pre foreclosures vs. foreclosures.. which do you go after/ why??

[Katelyn Atcavage Robideaux]

looking in Florida for a few buyers... I am finding the terms to be quite confusing and not sure what to look for or avoid? Any tips or a system that has worked best for someone?

[Marty Boardman]

There are 3 phases to foreclosure:

1. Pre-foreclosure

2. Auction

3. REO

I purchase most of my fix and flip and rental properties in the pre-foreclosure phase (directly from the owner by door knocking and text messaging) and at the auction. Auction buying is much more risky, but with the right strategy you can reduce a lot of that risk. These days finding REO properties with any margin is almost impossible.

If you're looking on behalf of buyers your best bet is to target homeowners in pre-foreclosure. As Tim mentioned you'll need to search the county court records for the notice. Then you can send these homeowners a letter, knock on their door or skip trace/text. Best of luck to you!