How Do you find the Foreclosures and diss properties

Hi any help would be great im trying to find out the best source to find foreclosures other than the newspapers and the sites are usally not up to date email or im me please

Edited: 06/26/2010 at 04:27AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

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Jan 04 '08, 08:24 PM

I think this might help:
http://www.biggerpockets.com/find-foreclosure-homes.html

Edited: 06/26/2010 at 04:28AM

Joshua Dorkin, BiggerPockets, Inc.
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Andrew Cobb

· El Paso, TX

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Jan 06 '08, 05:28 AM

I have been looking for forclosed properties in El Paso also and so far have found nothing

Edited: 06/26/2010 at 04:28AM

Aaron Pfeffer

Residential Real Estate Broker · Los Angeles, California

63 posts
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Jan 06 '08, 08:43 AM

When you say " foreclosure" do you mean a property that has received a Notice of Default and is in the process of being foreclosed on...or do you mean an REO property that has already been taken back by the bank?

If you want an NOD property -- call a title company and ask a rep to send you a list of everyone has received an NOD in your particular region. Perhaps for a small fee.

You want REO -- google specific real estate agents in your zip codes who have been positioned by a lender or lenders to market the REO. Many of these listing agents have worked hard to achieve their status as go to REO agents and may have multiple listings.

Good luck.

Edited: 06/26/2010 at 04:28AM

Desmond C

Homeowner · norfolk, Virginia

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Jan 07 '08, 08:17 PM

There has to be a step i am missing i look through the papers and the sites when the houses go to auction someone already beat me to the punch meaning they ot to the home owner befor the auction what form can i bring to them so i can do the same.

Edited: 06/26/2010 at 04:29AM

Jon Holdman

Real Estate Investor · Wheat Ridge, Colorado

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Jan 07 '08, 09:25 PM

When you find an NOD, start marketing to the homeowner right then. Letters, postcards, phone call, knock on their doors, whatever. If you want to make a deal before the sale, you need to get in touch with the owner.

Note that you will be one of dozens or hundreds of investors that make contact with such an owner.

There are numerous books available on how this process works. There's also lots of material here in various posts, though it may make more sense if you take the time to buy or borrow a book on " pre foreclosure investing" that presents everything in an organized manner. Then, you can read here and what people are saying about specific deals or circumstances will make more sense.

Jon

Edited: 06/26/2010 at 04:29AM

Jon Holdman, Flying Phoenix LLC

Aaron Pfeffer

Residential Real Estate Broker · Los Angeles, California

63 posts
3 awards
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Jan 07 '08, 09:55 PM

Hand written letters and door knocking have proved to be the most effective. At least in Los Angeles...and this is isn't always the friendliest city. Plus, that rush you feel in the depths of your belly when you knock on a stranger's door to talk to them about their woes is better than jumping out of an airplane.

If you go the door knocking route, be aware that most people will not be home, so leaving a bulky package with a handwritten note also got me a decent response. By bulky package -- meaning property comps and history of title, which can often make them feel comfortable that you are already knowledgable about their property.

Edited: 06/26/2010 at 04:29AM