Wanna learn the 5 ways to flip pre-foreclosure listings to cold cash? This is what happens when you fully grasp the comprehension of value as related to income.
While pre-foreclosure is misfortune for distressed property owners, you are able to not just flip it to cold cash, you are also able to flip their sorrow to relief.
That’s the value.
Over here, we talk about making money in real estate even if you are not licensed, have no big cash for capital, have bad credit or have no experience.
One of the easiest ways to do that is by learning how to work a pre-foreclosure list. Have you ever heard the saying that “money is in the list”?
We are not talking about how to buy a pre-foreclosure. That part is easy.
All you have to do is put a call out to a real estate agent and have these things ready… your $1,000 deposit, $20,000 in closing cost and deposit balance and good credit to obtain a mortgage.
Many homeowners with properties in pre-foreclosure have admitted to the need to sell and the first people they tend to call is a real estate agent for obvious reasons.
Everyone does the same thing and that’s exactly why it’s not the best strategy if you are looking to wholesale pre-foreclosure for quick profit if you are not licensed, have no big cash for capital, have bad credit or do not have any experience.
Instead, in this lesson, I want to share 5 ways to flip pre-foreclosure listings to cold cash.
There are two contexts that support what pre-foreclosure listings are.
- Licensed real estate agents refer to regular listings with a house that just so happens to be on pre-foreclosure records at the county records office as pre-foreclosure listing.
It’s been listed like a regular house for sale to be sold hopefully before the house gets foreclosed on. You can actually see many of these houses on Zillow.
That’s not the pre-foreclosure listings that I am talking about.
- The pre-foreclosure listings that I am talking about is actually a hack. It’s a list that most county governments around the United States keep and maintain of houses with homeowners that have defaulted on lien such as a mortgage, property taxes, etc.
Basically, the house is heading for foreclosure which is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan; the property.
So learning how to work pre-foreclosure listings for profit is a hack that I picked up back in 2005 and it made me lots of money. I also made tons of mistakes along the way which I will help you avoid right now.
We use a strategy called wholesale real estate which is the art and science of finding deeply discounted properties and securing it as a deal for investors with cold cash.
The marketing message is simple. “We Buy Houses.” Not you personally but your endless network of buyers which I will show you how to access at the end of this video.
Without any further ado, let’s countdown the 5 different ways.
Way Number 5 – County Government House
Pre-foreclosure listings can be found for free in the public records section at your county recorder’s office. These days, many of the counties have them in online portals where you can download, name, property address and the lien details.
Many of these online portals are not user friendly or designed for easy download and processing to be flipped to cold cash. Many people are still watching old training videos and manually editing spreadsheets.
Can you make money that way? Yes. But I highly doubt it.
Way Number 4 – Door Knocking
If you are lucky enough to get through the process of downloading the pre-foreclosure listings from the county recorder’s online portal if that exists at all, you can then jump in your car and drive around town to knock on these doors in order to offer to buy the properties.
If you’ve followed me over the last 12 years, you probably already know how I feel about this campaign or contact strategy. If you are not sure, watch the video I released before this right after finishing.
Way Number 3 – Skip Trace & Cold Calling
Skip trace is the process of locating a person’s whereabouts.
In the context of real estate investing and wholesaling, it’s the process of finding their virtual contact information such as phone numbers and email addresses without leaving your house.
In this time and age, knowledge and information are cheap but time is a luxury. So it’s important to conduct any business profitable with less time… leverage.
Finding a property owner’s contact information without having to burn time driving around to go knock on doors only to get rejected most of the time is just not smart.
It’s not S.M.A.R.T.
Instead, you can spend as low as 20 cents to get additional contact data such as phone number per record and cold call or contact these homeowners to pique their interest in selling.
Can you make money this way? Absolutely. But not as likely as the next way I want to share with you.
Way Number 2 – Virtual Assistants
Again, this is another level higher than the previous way. With this way, you can jump on a job board such as indeed or upwork and hire a virtual assistant who will collect and process the data in your pre-foreclosure listings and do the cold calling.
If you want to build a business, you need to leverage other people’s time to go through the process so that you can align your personal energy and efforts with the actual business goals.
$82,000 highest net profit on a single deal, averaging $15,000 – $30,000 per deal.
Closed my first wholesale real estate deal in December 2005 with a $10,000 net profit right out of college with bad credit, no money for capital, no experience and no license.
This is OLA. 2 times author… Smart Real Estate Wholesaling and Real Estate Money Secrets.
I am doing an 11 days coaching challenge if you want to be the next with similar results in 7 simple steps starting right now.
The first of the 7 steps is to text the word ‘ACTIVATE’ to me at (732) 517-7532 and I will text the 2nd step to you right away.
Don’t forget to like and share this video with a friend.
Way Number 1 – Smart Data Driven System
It’s not about leveraging just other people’s time, you should also be leveraging systems and software to collect pre-foreclosure listings data and processing it.
With a smart data driven system, you can even automate all of the 5 stages from data to deal in a smart way.
What is a smart way?
SMART is a well-established tool that you can use to plan and achieve your goals… in this case, the goals being collecting and flipping pre-foreclosure listings to cold cash.
SMART stands for Specific, Measurable, Achievable, Relevant, Time-bound.
I promised earlier that I will show you how to access buyers that automatically qualifies you as legitimate and able buyer if you know how to find deals.
Rewind this video a few minutes and take advantage of the first step of the 7 steps right now.