All Forum Posts by: Drew Heilig

Thanks for your reply Steven, that's what I was getting at--I don't want to waste someone's time for a measly commission. But, at the same time, I was wondering if there might be a certain type of realtor that specializes in taking on investor clients...my old realtor is certainly not one of those. I was up front with her about my intentions, but after seeing what's available I am thinking writing multiple offers in hopes that one eventually sticks is the only real way to generate profitable investments in this area.

@Mike B., or anyone willing to answer: if using a realtor to make offers on properties, do you find that it takes a certain type to be willing to write so many offers for you? In other words, how willing is the typical realtor going to be to make multiple low-ball offers on distressed properties on your behalf?

I've been looking at select properties in my area for a possible buy and hold situation for rental. I called a realtor I used in the past to sell my primary residence, but I get the sense that she's not the type to use for an investment hunt.

And I am a Lake County future investor as well, so I guess I'll piggy back the introduction.

Thanks for any replies.

So Eric, how do you buy in DuPage then? Any of these purchases would be sight unseen, no? At least the exterior. Would the strategy of looking at the upcoming auctions, and then physically eyeballing properties to see what condition they are in from the outside before the actual auction date be viable? Are they perhaps sometimes vacant prior to the auction, so you'd know there would be no immediate risk of occupants trashing the place after you've bought it?

I appreciate any insight you may have. I have a local property I'm interested in, but it would be my first investment. Looking at a buy & hold for rental at this time, but future flips interest me if I can get my head around things.

Thanks for the replies.

I feel a little sheepish, because I found my answer on the site's FAQ page shortly after posting the above.

So, with 90% of the homes returning to the lender, is the next step simply to try to go directly to the lender? I've read that a proactive measure people take is to contact the asset managers at local banks, which makes sense, but from what I see the bulk of the lenders are the large, national banks. Are the big websites listed here on biggerpockets for those various lenders the only real avenue to find foreclosures before they hit the MLS?

Hi all,

I recently discovered biggerpockets.com and have been tearing through the web site reading anything and everything--what an amazing resource. I'm not an investor at this point, but I've been thinking of taking the plunge lately and have even contacted a realtor I know to tour some local listings (sfr's). I'm seeing a few properties that I think are decent buys, but nothing that knocks my socks off.

I have now begun looking through my county sheriff's web page to investigate foreclosure auctions and recent sales, but I'm a bit confused as to what I'm finding. The county conducts auctions every Tuesday and Thursday, and as I look back at last week's results, I see nearly every listing as the plaintiff bid and the winning bid being the same...in other words, someone is just buying the property at the price listed by the plaintiff (bank). When I then look up these properties, I'm not really seeing many that are 'deals' at all...in fact, most of them are selling for the average prices in their respective neighborhoods. Moreover, every single property has a sold price, implying that they ALL sold at the minimum of the bank's initial price (and a few went higher). How is this possible?

If anyone has some experience with this process, please explain if you don't mind. If it clarifies things, here is the link: http://apps01.lakecountyil.gov/sheriff/foreclosure/Default.aspx

Thanks in advance for any help.

Drew