Foreclosure Properties fo Investment

[YoungInvestor]

What is the best way to obtain foreclosure listings?

[Dan in CA]

Foreclosures are typically done by county and each county typically has a legal newspaper that they are published in to satisfy the legal requirements associated with foreclosing on a loan. You could go to the county recorders office and ask them what legal paper the notices are typically published in (since the notice of default and notice of trustees sale is recorded, they usually know the players in the game).

Depending on how large your area is (metropolitan or small town) there is almost always at least one online resorce that publishes the foreclosure notices, but they all require subscription and payment. If you plan on doing this as a business venture, then the online resources are the way to go. Just search in Yahoo or Google; it should give you a couple results.

If you're just looking for foreclosure listings (of properties that have already gone back to the bank), then I would once again suggest an online search of real estate agents/brokers in your area. Now that the banks are seeing the results of their loose lending practices get dumped back in their laps, the real estate sales community is there to help them solve the problem. In fact, in my area here in California, there are about ten or fifteen agents that solely specialize in selling foreclosure properties. My experience however is that once it goes on the open market, there is no longer a good deal to be made.

Good luck!
Dan in California