Soliciting Advice on venturing into pre-foreclosure investing in Los Angeles, South Bay and Long Beach areas
Hi BP,
I'm a budding investor and am considering investing into pre-foreclosures. I'm interested in pre-foreclosures because I might have some current skills that might be transferable to this industry. I currently work full time in hospice as a chaplain and occasionally help families through times of crisis, grief, loss; feelings I imagine might be felt by a homeowner going through default. I figure I could use my skills to help homeowners out of their predicament. And as such, I'm open to considering offering these skills in partnership with someone else who is doing pre-foreclosures.
I'm hoping to learn more from investors engaged in purchasing pre-foreclosures in the Los Angeles area. I'd like to know what the business is like, is it still a good niche to be in, how to get started, etc.
So far I've only read "The Pre-Foreclosure Property Investor's Kit, " by Thomas Lucier (2005). It was a really good book because it provided a lot of great details on the pre-foreclosure process and very easy to read. The only downside is it's 10 years old now and I'm sure things have changed since then. Does anyone have any book and/or other resource recommendations on the subject? I can't seem to find other such focused books on pre-foreclosures.
I'd appreciate any thoughts, recommendations, advice on my situation/requests. Feel free to respond to this thread or PM me. Thanks for reading this!