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Updated about 4 years ago,
Buying pre-selected notes to local properties in foreclosure
I am an investor in distressed homes, mainly pre-foreclosures. Long story short...it has become quite a headache dealing with both the home owners through the entire short sale process and then the rehab of the homes. Which is why lately I have been researching note investing.
I have already located and and am in contact with almost all distressed home owners in my county. I have details of all of their mortgage notes, history etc. I have contacted and have good relations with all the prominent foreclosure attorneys as well.
My question is:
Is there any way I can use these tools already in the box to give myself a head start in note investing? I know standardly banks do not sell off one or two notes at a time. But if I had connections both with the property owners and the respective foreclosing attorneys and thus also had access to each individual property's assigned asset manager, could deals be made through that avenue?
Considering they have a buyer come to their doorstep with seller and foreclosing attorney on board, willing to pay for a non performing note, could it sway lenders to sell?
Any answers/comments/advice is appreciated.
Aloha from Hawaii