San Jose, CA · Member since 2008 · 137 posts · 2 votes
Team
I am checked out REALTYTRAC (just a glimpse of it) and it appears to be giving some GREAT details if I sign up for only Trial. But I wanted to check if anyone in our BP has used it and found useful. How much do they charge for subscription though? Any luck with investing using this information?, etc. are my questions. Request some expert comments, please.
Here is what I like about realty trac. There data is good for research. It seems to be one of the most quoted information in regards to statistics in the nation in regards to foreclosure information.
Now the data for mining for deals. Move to the court house and get your information daily. I try to visit my court houses daily. Sometimes the people get my post card before they are actually served.
Hey Eric
Thanks much for that. I was almost ready to spend that $50.00 a month on this website despite getting automated emails from one of the title companies - I thought this offers more information than them... I see what you are saying.
Thanks much, again. Sorry for the delaaaaaaaaaaayed reply!! :-)
I agree with the title company. I find HUD auctions to be pretty good as well. Try driving through neighborhoods. You never know; I found some of my best leads using this strategy. The point is, do not limit your tactics in finding properties to just one source. Use as many as you possibly can (just make sure they're a legitimate company) because what one source might have the other might not. Best of luck. 8)
Save your money like everyone else says. Remember the more that a so called "deal" is advertised the more people know about it and the less likely it is to be a deal.
The best deals are found by prospecting and direct mail because you are going to straight to the homeowner and have very little competition.
I was a member for a limited amount of time a year or so ago, but used it very little due to other circumstances at that time that diverted my attention from my original intentions for being there.
What I have read in posts from others who are far more experienced than me agrees with what everyone is saying here -- the information is too old and largely distributed to be of any real use, and title co's are the way to go for up to the minute and accurate information.
All those of you saying "title company" -- any suggestions on how to find out who to start building the relationship with and any pointers on making the situation a win-win for both of us?
The best deals are found by prospecting and direct mail because you are going straight to the homeowner and have very little competition.
What is the best source/method for obtaining homeowners' information in order to target the prospecting and direct mail at owners who are at an early stage in the process?
All those of you saying "title company" -- any suggestions on how to find out who to start building the relationship with and any pointers on making the situation a win-win for both of us?
Trant
You can call any Title Company, tell them that you are an investor in ABC area/city and that you would like to be part of their eMail Distribution list to receive the REOs, NOTs and NODs. Remember, the more people in their dist. list, the more business for the title company so they are not going to say NO.
Originally posted by pabizman":
What is the best source/method for obtaining homeowners' information in order to target the prospecting and direct mail at owners who are at an early stage in the process?
To target homeowners, the above strategy will help and apart from that, if you have a real estate agent friend talk to him and have him send MLS entries that older than 30 days or so. This will target Homeowners (motivated sellers) who would like to sell their home ASAP.
Here is what I like about realty trac. There data is good for research. It seems to be one of the most quoted information in regards to statistics in the nation in regards to foreclosure information.
Now the data for mining for deals. Move to the court house and get your information daily. I try to visit my court houses daily. Sometimes the people get my post card before they are actually served.
In my opinion all of the "Online Foreclosure" sites are somewhat scams. They do provide real info, that is useful, but the way they make you sign up for monthly services where they automatically charge your credit card is not very ethical.
I am just wondering why you would contact the Title company and not the Law Firm that handles the foreclosure. Is it a state by state issue? Since in Arkansas almost all foreclosures are done by an attorney, the Title company wouldn't be involved until after it was all over would they? Sorry if this seems like a dumb question, but I'm new here and haven't bought any foreclosures yet. By the way when I was signed up for Realtytrac, I found most of their data was old and never updated and a waste of my time.
I am just wondering why you would contact the Title company and not the Law Firm that handles the foreclosure. Is it a state by state issue? Since in Arkansas almost all foreclosures are done by an attorney, the Title company wouldn't be involved until after it was all over would they? ...
In the judicial states, the law firms representing the foreclosing lender are, in a sense, debt collection operations; as such, they have rules to follow about what they can disclose.
However, the reason that the original poster is not contacting the law firms is: He appears to be trying find the property owners so as to contact owners early in the foreclosure process. Unlikely he would be told that by the law firms directly. But if he knows how to look up the filings at the courthouse made by those law firms that are known to specialize in foreclosures ...
Not sure if there is a law firm involved in non-judicial states; my guess is there isn't.