Wondering about Foreclosures and Cash for Keys...

[David Harley]

I was listening to a podcast, not sure if it were BiggerPockets? A father and son duo made a business out of handing foreclosure notices to homeowners just past the housing market collapse. What is this job called and how would I go about doing such a task? It seems you would be on the very front line of not only knowing what which properties were in default/foreclosure but would also see these properties first hand.

Also, (changing gears) I have been offered a position to search within the default list in my area and attempt to approach the owner(s) of these homes with the intent to do a Cash for Keys transaction. I would make a small commission on such transactions, adding another revenue stream to my portfolio as well as being given the opportunity to invest in said properties in the event of a flip. 

Has anyone had experience with either of these situations? Pit Falls and upsides/troubleshooting would be most appreciated. Thank You

- Newer Listener to the Pod (turned onto it by a friend who owns one quadplex) I have since gone back and listened to as many as my brain could stand. - Dave