Does anyone know how to access Preforeclosure Lists? Do the banks hand them out? Do you have to buy them from data services companies? Any suggestions would be appreciated. Thanks.
Vogue -- This may just be an urban legend, but.... my girlfriend told me a story the other day about a friend of hers who walked into the bank where he's banked for years and asked them if they had any property he could purchase from them right at that moment. Well, apparenlty someone failed to make good on a loan they'd taken out on a trailer park and they were preparing to foreclose on him. Long story short, the guy got the park for $20k, already having 18 trailers on it, each paying $350/mo rent for the land on which they stand. You can do the math, but looks to me like he got a pretty sweet deal!!! Now, I haven't tried this approach myself, but when I do, hell, won't I feel stupid for not having done it sooner!
The best are from fee-based companies who have their own people in the county court house doing the research.
Vogue -- This may just be an urban legend, but.... my girlfriend told me a story the other day about a friend of hers who walked into the bank where he's banked for years and asked them if they had any property he could purchase from them right at that moment. Well, apparenlty someone failed to make good on a loan they'd taken out on a trailer park and they were preparing to foreclose on him. Long story short, the guy got the park for $20k, already having 18 trailers on it, each paying $350/mo rent for the land on which they stand. You can do the math, but looks to me like he got a pretty sweet deal!!! Now, I haven't tried this approach myself, but when I do, hell, won't I feel stupid for not having done it sooner!