Forclosures before auction?

[Brian McCombs]

Hello BP community! I am wanting to know if there are any investors out there that have purchased forclosures that have been listed as going to auction prior to the actual auction? Is it possible to negoiate and win deals in this scenario and what are the steps needed to take legally? Looking for some mentorship here on this one!

-Brian

[Mitch Messer]

Originally posted by @Zack Kosenka:

@Brian McCombs and @Mitch Messer I thought of the same strategy in Indiana. Found the county preforeclosure list, wrote up some letters, and dropped them off in the mailbox. The issue I ran into is that most of the homes were already vacant. Kind of thinking to switch to phone calls. What worked best for you, Mitch?

Those vacant properties are GOLD, because the owners have already moved on, both literally and emotionally! Clearly, they didn't need the equity (if any) in their home to find somewhere else to live. The property has officially shifted from being an asset for them to being a huge liability.

Yes, this is where you skip-trace the owners and have "the Conversation" about their plans for the property. Many an awesome subject-to or seller financed deal has come from talks just like this!