Things You'll Need:
- Local Sunday paper
- Highlighter
- Car
- Internet Access
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Step 1
Check the newspaper.Read the Sunday classifieds and take note of properties that are "for sale by owner (FSBO)," "reduced for a quick sale," "motivated seller" or "desperate to move." Also highlight properties that offer owner financing. Not all of these homeowners will actually be facing foreclosure, but this is a good way to start filtering through likely properties and contacting a targeted group of leads.
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Step 2
This house has an unmowed, overgrown lawn and appears vacant. This is a good indication that it may be in some stage of foreclosure.Drive through local neighborhoods. Keep an eye out for lawns that are uncut or unkempt, houses with peeling paint and homes that appear to be uninhabited or in general disrepair. These are all signs that a homeowner has lost interest or the ability to maintain a property.
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Step 3
Sign up for notifying emails.Many real estate investors will find and evaluate the deals on houses in foreclosure for you in exchange for a small cut of the profits when you close a deal. Most of these investors keep lists of contacts that they email when they come across a good deal. Do a search online for "real estate email list" and sign up for foreclosure notifications from investors.
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Step 4
You can post this type of sign locally to solicit information.Promote yourself. Take out an ad in the local paper, start a postcard campaign or advertise online so that homeowners facing foreclosure can find you when they need someone to help them with their situation. If you make yourself available, houses in foreclosure will actually find you!
Comments
Ladybugblue said
on 8/7/2008 Thanks for the good advice!