrated to the U.S. from Guatemala without speaking English and having little money. He has been named a real estate expert in pre-foreclosure Deals, by helping hundreds of Homeowners. After years of trial and error in wholesaling and rehabbing, he created his own strategies. He is now considered one of America’s leading pre foreclosures experts— helping homeowners on their pre foreclosure solution journey.
