Real Estate Investor · Lynchburg, VA · Member since 2009 · 41 posts · 3 votes
Do you all even bother doing direct mail to pre-foreclosures with no immediate equity? I'm new at this, but if I see in the trustee's sale ad that someone owes $300,000 on a house that's assessed at $200,000, they're probably not going to be able to sell it to me at a price I can work with. Do you mail to them anyway?
Residential Real Estate Agent · Chandler, AZ · Member since 2009 · 1k+ posts · 928 votes
17y
Webb-
You can still buy the properties via short sale. In today's market, that is the norm. If you are unfamiliar what a short sale then you can google or do a search here on BP. I'm sure the topic has been discussed extensively. PM me and I'll send you another link. So to answer your question, yes you mail it to them. Lots of homeowners are very motivated to avoid foreclosure, and one path to avoid it is a short sale.
Specialist · Tucson, AZ · Member since 2009 · 108 posts · 24 votes
16y
Dan
Would you expound a little on how you determine which homes have most equity? Obv for short sales I like to have a home w 2 mortgages but havent found a way to go through and find these without expending tons of time.
Do you focus on older loans that have more equity etc?
Thanks