This can be challenging if the buyer is emotionally distressed by the process. Plus, you can often get a chance to view or inspect the property before you purchase it, whereas with foreclosure you typically don’t have that option.īut, with a pre-foreclosure, you’ll often have to negotiate with the buyer directly, as opposed to an agent or auction house. Pre-foreclosures often give you more room to negotiate, because there isn’t as much competition from other buyers. But it depends on the situation and your investment strategy. Typically, buying a home that is in the preforeclosure process is favorable to buying a home that’s already been foreclosed upon. The best way to find the best deal possible is to develop a few different lead pipelines and keep your eyes and ears open for any opportunities that come your way. Lis Pendens – or notice of foreclosure – are often published in the legal section of the local newspaper. Plus, local newspapers are another good resource you can use to locate properties in the process of pre-foreclosure. Even just mentioning your real estate business to friends and colleagues in your personal network can be a good way to hear about preforeclosure properties before they are listed online. An additional way you can locate pre-foreclosure properties is to network with other real estate professionals in your area.Īside from wholesalers, real estate agents, attorneys, and mortgage brokers can be a good resource for finding homes in the process of pre-foreclosure. So it’s vital to get creative and develop your own unique strategy for finding pre-foreclosures and other potential properties. A big part of how you make your money as a real estate investor is your ability to bring in leads.

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