Topic: Pre-Foreclosure information vending: Is this a good business idea?
||Current Grade: C
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?