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Updated over 8 years ago on . Most recent reply
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Help Researching Forclosure
BP Colleagues -
I have a couple of single family rental properties in Tulsa, OK and am looking to grow my portfolio. Small now, but not forever.
Near one of my other properties, there is a home in foreclosure that has gone through the sheriff's auction and is now held by the lending institution, which happens to be a nation-wide mortgage broker. I've been watching it for a while. The property would be a great one to get into as I know the area and believe I could cash flow the property fairly easily. But I have no idea how to determine the best people to talk to. The property is not listed - and from peeking inside, I see no evidence that the mortgage broker - or any potential agent - has taken any steps at all to prepare the property for listing. (Still furniture and trash throughout the downstairs).
In this type of situation, any suggestions about who and how to reach out to the current owners? Are there any tricks of the trade that might get me an opportunity to bid on the property in advance of the house finally hitting the market?
Thanks,
Andrew