Foreclosure investors how are you getting deals?

Question

Omar Dadabhoy · Answer

Hey Chris, yea I think that would be considered foreclosure investing, but wasn't really what I was envisioning when I wrote that post. Happy to chat though! Super curious how you're doing it!

James McGovern · Answer

I acquire property only via foreclosure auctions as wholesalers in my area are not effective

Bruce Lynn · Answer

On the single family and land side, that's all I pretty much buy any more.  Haven't missed a sale in about 15 years.  Deals though are few and far between.

How are you helping people in Dallas from New York?  What does that mean?There's not a lot of science to it.  You get the list, you do your analysis, make your picks,  if you have time try to source before the auction, if not buy at the auction and then execute your strategy.

Omar Dadabhoy · Answer

What do you spend time doing and what numbers?

Bruce Lynn · Answer

The foreclosure info not secret....sometimes posted months in advance, and of course the sale is public.  Show up and you know what goes back to the bank (80-90%) and what got bought by individuals.  For the most part though it is not a game of speed here in Texas.  More of a game of time, money, and knowing your numbers.

Omar Dadabhoy · Answer

Well Im from Texas for one so a lot of my network is still there. Basically everytime someone forecloses in Dallas my buddies get notified as soon as that happens to they can act fast and get to it before anyone else!

Chris Seveney · Answer

we buy non performing notes, so we foreclose on properties - you consider that foreclosure investing?

Fernando Alonso · Answer

Hi Omar,

I’ve been in the foreclosure business here in Florida since 2009. Feel free to shoot me an email with any questions or details you’d like to discuss, I’d be more than happy to share insights and help however I can.

Looking forward to connecting!