Finding homes BEFORE they go into foreclosure - Posted by MicheleG

Posted by John on July 05, 2004 at 16:30:35:

There are many ways to do this…

Here is one thought… mail postcards to everyone in a zip code, prescreen them on the phone and work with only those that fit your criteria.

Or, you could narrow down your mail list somewhat… something like mail to people who have been listed for 5 months or something like that.

Finding homes BEFORE they go into foreclosure - Posted by MicheleG

Posted by MicheleG on July 05, 2004 at 16:00:18:

Hi all,

I’m new to the REI scene. My husband and a friend just bought their first rehab home in February. They paid just under $100K, sold it for $145K! Between the two of them, they made about 45K! YIPEE!!!

My hubby wants me to try to learn more about REI as he’s learning, so that perhaps we can do this venture together. I’m an accountant, but a stay-at-home-mom right now. I really don’t like accounting all that well, but I think I could really get into the RE scene. So, I’m very new to all of this…

Here’s my question…

On our last home, my husband and his partner found this home through a gentleman from a local REI club. They happened to be able to get this home, BEFORE it went into foreclosure. This gentleman acted as a broker of sorts, and made about $5K on the deal. I guess he “flipped” the property, to my hubby and his partner…?

Anyhow, where/how do we go about finding these types of homes? I know there are usually listings in the RE section of local newspapers, but we’re trying to find them BEFORE they go into foreclosure…

Any helpful tips?

I’m really excited about this website… I’m learning TONS already!


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Re: Finding homes BEFORE they go into foreclosure - Posted by LeAnne - WA

Posted by LeAnne - WA on July 05, 2004 at 23:29:00:


Your county records department is a good place to look. Where I live, there’s about 90 days from the time the Notice of Trustees Sale is filed at the courthouse until the actual auction. A lot of counties have online records these days, too, which is very simple and convenient! (Something you can do at home while the kids are playing or taking naps!)