BiggerPockets

Hi,

Is there a better way to find the addresses of the REOs rather than paying $49.95 a month for some of the foreclosure sites? Would the county court have this information?

Thanks,
REI Guy

Hi,

I am researching properties that are bank owned listed more than 30 days and that are less than 20-30% market value. I looked at foreclosures.com but they are charging $49.95 a month. It seems all sites on the internet charge money. Quite expensive. Can I do the research on the addresses of these properties for free?

Thanks for the reply...

What helpful answers.

At this time I am only doing research, and if there is a way to do it without paying a year for about $600.00, then wouldn't it be something to look into. I was asking to see if I could get an answer as to how these sites get their information and then sell them to others on the internet. If the information is available to them, I would think it should be available to anyone who would want to take the time to research the addresses.

You must be telling me to stop posting questions here.

Think outside of the box and not be so judgemental.

Second Rich's reply. If you are looking for listed properties, all you have to do is ask a local realtor, they can give you the information daily (if they are good) and you won't have to spend as much time researching.

Doesn't that sound better?

What city and state?

We have relationships with asset managers and can negotiate REO deals directly with the bank anywhere in the country.

Hello Angelina,

As others have suggested, the best way to obtain current REO listings is to contact your local realtor or one of the REO specialist in your town. Give them your criteria and have them compose an automatic notifier using their MLS system. Using this setup you will be emailed the REO listings as soon as they are placed on the market. If you use the paid sites you will probably be getting old info. Hope this helps.

I love this forum... always great info on the different ways of RE investments. I am a wholesaler and i want to start investing in REOs. Bigger pockets is always a nice place to start learning and find a good help. Thank y'all guys

When it comes to REO's, one of the best methods is to get hooked up with your local REO Agent(s). You will often find a few agents in your area tend to get a bulk amount of the REO properties from the major lending institutions.

You will need to build the relationship in order to thrive with this method of locating REO's.

I have found that it is much more of an education and worth the time to follow the listing of a foreclosure through the process until after courthouse auction.

NOTE: I would only do this if the home is being foreclosed on by a local bank...the major banks are a little more strict with who they choose to let play.

The good part about following the foreclosure process is that in the end you might be able to catch the property before the local bank lists it with an REO agent.

That means that you get in touch with them before anyone else even knows that the property is going into REO...The bank has not listed it on the MLS or began advertising which means you have a chance to take the bad loan off of their books early...which they will LOVE!

Hope this helps!