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Updated over 9 years ago,
pre forclosures
Hello I am trying to get into the real estate investing market and am looking for my first property. I felt that looking for pre forclosures would offer up great opportunities to get properties for much lower than other methods. However each time I find a property listed as "pre forclosure" its status is Lis pendens. What does this mean? Can I make offers on these homes and is it worth it? Or are there other means of locating preforclosures? Since I am new to this, I do not have any money to throw around, so I am wanting to use some methods that dont require any money out of pocket such as double escrow. I have sent out several emails to local real estate agents/brokers looking for a buyers broker to help me locate potential properties, negotiate price for me and then resell. I had one agent return my email stating she was interested and wanted more info, but no one else has responded. Any tips? Thanks, Beau