Have You Heard Of Foreclosures Daily?
I attended a presentation on Foreclosures Daily last night. They provide listings of foreclosures and a marketing support service to help with the marketing lettters, the call ins, etc and also short sales with the banks. Any one had any experience with these guys?
Thanks for your input.
I have been a member of FD since 2005 and like their service. My RE business is essentially all foreclosure and pre-foreclosure. They compile all foreclosure data on one page so you can quickly determine if it’s a property that might interest you.
As with all deals you must verify the information and liens and most importantly know your foreclosure law in your state. You must read the complaint (judicial foreclosure State) and verify that it is a first mortgage foreclosure and all junior lien holders have been served.
David
Thanks for your reply. Do you feel that what they offer is worth it, in that you still have to do the research on the properties?
Yes I do feel their product is worth it.
I don’t have time to do all the research and legwork. But again you must know what you are doing and what you are buying?
Do you know your foreclosure laws in CA?
Isn’t there a redemption period in CA like 2 years?
If so maybe pre-foreclosures are better with title insurance
It’s not about FD it’s more importantly about your skills as a foreclosure investor!
I am actually investing outside of CA.
Thanks for your response.
Foreclosuresdaily (and their competition) will give you details on what is being foreclosed and when. It is up to you to determine the value of the property and quality of title...Are you buying a 1st, 2nd or 3rd?
And you or someone you trust needs to put an eyeball on the property to determine present value. What condition is it in? Abandoned with a crashed in roof? Recent fire damage? Boarded up? In a war zone? Vacant lot because the City tore down the house because of violations?
Buying preforeclosures allow an inspection and walk-thru of the property and title insurance on your purchase.. Buying at foreclosure sale gives you a drive-by look and as-is title, whatever condition either one may be in.
The foreclosuresdaily program will get you started but you will have to do the rest.
[addsig]
Does anybody have any insight as to what is the delay in the information presented by Foreclosures Daily (i.e. where their information comes from)?