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Foreclosure Listing Tracker

Foreclosure Video Foreclosure Video

When people want to get started buying foreclosures there are literally hundreds of different answers on how to get started. Some people say that they should sign up for a monthly foreclosure service. Others say to check the HUD website and the asset management websites directly. Others say never to buy listed properties because there is too much competition. Some say buy at sheriff’s sales and auctions, while others say never to buy at sheriff’s sales.

How can we sort through all these messages and know what to do?

I think that many of the above ideas are good, but the problem is in sorting through all the data to figure out which foreclosures are good deals and which are not. The problem with signing up for services that sell addresses of foreclosures is that most sites contain only 20% of the listings, and many of those listings are out of date. By tracking the bank’s sites directly, there are too many different places to go to find the information, and much of that information is not up to date as well?

Where can we go to find all (or nearly all) of the foreclosures and vacant properties on the market? The easy answer is to find them in the MLS. But the only way to quickly and easily sort through that data is to set yourself up to receive an email when the properties match the criteria you are looking for. This sounds difficult, but it really is quite painless. Here is how it works. If you are a realtor, do the following. If you are not a realtor, send this email to a real estate agent whom you know.

Hi______, I would like you to set me up on an MLS flash (or you might call it an auto notification). Please set it up to email me every time a property is located in ________
(fill in your location requirements- If you can highlight a map for them and have them use a map search it is better). Under remarks, please select that you want it to contain each of the following words by separating them with a comma: Addendums, bank owned, foreclosure, as is, vacant.

Please set it up to go to my email address _________.

Thanks very much for your time and I will keep you in mind for future business!

Once you are setup with this flash, you will begin to receive about 90% (maybe more) of the foreclosures in your market area. Most of these will not be good deals right away, but the key is to track these properties in a more sophisticated manner than any other investors in your area. The key is that you receive the emails instantly when they hit the market. It is also free to receive an MLS flash from an agent. Most agents will want to do this because it is a free form of advertising from them to you. To see the system that we use for tracking foreclosures, watch this video. You can have a huge leg up on your competition!

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