| Right now with distressed homeowners unable to | | | | documents. |
| make mortgage payments at record volumes, the | | | | You can contact mortgage brokers who may give |
| opportunity to make money buying preforeclosure | | | | you some leads as well. |
| homes at deep discounts is very real. | | | | There is an easier, more efficient way however... |
| However, before you approach any homeowner that's | | | | The best and easiest way I've found to get qualified |
| in pre foreclosure you better make sure you qualify | | | | leads is to use an online foreclosure service ( free) |
| every lead before you make any calls or knock on | | | | that specializes in pre foreclosure houses. |
| any doors. | | | | Getting your hands on this list will be the difference |
| Qualified leads are homeowners with enough equity | | | | between Your success and failure simply because |
| (at least 40%) in there homes to make the deal win - | | | | generating qualified leads on a weekly basis is the only |
| win for you the investor and the distressed | | | | way to locate and contact qualified pre foreclosure |
| homeowner as well. Equity is the difference between | | | | owners. Putting in 20 minutes a day to find new leads |
| the after-market value and what is owed on the loan. | | | | is really all I do to continually find good qualified leads, |
| Without knowing the equity of the homeowner, you're | | | | leads with at least 40% equity. |
| wasting your time. | | | | The profit you make when buying and selling |
| 40% allows enough cushion for repair, holding costs as | | | | preforclosure properties is based on a series of small |
| well as some cash for the owner at closing. So where | | | | steps executed thoroughly, in order. |
| do you find "qualified pre foreclosure leads"? | | | | Qualifying your leads is probably THE most important |
| You can visit the county clerk and plow through tons | | | | step in the process |
| of documents, as NOD and Lis pendens are public | | | | Using the best foreclosure list will insure you choose |
| record. Be prepared to spend hours looking thru | | | | only the best leads. |