HOW DO YOU FIND FORECLOSED PROPERTIES? or ??

[Karen Margrave]

I know someone that does transitional housing for women. She has a contract for beds with the County she's in. Rather than renting space, she's considering trying to JV or Purchase foreclosures to use. What is the best way to find foreclosed homes? I know NOTHING about that niche, just trying to help someone else out.

Foreclosure, REO's, Short Sale, what's the pros and cons of each? Is there a good site for finding foreclosed properties or just go to each banks site ?? THANK YOU!!

[Hattie Dizmond]

REO's are generally listed with a broker, but you can find the properties on the bank's site.

Foreclosures...I believe CA is a judicial foreclosure state, so NOD's have to be filed with the county. That's the best way to get out ahead of the actual foreclosure. The further out in front of the actual foreclosure you can get the better, to avoid the auction process driving up prices.

Short Sales...could be an option, but they are a lot of work to get everything approved by the banks, who are simply not very cooperative at times, and the process can drag out for a year, easy.