Five More Places to Look for Pre Foreclosure Deals

While you’re probably aware that pre foreclosure investing is a great way to profit from real estate, you may be finding it hard to come up with ways to find those pre foreclosure homes that others haven’t already thought of. Here are some unique ideas for being the first to find out about potential pre foreclosure investments.

Build your army of pre foreclosure headhunters. Make it widely known to everyone you come into contact with that you buy pre foreclosure homes (you’ll probably have to educate them a little about what to look for). Let them know you’ll offer them a bounty (say, $500) if you end up buying a property they tell you about. Tell your mail carrier, your grocer, your neighbors, your hair stylist, your kids’ parents…and give each of them a stack of your business cards. On my personal card, I have, “I buy houses” printed on it so people know at a glance that I buy houses.

Post flyers wherever you can. Post your pre foreclosure bounty offer (do NOT call your ‘bounty’ a commission because that is illegal unless you are a licensed agent dealing with another licensed agent) at your church or synagogue, your health club, your coffee stop, your gas station, the laundromat – anywhere there’s a bulletin board.

Place an ad at a widespread online service such as Craigslist. Millions of people frequent these classified ad services every day, including people whose home is in pre foreclosure, as well as people who may know of a property in pre foreclosure

Don’t limit yourself to single family homes. Other types of properties go into pre foreclosure, too. Duplexes, churches, farms, even raw land can all have owners with financial difficulties that have forced them into pre foreclosure.

These are only a few of the more creative ways to find potential pre foreclosure homes that can result in huge real estate profits for you.

About Lance

Lance Young's expertise in real estate investing is grounded in more than 19 years of independent real estate deals and mentoring of novice investors. His first success came with buying and selling preforeclosure houses. Later, he made tremendous profits in the probate house market. In 1996, Lance wrote down what he had learned in a one-of-a-kind, step-by-step program for beginners and seasoned investors that shows how to make money buying preforeclosure and probate houses. The programs are updated frequently to fit the changing real estate market. His investing techniques require just a $10 contract deposit and 10 hours a week finding the most profitable opportunities. Testimonials from his students show that with no experience, people have made first-time profits of $11,000, $31,000 and even $80,000 just by following his simple guidelines. Through his web site, PropertyForeclosure.com, Lance Young has shared his simple, yet powerful investing methods with thousands of students while continuing as an active investor himself. His motto is: To teach others to become successful, you must keep your hand in and practice what you preach.
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