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Learn proven and powerful ways to grow your pre-foreclosure list with this real estate investing guide.
We’re on the hunt!
So, whether you’re just starting out or have been building experience for years as a real estate investor, REI is as close as you can get to treasure hunting in a city — with pre-foreclosure lists as your coveted maps to hidden treasures.
See, unlike the overwhelmingly negative feelings that accompany the term ‘foreclosure,’ pre-foreclosures offer a gleam of hope for both distressed homeowners and eagle-eyed investors.
With the right pre-foreclosure list, you’re not just spotting a house; you’re discovering a potential haven of profit, a cornerstone for a beneficial deal for you AND the homeowner, and a stepping stone to further investment victories.
The most important thing you can do at this stage is to scour pre-foreclosure listings, or otherwise arm yourself with as much information as you can get about where to find your next pre-foreclosure deal 1 and that’s what we’re here to help with.
Strap in as we dig into what pre-foreclosures are, how you can find a current pre-foreclosure list, and even some tips for talking your way into buying pre-foreclosure lists.
Pre-foreclosures and foreclosures are 2 distinct territories.
A pre-foreclosure is the period following a homeowner’s default on their mortgage (too many missed payments), but before the bank reclaims the property. It’s a time of limbo, where the right intervention can prevent a full foreclosure.
On the flip side, a foreclosure happens when the bank has officially taken over the property, erasing the chance for negotiation between the homeowner and potential buyers. Pre-foreclosure lists grant investors the golden opportunity to swoop in, engage with the homeowner, and craft a deal that could save the day.
Unlike foreclosures, where the bank is your negotiating counterpart, pre-foreclosures allow for more personal interaction and a chance to forge a win-win scenario amidst looming financial peril.
Ah, the whimsical world of wholesaling!
Wholesaling pre-foreclosures is,, indeed a path heavy with potential profit. It’s a strategy where you, the investor, secure a contract with a homeowner during the pre-foreclosure phase, then pass the baton (or in this case, the contract) to another end-buyer investor for a fee.
That said, with a little diligence and some basic negotiation skills, wholesaling pre-foreclosures can be a rewarding venture, opening doors to more deals and establishing fruitful connections in the real estate sector. Plus, you help out a struggling homeowner.
Not to mention keeping you in the black while scouting for the next opportunity. Hooray!
This is what you really want to know, right?
So, finding out where to get an illustrious pre-foreclosure list is why you’re here, so let’s cut to the chase…
The first thing you need to do is acquire a reliable, current pre-foreclosure list. Here are some places to start your search:
Now that you’ve got your pre-foreclosure list, it’s time to get to work on your pre-foreclosure wholesale deals. Here are the basic steps of the process, and how you make it from first contact to the closing table.
Starting a conversation with a potential pre-foreclosure seller can be incredibly intimidating, and it can involve a lot of nuance. It’s like a delicate dance that requires empathy, clarity, and follow-through to be successful.
Here are some smart tips to help you make your interactions meaningful and fruitful:
Real estate investing — and the pre-foreclosure investment journey, in particular, is a venture packed with potentially lucrative rewards…
By hunting down a reliable pre-foreclosure list, a dash of negotiation savvy, and some empathy, you’ll be well on your way to finding your next profitable pre-foreclosure deal.
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