Property Radar / NOD & NTS

[Sean C.]

Hello everyone, I have two questions!

1) Has anyone used Property Radar? It seems to be a great lead generation tool to send out direct mail, I've used list source to create my leads but okay return. But on the other hand Property Radar is similar but a tad bit different (has forclosure/preforclosuer, nod, nts option and much more). From people who've had great experience using this resource what is the best way to create a good return on a mailing list? 

2) What exactly is NOD, and NTS? I've done a little research to it but a little confusing, are these people good to target to get motivation?

Thanks in advance everyone!

[Sean OToole]

@Sean C. - yes people in foreclosure can be motivated. In CA be sure you read civil code 1695. The state has some very specific requirements when you buy properties in foreclosure.

NOD's are the first notice filed to let the owners know foreclosure has started. NTS's are the second notice and set the auction date and time. The sale won't necessarily happen on that date, as unfortunately postponements are quite common. Some people try to hit owner up as soon as they get the NOD, others wait until the last minute as the owner if far more motivated once they realize their house is really going to sale. Best bet is to consistently reach out over the entire time period. Owners tend not to be very motivated right at first, but if you've developed a helpful relationship and have answered their questions over time, its more likely they'll turn to you if or when they decide to sell.

Between civil code 1695, owners being underwater, and owners realizing the bank will right them a check to move even if they are foreclosed on, "prebuying" foreclosures while still viable, is not as lucrative as it was years ago.