Now, the next thing to do is find the leads. You can buy them from a provider, such as the RedX, starting at $40 a month. They do a good job of finding and scrubbing the leads. You will also gain access to cell phone numbers, which will be helpful.
Pull Foreclosure Auctions First
Another source for foreclosure leads are auctions. Those will come from your local courthouse. This is a great resource, but it will take some time. You will have to search through the county website to find the leads. Try searching foreclosures or auctions on the website to make things easier. Depending on the county, you may be able to view the home details right online. Others, you may have to go into the courthouse for the information.
I would suggest calling your local courthouse to find out the details on how they handle their foreclosures. It won’t be easy to find these leads, but it is possible.
To start, I would begin with the auctions. Pull a list of people going to auction in 60 and 90 days, since they have a deadline. Their only option aside from foreclosure, is selling. The goal is to be the agent that plants the seed. The one that can get them some cash for their home.
You want to find the ones that aren’t upside down, or too cheap. You can stop by briefly, plant the seed, and let it grow. Be sure to give yourself time. You want to look at homes going to foreclosure auction about 60 days out or more, ideally. That gives you time to get it under contract before the auction.
An important step in this is getting the homeowners contact information. That requires a bit more research on your part. You can check the appraiser’s website, tax assessor, the RedX or an affordable source such as Intelius. Don’t spend all your time researching. Just make sure you get an idea of what the home might be worth, compared to how much they owe, find their info and reach out.
Once you have a list of leads, add them to your database to track everything that happens with them. A Google Sheet works, especially if you have a Virtual Assistant who works remotely. They can update everything in real time for you.