How do you find a distressed sellers list?

Question

Basically I am trying to learn from square one.  How do you go about finding a distressed sellers list?  Thanks

Scott S. · Answer

Sounds good guys.  If I am going to look for the foreclosure list or notice of default list then where would I go to look for that?
What county office?  Collector?  
Any good online sources?

Steve Babiak · Answer

Don't overlook the links given in the "Related Discussions" section at the bottom of the page.

Rick H. · Answer

Scott S. - You've just been given a 'short list of lists' and the amount of info available on any one of these lists will probably astound you!  I suggest that you start with one--yes, just one list.

When I started, the first list that I worked was the foreclosure list.  In CA, many people would pull the Notice of Default information from newspapers that publish legal notices, called adjudicated publishers.  This is just one of the the telltale signs of a financially distressed property owner who might be willing to sell at a discount, or on favorable terms.

As time went by (1978), commercial list compilers began selling this info, initially as daily or semi-weekly paper lists by subscription, then online via a BBS system, then competing providers and now, most of CA defaults can be accessed via ForeclosureRadar.com for a low monthly price.

Each of the lists the Jon Holdman references could require it's own separate data sources and maybe even specialized knowledge to work effectively.  If you do start with one list initially, you'll avoid the some of the info overload that hits most folks new to real estate investing.

Scott S. · Answer

Thanks Jon,
Do you know what kind of service you can use to find those types of lists?  I am going to have to look into quite a few counties to be able to find some deals.

Jon Holdman · Answer

The one folks commonly use is the foreclosure list.  Those come from the county.  They're based on the foreclosure filings.  Sometimes you can get them directly, sometimes its easier to use some service.  We have a local service that collects the data and sells it to investors, but its just the counties along the front range.

There are many other lists people use:
1) Building code violations
2) Fires
3) Probate
4) 30-60-90 day late payments
5) out of state or out of area owners
6) Long time owners
and many others