There is a lot of competition to locate great deals on local San Antonio Texas foreclosure properties.
Locating them is just one part of the process — you should also know capture them.
Here are a few secrets from the experts that we’ve used with great success about the best way to find great foreclosure deals in San Antonio.
1. Comb through the very same listings everybody uses.
There are a lot of ways to get local foreclosure information in San Antonio and the surrounding area — and foreclosure.com does a relatively good job of combing through default notices, tax sales, bankruptcies, and distressed asset lists. The downside with online resources like that is there tends to be a lag in the time that they get the info online… so the data could be a bit old sometimes.
2. Look for the lesser-known publications sometimes used by smaller lenders.
The majority of the publications in San Antonio are indexed and recorded online, however, every once in a while a lender will mistakenly only publish in a smaller circulation should they believe that it fulfills the legal requirements. These records are the notices of default that lenders are legally required to print in public record. Those are one of the first places that you can learn about foreclosures.
3. Establish excellent working relationships with a minimum of one broker.
When you’re starting out as an investor in San Antonio Texas, you’d better not burn any bridges — especially with the power real estate brokers have this city.
The best of the bunch (and that is a very short list) do business with dozens of investors, and they know exactly who is looking to purchase what property — they will call those that they know will close the deal without any hassles to them. Once you’re off the shortlist of folks who get the calls, then you likely won’t get back on it. There are too many credible investors searching for great deals for them to bother dealing with rookie mistakes. Interview a few, and make it your goal to give all of your business to a single person.
Make it clear what that broker has to do in order to earn and keep your business, play fair and not compromise your integrity. If you need to fire that broker, do so with grace and it’ll be a learning experience for everybody. But never fire a pro on a whim. Be incredibly loyal and it will return to you in countless ways over the years.
4. Find people before their properties are in foreclosure and help them before a notice of default gets published.
This one is most likely the hardest and most time-consuming method, but it is one of the only ways to get around the competition of lots of speculators that descend upon any published foreclosure like vultures to fresh roadkill. Speaking of that, you do not win in this business by treating people like roadkill. Remember that your reputation is everything in this business, and behave with integrity.
People facing foreclosure are in a very difficult situation, and they want help — not predatory behavior. When we’re in a position to help people negotiate short sales, lease options, and other complex transactions, everybody wins — and no one loses. Behaving with integrity helps to acquire incredible referrals and special deals which never hit the open market. People remember what we have done for them, and if their friends and family want similar help they send them to us.
5. Find niche experts like our company who know how to find foreclosures in San Antonio for you.
We are not real estate brokers, so we do not sell information or give away crummy lists.
The properties we advertise are our very own investments, so it’s a short but exclusive list.
We are focused on building a small, tight network of long-term investors that wish to buy credible real estate investments in San Antonio. We find deep discounts and pass them along — while maintaining a reasonable return that allows us to remain in business.
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