Hopefully all of us as investors have an aggressive strategy for finding potential deals. I have people asking me all the time if they should be looking here or there for properties. My answer is almost always yes. I tell people to look anywhere they possibly can for potential deals with the understanding that they should always be looking for motivated sellers.
Banks are typically motivated sellers and, in my opinion, are increasingly becoming more motivated because of the sheer numbers of properties going into foreclosure. Typically banks hire real estate agents to market and sell their foreclosed properties but with so many properties being foreclosed on banks are being more aggressive in disposing of these properties. Banks are increasingly turning to auction companies to sell large numbers of repossessed properties in a variety of cities and states.
A few websites where this is taking place are www.hudsonandmarshall.com, www.williamsauction.com, and www.ushomeauction.com. These companies specialize in conducting auctions to dispose of foreclosed properties. They post all the properties they are auctioning typically with pictures and details of the property including contact information for potential buyers to call with questions.
These can be great sources for finding and researching potential good deals.
Posted by Carter Brown
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