In order to Locate Profitable Foreclosures, and finding them quickly, the first thing to do is to ascertain what knowledge you have of your market, your neighborhood, your schools, and your community. If you are a life- long resident of where you live, you already have a feel for what is happening locally. If not, do research about all the factors listed above.
There are ratings for schools, there are reports about crime statistics, valuations of properties are available in many communities on web sites, read the local newspapers, join a community action group where you live, in other words, anything and everything dealing with the area you want to invest and profit in, look it up!
This means of course that you absolutely need web access. High Speed if at all possible is a necessity because it can be frustrating waiting for dial up information to load up on your screen. You can of course follow the newspaper ads, but this is information usually too late for you to respond to, in order to purchase a home to flip or rent that you can get at the right price.
If you choose not to align yourself with a real estate professional, you have a number of choices of where to begin to find local homes that are undervalued and/or foreclosures. There are of course pay Web Sites, that seem to indicate that you can buy properties on their web site, but usually these homes are not yet ready for the market and you must wait for them to be listed by a Broker.
SO, look to sites like zillow.com, realtor.com, trulia.com ( to name a few) and your local Real Estate Board’s MLS to begin to not only search for properties but also to gauge what properties are listing and selling for, and the trends in areas where you are interested in investing. Many of these sites have automatic searches that are free and that allow the site to automatically email you NEW listings or PRICE CHANGES on listings for properties that you might be interested in.
If you are looking for Foreclosures and you are a First Time Home Buyer, what can you do?
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Inspecting a Bank Owned Foreclosure (Free Video)
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