Author Topic: Finding pre-foreclosures and owner contact info  (Read 1000 times)

shanaling

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Finding pre-foreclosures and owner contact info
« on: January 06, 2016, 12:15:21 AM »
What is the best way to contact these owners? Postcard to property site? Through an agent?

What is your favorite website to find foreclosures? netronline.com? realtytrac.com?

Any free websites that would offer similar information? I live in Los Angeles County.

Thanks in advance.

Another Reader

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Re: Finding pre-foreclosures and owner contact info
« Reply #1 on: January 06, 2016, 04:49:29 AM »
I own rental properties, none of them delinquent on the mortgage.  Some don't even have mortgages.  I average between 5 and 15 post card or letter solicitations from wanna-be wholesalers or investors every week.  You can tell when a real estate "guru" passes through town, because the volume of neon postcards and fake handwritten notes on lined yellow paper picks up substantially a couple of weeks later.

You can buy foreclosure lists, which are worthless, because the same information is sold to a lot of people.  You can buy lists of out of town owners, same problem.  The vulture market has a lot of vultures, and the carcasses are generally picked clean before you get to them. 

My suggestion is to keep your eyes and ears open for properties in your target neighborhoods by driving around.  Look for houses that are vacant and/or not in good condition and then research the title.  If they are owned by trusts or estates, that might be worth making contact.  However, you won't be the only person doing this in an efficient market like Los Angeles.

Edited to add:  Attend a couple of meetings of your local real estate investors association.  Talk to a lot of different people there to separate the hucksters from the real investors. I have met a couple of flippers by striking up conversations with folks at Home Depot by watching what people are buying there early weekday mornings. Making connections with these people will serve you better than any list.
« Last Edit: January 06, 2016, 04:57:05 AM by Another Reader »