Where have you found most of your foreclosure deals

[Marco Morkous]

What are your favorite sources for finding the freshest and best foreclosure deals?

[Andy Mirza]

@Marco Morkous Hands down, Propertyradar.com was the best tool I used to buy foreclosures but they only cover CA, OR, NV, and AZ.

In CA, winning bidders at trustee sales had to use cashier's checks to pay the winning bid immediately after winning the auction. One auctioneer I knew, wouldn't stop the bidding until he had at least one signed cashier's check placed in his hand. I suppose cash would be accepted as well but I never saw anyone do that and think it would be problematic and time consuming for all.

In practice, all competitive bidders carried cashier's checks in varying amounts made out to themselves. Upon winning the auction, you'd endorse the check and sign it over to the trustee. He or she would give you your receipt and you'd get the trustee's deed fedexed to you within two weeks.