Article #1 from Foreclosure Articles
by David Whisnant Editor, Real Estate Investor, and Attorney

Foreclosure:

Doubling Your Foreclosure Business With No Competition

Let’s face it. There is a great deal of competition from other investors who are looking for foreclosures. If you are in a competitive market you will need a whole tool chest of different foreclosure techniques to beat your competition to the punch.

Active foreclosure investors will notice that most good foreclosures with equity do not make it to the actual sale on the courthouse steps. Some are sold before the foreclosure. That is where I like to buy. Some people come up with the money themselves from friends or family to stop the foreclosure, and some properties are saved from foreclosure when their owners declare bankruptcy.

The idea in this article is so simple, but it will have a huge impact on your foreclosure business if you just apply it.

Years ago, I had lunch with a friend who is a bankruptcy attorney. He asked me how the foreclosure hunt was going. I replied that it was going great, except for the fact that many of the really good foreclosures were off limits because the owners declared bankruptcy. As you know, declaring bankruptcy stops the foreclosure dead in its tracks.

I explained that I tossed those leads aside, signed up the deals that I could, and then waited for the next month’s foreclosures.

My friend laughed and asked me if I had missed the day of law school when we discussed how most people who declare bankruptcy don’t stay in bankruptcy. For example, they often can’t make the minimum payments, or stick with the bankruptcy plan. The court dismisses their case.

It dawned on me instantly that I was leaving potentially hundreds of thousands of dollars in foreclosure profits on the table each year.

If you want to scoop these foreclosure

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