Pre-Foreclosure Wholesale Marketing (HELP!)

[David Kilgore]

I am a beginning wholesaler and was wanting to begin my marketing campaign to owners of pre-foreclosure properties. As I was doing my research on properties in my area I have found a common name in the trustee section of the properties info. I further researched the name and found that it was a law firm representing the homeowner throughout the foreclosure. I thought to myself if this law firm is getting all of these homeowners business, why not ask the law firm to provide me with leads? I would of course provide some type of payment to the firm. I was just wondering if anyone has experience with going to lawyers or firms that deal with foreclosure cases for their leads?

[Christopher Phillips]

David Kilgore

Trustees are too busy to do anything.

Maybe, over time, you can build a relationship with them.

Owner information is in the public record. There are lots of threads here on BP on how to obtain contact info.

First, tax assessor will have the names of the individual owners. Also, most county clerks these days have records online to search for mortgages and liens and judgements.

Once you have name and address, there are many tools online (free and paid services) to look up a phone number.

You also have to read up on the particular foreclosure rules for trust deeds of each state.

Some states like Texas, a house can be auctioned off within 3 weeks of public notice.

Other states give owners a slightly longer period of time to try and work something out.

If the owner has a mortgage instead of a trust deed, it goes through the judicial system and takes much longer to foreclose.

So, you have to understand the process and how much time you have to work with.