Real estate investor forums

Foreclosures Forum

The best ways to do pre-foreclosures/short sales, getting banks REOs, and dealing with HUD and the VA.



 
Adelphi
Rank 1
View all Posts

Topic: Pre-Foreclosure information vending: Is this a good business idea?
Started: 1/27/12 Current Grade: C
Posts: 2 Topic Type:
I have a business idea and I want to know if it is a good one or way off and shouldn't bother.

I have made a habit of going to the local counties in my area and collecting pre foreclosure information - namely 'Notice of intent to foreclose on Deed of Trust' information.

From there I know that the standard business model is to contact the individual served, try to get their property under contract, and make a deal with a buyer for a bird dog fee.

I was just thinkin', is it worth my while to try to sell the information itself? I did put time, effort, research know how and transportation costs into getting the information and thus it seems to have monetary value. My only competition, it seems, would be list brokers that we've all seen advertise on the r/e investment sites but I would guarantee my product as valid pre-foreclosures and that they're exclusive, I would sell through personal networking not through an ad and then delete any info sold so as not to sell it to someone else.

Is this an idea with merit or should I not bother?
Search Search this Topic Subscription Subscribe to this Topic Drop to First Unread Drop to First Unread
Bookmark Topic Bookmark Topic Show Printable Version Show Printable Version Email this Page Email this Page

Financexaminer
Rank 5Ambassador
View all Posts

# 1
Default
Posted: 04-04-2012   Current Grade: C
I think that if anyone has what they believe to be a marketable product that provides value they should go for it.

However, in my area, I have a relationship with several lenders who will work with me and they suggest that borrowers in trouble contact me. So, I don't need a list, I get the deal before the bank sends the letter of demand!
Reply With Quote Reply
grabritch3l
Rank 1
View all Posts

# 2
Default
Posted: 04-19-2012   Current Grade: C
If you believe that this will be profitable for both parties, I mean for you and for those who will be involved, then take the risk and give it a try. Consider the competition but don't bother.
Reply With Quote Reply

Reply

Topic Tools Search this Topic
Search this Topic:

Advanced Search
Display Modes


Back To Top
Back To Forums Home

Forum Leaders

JohnCorey
JohnCorey
12563 Points
Financexaminer
Financexaminer
10743 Points
Jeff_Tumbarello
Jeff_Tumbarello
5438 Points
stevebuyshouses
stevebuyshouses
4877 Points
Brian Lucier
Brian Lucier
3149 Points
RyanDehler
RyanDehler
3137 Points
cperkcpa
cperkcpa
3133 Points
ecosentry
ecosentry
2147 Points
IPersevere
IPersevere
2011 Points
investor411
investor411
1928 Points
Your Ad Here