As a residential real estate investor, distressed properties offer below market values and a great profit margin. As such, one is always searching for new distressed properties to add to an investment portfolio. However, finding distressed properties is typically challenging and the hunt can be time-consuming without the right tools. In this post, we highlight how ATTOM’s property data can help you find and target distressed properties.
How ATTOM Pre-foreclosure Data Has Helped to Grow a Real Estate Investment Portfolio
Previously, finding distressed properties to invest in was a time-consuming process. Before investing in ATTOM’s real estate data services, much time was spent poring through tax records to find prospects with delinquent taxes – a sign they may also be struggling to pay their mortgage. In addition, many real estate investors also have this paper-heavy search by driving for dollars – looking for properties in disarray around the local neighborhoods.
However, ATTOM provides detailed property data that will show homes that are currently in pre-foreclosure, where mortgage payments are in jeopardy and a potential foreclosure is on the horizon. ATTOM’s foreclosure data offers pre-foreclosure notices, including Notice of Default (NODs) and Lis Pendens (LIS).
This data puts those investors ahead of their competitors, as foreclosures are an attractive investment opportunity, many investors vie for the same foreclosed properties – ensuring that the best deals are quickly cherry-picked and taken off the market.
With ATTOM’s pre-foreclosure data, you can easily identify which properties are at risk of foreclosure based on the number of open mortgages, a specific lender, or loan type and use this information to target homeowners. This data helps investors to uncover motivated sellers who no longer wish to own their property.
For example, one investor used ATTOM’s property data to find homeowners struggling with their unpaid mortgages, and have targeted them through direct mail to discuss selling their property in order to preserve their credit.
Sourcing Foreclosures with ATTOM
In addition, ATTOM also provides detailed information on foreclosures ready for purchase; from Notice of Trustee’s Sale (NTS) and Notice of Foreclosure Sale (NFS) to bank real estate owned completed foreclosures (REOs).
ATTOM’s pre-foreclosure and foreclosure records include: the foreclosure type, the address and geolocation of a property, the recording date, and the auction date. Using ATTOM’s marketing lists, investors have been able to target a number of promising prospects and add several new properties to their investment portfolio.
The Easy Route to Finding Distressed Properties with ATTOM’s Property Data
ATTOM’s real estate data has taken the time and the hassle out of finding lucrative distressed properties and has helped to grow many real estate investor portfolios. As a market leading data provider, offering the most comprehensive datasets on pre-foreclosure and foreclosed properties in the U.S., you can rely on ATTOM to provide you with an over-arching view of the pre-foreclosure and foreclosure market.
Interested in receiving a free quote on our pre-foreclosure and foreclosure data? Contact us here.
The above article is a theoretical use case
