Foreclosure Investing

There are essentially three steps to foreclosure investing. Note that a default does not necessary lead to foreclosure. Lenders try to avoid foreclosing on homes if they have other options. Real estate investors may provide both the lender and the homeowner with that option. Below are the three steps in foreclosure investing outlined and explained.

The steps can be broken down as follows:

Step 1: Finding foreclosures (see below)

You want to use every resource you have to find foreclosures and get in as early as possible. Foreclosure listings can be found in:

• Legal newspapers

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• Legal notices section in your local newspapers

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• Real estate agents and real estate brokers, title companies, closing attorneys, and other industry professionals may know about real estate properties undergoing foreclosures

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• County recorder's office and other public information sources. You want to search for liens, back taxes, civil suits, lis pendens filings, etc.

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• The Internet (such as online court records)

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• Auctions

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