Foreclosure Data
There are literally hundreds of sites offering data on foreclosures. Let me assure you that none of them are offering you what we are!
Having made my living in the foreclosure business for the last 15 or so years, I have investigated a huge number of them, only to be disappointed with what they have to offer.
Most offer a list of REO properties (owned by the bank after
foreclosure), and those lists are often woefully out of date.
You could get this same information from a friendly Realtor
for free!!
If you have taken any of my courses on foreclosure, you know
that most of the opportunity is gone by that point anyway.
Furthermore, nearly all of these REO properties are in the
local Multiple Listing system long before they get put on
those web sites.
What we offer is a list of the latest foreclosure filings, updated once or twice per week. We go directly to the District Court files and get the information needed to make an informed decision about the potential of a property, and begin pursuing it.
These are not properties that have been taken back by the bank, but Foreclosure Cases filed in the last week!! In most cases, it will take the lender about six months to finish the foreclosure, and become the property owner. These owners are facing foreclosure, and need help now, before the bank takes the property!!
Again, if you have taken my Foreclosure course, you know
that it is possible, with the agreement of the owner, and
the bank, to just make up the back payments in these situations,
rather than coming up with all cash or new financing as with
REO property. If you are serious about pursuing Foreclosure
properties, this is the list you need.
This data is not available on this basis anywhere else that
we know of. That means that only those few subscribers to
this service and those who dig it out for themselves, get
this information, and you get a jump on your competition.
If you've been working from REO lists, this is a SIX MONTH
minimum headstart!
What you get:
Case Number, Plaintiff, Defendant, Property Address, City, Zip, Principal Balance (foreclosing lien), Potential Market Value**, Gross Equity**, and Other Defendants.
** Potential Market Value and Gross
Equity are subjective values, which we have estimated from
comparable sales. For a complete description of how this is
done, please read our disclaimer and download the sample data.
Click Here to download Sample Data
All of this in a Microsoft Excel Spreadsheet. In this format, you can easily create a mail merge to efficiently begin a mailing or other marketing campaign.
Pricing and How to Purchase
We won't try and get you committed to a long term program until you see the value in our data. But we will make it worth your while financially, after you do.
First, let's take a look at how you can subscribe to our
service that e-mails you the latest data as it becomes available.
As we said earlier, we update this data once or twice per
week and upload it directly to the website. If you become
a subscriber to this information service, these files will
be e-mailed directly to you as soon as they become available.
To start out, I would suggest that you try a one month subscription and make sure that this information is really valuable to you. Then after you are comfortable with the information and how to use it save some money taking longer subscription.
You may purchase our historical data as well.
Not yet convinced that this data is a great value? Well, if you haven't tried collecting this data yourself, we suggest that you do. Here are some simple instructions:
Go down to the District Court at 400 Lomas NW. Find a place to park (this will generally cost between $ 2.00 and $ 4.00 per trip depending on how long you stay) Get through the metal detectors, and make a right turn into the Civil Files area. Ask the record keeper to see the last 10 Foreclosure cases filed (they keep about the last month's worth separate, for older cases you will need the case number) and find a spot in the viewing room to look at them.
There are only about four or five chairs in this room, so it is probably a good idea to go early in the morning so you can get a spot.
Then open your first case. On the first page of the complaint (depending on
which attorney is handling the case) you will find the Plaintiff
and Defendants. You will probably also find the original loan
amount. The current principal balance will probably
be stated several pages in.
Then you can keep looking and discover who the additional lien holders are, and the recording information on their positions.
Either write this information down to put in your computer later, or take your laptop with you and type it in directly.
After you have completed this process for the first 10 files, then return them to the clerk and ask for the next 10.
Tip: Keep all of this in order by file number. Since there are multiple researchers competing for these files, you will not usually be able to get them all in order. This way you can avoid having gaps in your data.
Then, if you are a Realtor, take all of this back to the
office and do a market analysis on each property to determine
what the Potential Market Value is.
Tip: Just put the street name into a search. This way you will get all properties in all categories on that same street. If you find the subject property then you have a lot of information on its size and history.
Now you can put this information into a
spread sheet, and have it calculate the Potential
Gross Equity.
Knowing the process let's take a look at how much money you can save by doing this work yourself, instead of buying the data from us.
After you get a lot of experience like we have, you can probably
get the Court House Research and data entry done in about
6 minutes per record. And the same is true of the market analysis.
So, with experience you can have your data in the same format
we provide, for an expenditure of about 12 minutes per record.
This year, we have averaged 164 Foreclosure filings per month.
Multiplying this by 12 minutes per record, you can expect
to spend about 1,968 minutes per month (32.8 hours) just to
collect this information.
You could hire and train a minimum wage person to do this for you. With time, you can train them to do the Court House research, but the market analysis portion holds many other pitfalls
The cost of such an arrangement makes the whole idea
seem ridicules! At just $5.00 per hour (below minimum wage)
you would spend $164.00 per month, plus your own management
time.
Even at our highest rate of $79.95 per month, with no commitment, you would be saving $84.05 over the cost of getting this done at just $5.00 per hour.
Order Now.
If you chose to prepay a 1 year subscription at $49.95 per month the monthly
savings grows to $114.05 per month.
If you choose to do this work yourself, and it takes you
as long as it does us you actually will be "SAVING
MONEY" at the rate of $1.52 per hour!
I am sure you are making more than that, aren't you?
As with any business, the most productive time an owner or manager can spend is face to face with his customer. Buying our data will give you back a week of each month to spend with your customer, the homeowner in foreclosure.
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