Pre-Forclosures & Building Deal Funnel

[Jon Jones]

Hi All-

Rookie investor from PA here. I am working on building my deal funnel and evaluating potential options (Sourcelist and direct mail, wholesalers, local REI groups, Facebook Groups, etc.). Since, pre-foreclosure properties seem to be an opportune source for potential deals, I subscribed to an MLS search site that provides property foreclosure/pre-foreclosure information. However, I am trying to determine how to best utilize this information to generate quality leads/deals.

Are investors contacting these property owners through direct mail/door knock? Or is there a catch to this process, why it might not be a great deal after all?  Additionally, is it best to utilize a title search company to determine what liens/debts exist on the property or are you completing research yourself, through the county recorders site for these pre-foreclosure properties?

Generally, just wondering how/if everyone is using this information to their advantage.

Thanks!