Pre-foreclosure outreach means reaching homeowners who have fallen behind on their mortgage, after a notice of default but before the auction, and buying their property before they lose it, then profiting by reselling or renting it.
Log in to followI priced out three ways to get notice-of-default leads in the two counties I can drive and the spread is bigger than I expected. Paid platform with daily pulls: about 129 a month,…
Put money behind an operator on a pre-foreclosure in a state I hadn't worked before. Owner about six weeks from a trustee sale, payoff around 214k with 11k of arrears, agreed pric…
Standing rule in most of the training I've read is that you never reference how you found the owner and you never put their foreclosure in the first line. Lead with help, let them…
Construction side here, so I'm used to reading plans and not county records. I've been told the pre-foreclosure list is really just the notice of default filings, but a guy at a m…
An operator I've done two small bridge loans with sent this over last night and wants the whole stack. Single family, 1,450 square feet, built 1978, second ring suburb of a Sun Be…
A purchase agreement someone shared for a pre-foreclosure buy has been sitting on my desk, and I've read enough paperwork to know when something snags. It has the buyer selecting…
I manage about 60 single family doors. One of my owner clients stopped paying the mortgage on a rental I collect rent for, which I found out about when the notice of default hit t…
NOD recorded in a non-judicial state, auction 27 days out when the owner signed with me. Payoff came back at 187,400 including 14,200 of arrears and trustee fees. I agreed to 241k…
Working on getting licensed and I want to understand this from the ground up before I ever try it. Everything I read says lead with empathy and never mention how you found them. B…
Sitting on a JV pitch from a two person outfit that works notice-of-default lists in three counties. They want me to fund the acquisition capital and, separately, a quarter of out…
For anyone new: a notice of default is the document a lender or trustee records at the county when a borrower is far enough behind for foreclosure to start. It's public. That's ho…
Two counties, roughly 310 new default filings a month between them. I pulled the last 90 days to see what a real campaign would cost me. Five touches at about 1.10 a piece is 5.50…
I'm taking my time on this first purchase and trying to think a year out rather than about one house. The reported first-quarter numbers have foreclosure starts up 20 percent year…
I wanted income without a second job, so pre-foreclosure was the last thing I expected to end up doing. What changed my mind was realizing I only needed one. For anyone new, a not…
Sat with an owner at 27 days to the sale, motivated, no hostility, and I had a one page purchase agreement in the folder with a ten day diligence out. I didn't pull it out. Went h…
I do fast flips with thin margins and I want to add this as a lead source, but every course I look at wants four figures before I've seen a single address. What's the real cost of…
I pay 40 dollars a month for a tool that emails me new notice-of-default filings in four rural counties I grew up around. Last month it sent 11 names. Most are houses in the 70 to…
I pulled 14 notice-of-default leads in one county over five weeks and ran every one twice, once to a rent number and once to a resale number. On rents, at a 7.9 percent gross yiel…
Small town, population under 4,000, three bed one bath at 1,180 square feet on 1.4 acres. Judicial state, so the notice had been filed 14 months before there was a sale date on th…
Just started, so I'm probably about to get corrected, but I've been running numbers on published notices as practice deals and the pattern is ugly. Take one: ARV around 320k after…