Finding Short Sale deals, non mls

Ok, I know that I can go to a Realtor office and get a recent list of short sale's currently on the MLS but there has got to be a better way to find deals.

I'd love to hear what people are doing to find deals NOT on the MLS. With all the personal info needed it just seems like a realtor would only get in the way. There are some short sales in my area that have been on the market for over 2 years.

Are you guys buying lists and direct mailing to people that are upside down? I look forward to the feedback.

Jeff

Edited: 06/26/2010 at 09:14AM

Jozef Forgac

Loss Mitigation Specialist · Jacksonville, Florida

52 posts
94 Influence
2 Awards

Icon_minipost Aug 04 '09, 08:38 AM

What I do I go to my county courthouse to the civil record department ans ask for list of lis pendens. They charge me $2 per page and on one page is 9 cases.Than I take this list and go to filing dpt. They will bring me over files and I look in to every file just for name and address. Then I mail it to this homeowners directly and to some I stop in person and I left my letter in their door.
That is the cheapest, quickest way to get them. You have to sort them as there will be also vacant lots, or hard to undesratnd trust or corporations. Keep it simple and just choose the area what you know you want to do a business in and residential with the name and full address. Don't concentrate on mortgages or try to read the whole file. Whn you get respond homepowner will tell you all what you need to know. It will take me about 30 sec. on file and I go to courthouse twice per month.
I believe this will work well also in your area.Some counties have on line access. Mine has also on line but I can get only case number wthout name or address so I have to make my 10 min. trip there twice per week.
Have fun.

Edited: 06/26/2010 at 09:14AM

Jeff and Cheray Warner

Real Estate Investor · Grants Pass, Oregon

493 posts
3980 Influence
7 Awards

Icon_minipost Aug 05 '09, 03:57 AM

Ok so I've read some articles that helped me narrow it down to direct mailing to Pre-Foreclosures, which brings up another question:

When direct mailing to people in that situation, do you guys find it better to send a letter rather then a post card?

Also, does anyone care to share a message that is bringing in solid short sale leads?

Jeff

Edited: 06/26/2010 at 09:14AM by Jeff and Cheray Warner

Alex Locklear

Real Estate Investor · Raleigh, North Carolina

197 posts
863 Influence
3 Awards

Icon_minipost Aug 06 '09, 04:32 PM

Jeff,

I believe a lot of people (including myself) like the postcard route. Of course, some do prefer letters. The post card in my opinion sort of forces them to read it or at least grabs their attention.

During the start of the foreclosure process I'm sure they are receiving all sorts of mail and the last thing they want is to open another letter from someone they don't know.

I am working on a couple of short sale deals as I type; getting the leads aren't the hard part. Getting them to work with you, collecting all the documents, and actually negotiating with the banks is what can be tough.

As far as getting leads, definitely do some sort of direct mail to NODs. Also, if you aren't afraid to put out bandit signs...those will get your phone ringing as well. But be aware of the sign police too....oh and you should get a mentor. Or someone who's at least done a deal or two who can hold your hand practically and walk you through it all. There are some on here that have tons of experience with shorts. My mentor sure is doing a hell of a job with me...

Good luck!

Edited: 06/26/2010 at 09:16AM

Richard Doucette

2 posts
-25 Influence

Icon_minipost Jan 07 '10, 02:17 AM

I have had luck going with pre NOD the 30/60/90 day late pay. I use the yellow letter it seems to work better than post cards, I purchase my leads from [AD LINK REMOVED] they have the best pricing I have found anywhere and the leads comes from the credit bureaus, Good Luck

Edited: 06/26/2010 at 11:08AM by Moderator : link in signature, please