Updated almost 7 years ago on . Most recent reply
How do I find off market deals/pre foreclosure deals?
Most Popular Reply
Hi @Leland James,
First thing I'd offer, is that there are a ton of possibilities. What is most important though, is what you'll be comfortable and happy doing. For myself, I didn't like talking to owners, so I focused most of my buying on Trustee Sales. Others specialize in preforeclosures, probate, tax defaults, non-owner-occupied, etc. Do you have any thoughts on what type of deals fit your skills and interests best? As others have suggested you kind find a ton about each specialty here on BP. Most importantly, after having helped tens of thousands of investors with data and advice, I can confidently say that you just looking for "a deal" isn't enough - this business isn't a get rich quick scheme, there are no magic lists, no perfect letters, etc. But it isn't necessarily that hard to be successful either if you are willing to do the work.
If you really can't decide where to start, my recommendation is driving for dollars. Especially since you mention looking for deals in your neighborhood. Take a different route each night on the way home from work. Look for properties with deferred maintenance, that are abandoned, etc. Plus you'll be getting to know your neighborhood better which will increase your market knowledge, and give you a better shot at completing a successful deal.
Hope that helps,
Sean