Finding Properties
im really interested in getting started. Iv been doing as much homework as possible and tink im almost ready. My last step befor i start is to acually track a current sale but i dont know where to find listings on sheriff sales,REO'S and foreclosures. Can somebody please help. The longer I wait the longer im loosing money. 
Start by calling the county sheriff's office and the county clerk's office.
The mortgage company has to send out a Notice of Default to the owner if they are going to foreclose. This notice is recorded in the Court Records which is good for you Just look up the Notices, get the legal description, and from there you can look up the property appraisal records and whatever else you need. Good Luck and Happy Investing!
~Kristin
Depends on what state you are in and the procedures in that state.
Research how your state handles foreclosures and go from there.
Quote:
On 2003-09-17 11:45, acjrII wrote:
im really interested in getting started. Iv been doing as much homework as possible and tink im almost ready. My last step befor i start is to acually track a current sale but i dont know where to find listings on sheriff sales,REO'S and foreclosures. Can somebody please help. The longer I wait the longer im loosing money. <IMG SRC="images/forum/smilies/icon_confused.gif">
sheriff sales and foreclosures - check with your county clerks office
REO's - check with banks and Realtors
However, if you want to get started..why not try birddogging first. Good Luck!!
I'm gonna share one of my most successful hints for good deals..
Ya ready?
Unadvertised properties!!
Examples of advertised properties include: REO's, agent listed, FSBO's, NOD's, etc!!
Examples of UNadvertised properties: vacant homes, condemned homes, preforeclosures w/o NOD filed yet, probate (before it hits probate court; track obit's), etc..
Some of your best deals will come from unadvertised properties in addition to having NO competition on a property!
Good luck with whatever you do or however you do it..
I started to take public transportation to work and you can't believe the number of properties I see that are For Sale By Owner, REO's and the such.
Ride the bus one day, take a notepad and pencil and scribble down every one you see for sale. Ride the bus roundtrip and get all the properties from both sides of the bus.
I personally, wouldn't live somewhere that a bus rides directly in front of my house, however, its a huge benefit for those without cars. Great rental selling point.
Good Luck.
I recently found the realty trac web site. It looks pretty good, but I haven't tried to use it so don't know if it has useful information. Perhaps someone who has used it could comment?
check out the USDA in your state( not the food stuff). do a search on google for this in regards to real estate..they are early published leads by subscription only, before they go public..where im from they are considered shorts sales, not in the traditional way i have learned from this board..but basically you can get from 15-35 percent discount on an informal offer..hope this helps..
regards-pat
I tried the Realty Track web sit... everything I found was pretty old. Fortunately I used the 7 day trial version. Give it a try, I think you will have the same results. I am looking into DATA QUICK.
Happy Thanksgiving
I have tried Dataquick, the info there also seems good, but I don't know that you can search for foreclosures/REOs etc. It is also pretty expensive.
It is all public, so unless you are really too busy to visit the courthouse (or need info from faraway courhouses) I am not sure it is worth it. If you work with a realtor you should be able to get comps from them.
They also offer a free trial, so no harm in taking a look.
This question is for cky investor? or any other investor who can help me... I have heard a couple investors mention that you do better when you find properties that are not advertised. Where how do I get a hold of the properties on a consistent basis if they are not advertised. Someone please help.
hi soul_controller
drive your taget area and search for vacant, run down and FSBO houses..another way, check obituaries, and bankruptcy filings..get mailers out to your target area, getting them to call you..get an ad in your local paper describing what you can do for them..contact landlords and property managers for tired landlords..also, get a team together to work for you, such as, a realtor for expired listings, a good mortgage broker, befriend a contact at a title and escrow service and at your local recorders office..this last one may be reaching, but, in your target area hire someone out to research low interest ARM loans that are maturing and blanket mail them..this would work well as interest goes up consistently..these are all basically un-advertised leads..hope this helps out a little..im sure others have more ideas..
regards-pat