Plenty. Here are two of the biggest problems investors are complaining about.
Outdated. Leads are not fresh. Some investors are reporting leads that are up to several months old. It is not uncommon to find others that are several years old.
Inaccuracies. Not only are the wrong properties listed, but some are being displayed with the wrong photographs.
As we all know this business requires the best most up to date info. Anything less and you’re wasting your time. So where can you find the best information before your competition?
The local courthouse is still the number one source. It’s free and fresh. If a lot of your local couthouse information is online you can save time and gas.
The point is to keep researching. Every investor working in foreclosures needs to have some sleuthing traits. He should enjoy some or most of the hunt. If not, there’s always outsourcing. Dole out that dog work to a real bird dog, but get it done.
Here’s why the successful investors keep at it. One recently reported discovering a 12 acre farm at the courthouse for less than $200K. Two weeks later he flipped it for $300K. His profit was over $100K without any rehabbing, tenants or grunt work.
So what’s harder? Dog work at the courthouse looking for sleeper deals that can be quickly flipped or dog work at the rehab?