My tech project for foreclosure auction investing.
I've been working on applying automation to real estate processes, specifically buying properties at county auctions. I started this project hoping i could efficiently review the most amount of properties in order to maximize the potential investment options to bid at auction....this is what I have so far.
First thing i did was to create the listings, I matched the properties been auctioned with their corresponding pics and the property specs (rooms, size, floors etc.).
Second, for each property I automated the data collection process from public records and created a report with: Foreclosure info, owner info, taxes data, liens including mortgages , satisfaction of mortgages, assigments, violations and permits and court dockets.This data is updated daily to capture new filings (specially the dockets to capture bk and motions to cancel sales)
Now that i have the data i can apply my personal "preferences" to go through the report and in a few minutes discard properties that have certain attributes I "dislike".
I.e judgment amount is considerably higher than the estimated value on a homestead property where the borrower is represented by an attorney, this sale will most likely be canceled.
A second position mortgage or hoa lien, i toss since it doesn't fit my 1st position rule. My goal when doing my first review is to catch mayor deficiencie to discard properties as fast as possible and spend as much as posible on my "good" candidates.
Let me know if you agree or disagree with my method any feed back is appreciated.
here the sample report: