Chicago, IL · Member since 2016 · 88 posts · 29 votes
Hello,
I have recently read a lot about Pre-foreclosure investing and 'Subject to' deals. I would like to buy houses under this strategy but not sure where to start.
I am currently working on my marketing plan and designing my postcard campaign. Although I have read and watched all educational books/videos to really understand how it works, I am not very confident about it.
Some of my doubts/questions : 1. Where can i get list of houses who have received 'Notice of Lis Pendens' ? 2. What can I do to make sure that I get all documents/disclosures properly signed ? 3. Can anyone here help me understand this strategy and walk me through the process ? 4. Any advice on practicing and improving my cold calling skills ?
I will be really happy to devote my time and energy with anyone who can help me learn this.
1. Where can i get list of houses who have received 'Notice of Lis Pendens' ? Title office/real estate data subscription websites/Public Truestee website etc. 2. What can I do to make sure that I get all documents/disclosures properly signed ? use a title company or real estate attorney for closing 3. Can anyone here help me understand this strategy and walk me through the process ? NO, not for free. 4. Any advice on practicing and improving my cold calling skills ? try door knocking in person. you get to see the property and find out if its vacant etc.
@Abhijeet Parihar hey man I’m just curious if you proceeded with this? If so, how’d it go?
Hey Austin
Well I was able to buy a property 'Subject To' existing financing in almost 3-4 months of persistent efforts. It takes a lot of ground work but the reward is definitely worth it.
It may not be a very good strategy for a beginner like myself but again after going through the complicated process of acquiring first property you may not want to buy any other way.
1. Where can i get list of houses who have received 'Notice of Lis Pendens' ? Title office/real estate data subscription websites/Public Truestee website etc. 2. What can I do to make sure that I get all documents/disclosures properly signed ? use a title company or real estate attorney for closing 3. Can anyone here help me understand this strategy and walk me through the process ? NO, not for free. 4. Any advice on practicing and improving my cold calling skills ? try door knocking in person. you get to see the property and find out if its vacant etc.
Here are my answers: 1. Most Counties maintain a database with such properties. Research well and ask local real estate club members. 2. Hire a good attorney who can help you throughout the process. Do not settle on average, please ! 3. Read this book: How to invest in RealEstate without Banks by Marko Rubel Attend one of his RE meeting if you can (nothing is really free) 4. Read: Way of the Wolf Fanatical Prospecting, and others