Pre-foreclosures on zillow?

[Thomas Poloncarz Jr]

Im new to investing and im interested in wholesaling, what are some ways to locate pre-foreclosures? So i go into zillow pre-foreclosures and get the results for my area. What are some of the characteristics of the pre-foreclosure listing that im looking for and is Zillow a good place to even find good deals, if not where may be a good place to find good deals.

Thanks for any input 

[Melissa Kirchhoff]

@Thomas Poloncarz Jr - I'm thinking by now everyone will know my hate for Zillow. I especially hate the pre-foreclosure, mostly because I get *so many* buyers asking me when they can go see the property. First, it's not foreclosed on. So no, you can't go see it. Second, it's possible (though yes, unlikely) for the people to work something out with the bank and avoid foreclosure. Third, from that notice of late payments to the actual foreclosure will change from state to state, but here, it can be at LEAST a year. Typically, way longer. Banks seem to sit on them for a while before listing and it can be many years. So to me, this isn't really a helpful feature. Sorry, I don't mean to unleash my Zillow related wrath on you Thomas, I just have very *ahem* strong feelings about Zillow...

Try Netronline - they will email you things usually before/same time as it hitting the MLS. It will be one of those "pay to see address" or such, but usually if you cross that with a third party site - like redfin or realtor, not Zillow ;-) - then you can find it, or keep your eyes open and know something is coming in a day or two.

Also either:

1.) Set up a search on those above sites. I use Redfin the most, though I probably shouldn't admit that, and I *LOVE* it! You can get push notifications on your phone and/or emails. I draw the search in certain neighborhoods and set certain criteria (price, bed/bath, etc) and it will let you know when something that fits those criteria goes live. It's a great way to stay on top of the market!

2.) Create a relationship with a local agent. Let them know what you're looking for and have them set you up on an automatic search. It will function the same way, but sometimes you'll get an upper hand because the listing has to go into the MLS first before it drips into the 3rd party sites. In the past, this was a day or two, now, it's a few hours tops usually, but still gives you an upper hand. The other benefit of this is you don't have to worry about creating the relationship later, and, if you leave a good impression, that person will be asking around and talking, and maybe get you into something great before it even goes live!

Goodluck!