pre-foreclosures

You really need to move quickly when it is in pre-foreclosure as the competition starts at this stage and the property can often sell very quickly if a buyer is on the ball.
Talking to the owner is the best way to start your research so start there but do lots of other research to back up anything the owner tells you, and find out how the property stands in regard to liens and such.

Have you read the book 'Be a Real Estate Millionaire'?
That is definitely the best way to start as Dean tells you everything to look for and all the questions to ask in pre-foreclosure.

yup yup.i have read the book,just waiting for it to sink in to be able to use.if that sound right..ty for thr input...

i have found 10 pre foreclosures with then 1 mile of each other and 7 on one road... can u give me a reason why their would be that many in one place...

I would look into that, is it all with the same lender? Let us know what you find out.

If the subdivision is newly constructed, sometimes new builders may offer financing thru a particular lender. If that lender is offering those deals that are too good to be true with ARMs, Interest Only, or Balloon payments and the market crashes, it is very easy to become upside down in the property.

to answer your question smilingchicken i would try to get a hold of the homeowners first, by sending a mass mailer or advertise in your local newspaper, maybe to homeowners that are in pre-foreclosure, then get the pertinent info. you need to deciede if you have something or nothing(basically whether to proceed forward or not) then do your due diligence on the property