There’s a lot of competition to find great deals on local Portland/Salem OR foreclosure properties.
Finding them is just the beginning – knowing how to capture them is the key.
Here are a few secrets from the pros that we’ve used with great success on how to find great foreclosure deals in Portland/Salem.
1. Dig through the same listings that everyone else relies on.
There’s a lot of ways to access local foreclosure data in Portland/Salem and your surrounding area – and foreclosure.com does a relatively good job of combing through default notices, bankruptcies, tax sales and distressed asset lists. The biggest downside of online resources like these is the delay in posting information, which means the data can sometimes be outdated.
2. Explore the lesser-known publications occasionally used by smaller lenders.
Most of the publications in Portland/Salem are indexed and captured online, but every once in a while a lender will mistakenly only publish in a smaller circulation if they think it meets the legal requirements. These notices are default notifications that lenders are legally required to publish in public records. They are among the earliest indicators of a foreclosure.
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3.Build strong working relationships with at least one broker.
When you’re starting out as an investor in Portland/Salem OR, you’d better not burn any bridges – especially with the power real estate brokers in this town.
Top-tier real estate professionals, a select group, collaborate with numerous investors and maintain a keen awareness of each investor’s property preferences. As they nurture relationships built on trust, they facilitate seamless transactions. Once you fall off their radar, it’s challenging to regain their attention. The market is saturated with experienced investors seeking lucrative opportunities, leaving little room for amateur errors. Therefore, it’s crucial to assess multiple candidates before selecting one to exclusively handle your transactions.
Make it clear what that broker must do to earn and keep your business, play fair and never compromise your integrity. If you need to let go of a broker, do it gracefully—it can be a learning experience for everyone. However, never dismiss a professional on impulse. Be incredibly loyal and it will come back to you in countless ways over the years.
4. Find people before their properties are in foreclosure and help them before a default notice gets published.
While it may be challenging and time-consuming, buying foreclosed properties is a strategy that can help you avoid fierce competition from speculators. Many investors rush to purchase foreclosures, but taking the time to navigate this process can be rewarding. Remember, success in real estate investing is not about preying on opportunities but about maintaining integrity and building a strong reputation.
People facing foreclosure are in very difficult circumstances, and they need help – not predatory behavior. When we assist people with negotiating short sales, lease options, and other complex transactions, everyone benefits—no one loses. Acting with integrity allows us to receive fantastic referrals and exclusive deals that never reach the open market. Clients remember our efforts, and when their friends and family need similar assistance, they send them our way.
5. Find niche specialists like our firm who know how to find foreclosures in Portland/Salem for you.
We are not your typical real estate brokers who simply sell information or provide low-quality lists. Our focus is on providing valuable insights and top-notch services to our clients in Portland/Salem, OR.
Our real estate listings consist of our personal investment properties, making it a curated and limited selection.
We’re focused on building a small, tight network of long-term investors who want to purchase credible real estate investments in Portland/Salem. We find deep discounts and pass them along – while keeping a reasonable return that allows us to stay in business.
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