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How To Find Foreclosed Properties With Remine

Published on: December 6 2022 by Jaime Resendiz

How To Find Foreclosed Properties With Remine

How To Find Foreclosed Properties With Remine

hey this is Jaime Resendez with echo
real estate advisors today we're gonna
tok about remind but more specifically
the distressed tab within remind and how
to get home sellers and home buyers from
that tab alone so let's just dive into
it we can go to remind and oftentimes we
we forget we may forget where to go to
get the distressed deals you go to your
left hand side if you go to your left
hand side depending on your display
settings this won't appear for example
my display settings don't show the cash
buyers which essentially cash buyers are
when a property was purchased
there's no registered more is taken out
for that partikular property that's what
a cash buyer is labeled as here so these
properties that you're seeing it's not
that they're actually cash buyers
it's that during the purchase of a
property there wasn't a registered
mortgage that they that remind could
attach to the properties in and of
itself so right off the bat I went on a
rabbit hole so my apologies let's go to
the distressed deals with their stress
deals you're gonna see four options and
depending on where they are the
properties are in the foreclosure
process and whatever your strategy may
be where if you are working with
investors or theme yourself or working
as a Realtor and trying to get the list
I'm sorry trying to get the properties
that are gonna go up for sale and that
need us to be sold quickly before they
actually go into foreclosure whatever
the case may be this is
this is where you're gonna really be
able to hone in now I found that with
less pendants I don't know if that's how
you say to be honest with you I've never
I've never known so what I found is that
this one doesn't give me too many too
many options so what I do is I just
highlight all of them and I apply and I
apply the filter at that point that way
I have more properties to work from and
start digging into every single one case
by case what you're gonna find
whenever you're digging into the
properties you're gonna find that some
of them are actually already being are
being sold they're actively being sold
on the on the MLS and how you find those
if you want to exclude them and get
active you can apply that so as an
example this one right here this one's
on the market this has been on the
market for six days and it was
categorized as a distressed property so
let's dive in and see what we can find
now the owner had owned it or presently
owns it for about almost 19 years open
door okay so it looks like open door for
those of you that may not be familiar
how open door works that they haven't
reached out to your market yet since I'm
here in Texas they've been here for a
little while now open doors model is
purchasing the property and then selling
the property themselves so it's almost
almost like a a rehabber if you will but
on a larger scale so it looks like open
door already got ahold of this listing
you see that there's a notike of
foreclosure in 2018 also in 2017 so
there's been some instability and on
that this partikular mortgage but it
looks like May 17th was a one of the
final tipping points to where here we
are in August 27th
and either the owner and again I don't
necessarily know the story behind this
partikular property but there's a lot of
context clues that you can start
building your narrative around so it
looks like the owner needed to sell the
property as quickly as possible they
reached out to open door open door
purchased it cleared out the debt and
it's out there selling it so you see
that they've been six days on the market
now it looks like this hasn't been
updated yet so so you're gonna run into
some some properties that do that
however what I really like about this
partikular software is that
traditionally if you were targeting
distressed properties you had a resort
to buying the the distressed property
lists whether there were 90 days 60 days
30 days from having received the
foreclosure notike
that's what you were gonna pay for and
under that traditional model of trying
to purchase these lists to find out
which properties needed to be sold that
was the I would say traditional way of
doing it or driving in front of
neighborhoods and seeing if there was a
lawn that didn't necessarily look to
care for if somebody was looking to none
or wasn't really interested in
maintaining the property any longer
there's a lot of things there's a lot of
strategies that people were deploying
but the more the one that I'm most
familiar with its purchasing the list of
foreclosures so essentially the
foreclosure list and/or the free route
going to the county going to the county
website and waiting for that list to pop
up and see which ones which properties
have received a default notike and we're
about to be auctioned off in the coming
the coming days or in the coming our
auction so that was a traditional way of
doing it but with
mind you get all of this information
into the system into your into your I
guess into into your account now the one
thing that I am not aware of is if this
is only on the pro account or if you
also have this on your free account so
if you are on the free plan please in
the comments section let me know if you
have this or don't I generally don't
know if you will or not having upgraded
to the pro account it uh I don't
necessarily remember what's included or
what's not not included so let me take
this out and get back to get back to
other properties let's let's find some
distressed properties and find some
sellers and then get some home buyers
and I'll show you how we do that
did I click on this one it seems to be
different okay now it looks like this is
an absentee owner it's flagged as a
distressed property and let's get a bit
more information the received a notike
of foreclosure in May so we are here in
August re September just been several
months and there hasn't been a change or
at least any that we can see so I would
actually click right through well they
don't have the information this if
you're trying to reach out to them
either by phone which would typically be
here or the email or that a Facebook
associated to this account you'd be able
to click through straight to Facebook
you can reach out to them this way but
if you're more of the person that wants
to do this face-to-face you can
certainly go to that address and see if
there's any help that you can provide to
them if there's still any distressed
status let's find them
the one that we can work with a little
bit more you're gonna find sometimes
that these properties as you saw there
may 25th was when there was a a change
or when this was flagged as a distressed
property right now you don't have a date
filter over here I'm not necessarily
certain if that's something that's in
the work or not through remind I'm gonna
have to reach out and ask about that but
you're gonna find that these distressed
deals they can date back what was that
may those four months I've seen some
that have been about five months in
April so I don't necessarily know how
far back they go so there had there may
have been some movement at that point
but as long as you're focusing on your
farm and actively monitoring this and
making it more of a weekly ritual for
you where you go in here and check for
that any property changes and if you're
tracking your farm as you should then
you would find some change you would
find that partikular change if a
property has reset distressed has reset
distress signal or there's been some
change in the property then you would
see that on the engaged tab assuming
that you're tracking your farm
so that's would be an easy indicator for
you when you log in and see some status
changes on the engaged tab but if you're
wanting to really just explore more of
the area that you were and trying to
find to stress deals instead of getting
in the car driving around trying to pick
up on some visual cues on who may need
your services then this is the way to go
as we click through to properties that
have been flagged as distressed
properties and we see here we see the
owner before I click through to the
owner I like to see down here to like
we had a notike of foreclosure cell then
there was another one in 2015 but looks
like that one's not not a factory
anymore so we would click through here
unfortunately this individual is on the
Do Not Call list but you see several
other associated properties so there's a
lot of things that you can infer with
this one of them being maybe their
investors where you see the buy score
being high so I'm not necessarily
certain what I'm not necessarily certain
what this person's profile may be or if
why this received a foreclosure notike
on this partikular property maybe some
payments were behind and somebody forgot
to make a payment whatever the case may
be you've just found and identified a
potential home buyer so essentially an
investor for you and if they weren't on
the Do Not Call list then I would
suggest of course reaching out to them
but since they are on the Do Not Call
list I'm not gonna suggest that you
break the law now now you're seeing here
there's a a good amount of you know
clicking through doing a little bit of
research beforehand but it certainly
beats going out there and trying to
guess at it or going out there and
purchasing hundreds of dollars worth of
default notike lists that are that are
out there the 30-60-90 list as they're
commonly referred to if this is part of
your strategy of getting distressed
properties and trying to get to the
homeowner as quickly as possible to
provide a solution of selling that home
before they go under which is a huge
solution that you're providing then I
would suggest doing this or giving this
a shot because at the end of the day
it's gonna cost you less money instead
of focusing on purchasing those lists
that again those do cut cost hundreds of
dollars depending on depending on the
size of the list that you're purchasing
or and this also saves you a good amount
of time when you're toking about
waiting for the county to release the
names or the release the addresses I'm
sorry of the properties are gonna go go
under so this does that work for you
because it because it pulls that
information in now I see this is an
investment group so let's see what we
have here absentee which makes sense as
they're an investment group they've
owned it for less than a year first 20
seconds you know what that could be
it could actually be that they have
purchased it and it has updated with the
county so if you wanted to you could
then go over to the Tarrant County and
try to get some more information so I
won't go through that because that could
take a little while so anyway if you
wanted to invest more time in
researching what's going on here
although it looks like that was probably
purchased already you could certainly go
to the county and start and start doing
some more research that way or you could
click back and continue your search all
right there's a high sell score on this
one it's distressed there's an owner
this owner has owned it for quite a bit
let's see what type of notike we got
June 28th we got a notike January we got
a so it looks like this one's going
through the progression of actual
foreclosure and there was some activity
in 2017 as well so I would be
looking through and getting some
additional information even though it's
from June how to click through and my
rule if you watched any of my videos
about personal contacts since one over
their phone numbers is on the Do Not
Call list and the other one is
tiknically not on the Do Not Call list
I'm more on the conservative side and I
won't be reaching out to this individual
because they've thought enough to at
least get one number on the Do Not Call
list so the chances are they may think
that their other phone number is also on
the Do Not Call list so not only is it
going to lead to an uncomfortable
conversation when there's a
communication between this individual
and myself but also there's a good
chance that they could escalate it to
ultimately reporting you for whatever
reason even though you've done nothing
wrong and can tiknically as this is not
undr do not college but that's up to you
I've given you my opinion and it looks
like this individual is associated to
different properties so this could also
be looking at another investor which
makes sense that they have a high buy
score so that they had if this wasn't
there then having a very general
template script of reaching out to this
person
would be very advantageous because you
may have stumbled into somebody that may
not be aware that this property is gonna
go under or has received a notike or you
may be toking to somebody that has
multiple properties which that's the
case here as you can see so there's
different different different stories
different different situations that you
can that you can walk into but what I
like about this is that you can you've
shortcut it a lot of needless
conversations a lot of speculations and
all of this information is right at your
fingertips so there's many
different ways to reach out to these
individuals that may need to do a quick
sell you could be going directly to the
property and do door knocking if they
have the contact information you could
email them call them text them the name
is there so you could try to do that
whole Facebook stoking and simply
trying to reach out to the individual
and provide a solution people aren't
going to necessarily broadcast that they
are going through the foreclosure
process or anything else like that for
various reasons that I won't get too
much into that but you are providing a
solution you certainly don't want people
to go through a foreclosure if if they
can avoid it so you are you are
providing that solution I'll click
through to this last one and see if we
can find something a little bit more
concrete but this is this is part of it
this is what would I what I do when I'm
looking more for distressed properties
and notike of foreclosure April 30th and
they've had another one here in October
13th how to click through unfortunately
they're on the Do Not Call list but you
see more associated properties with this
individual so that again it could be a
situation where they have multiple
property than one of them just kind of
slipped behind and they weren't
necessarily aware of it or whatever the
case may be but you see here that this
is very likely an investor that you may
want to connect with and see if you can
be of service in their future purchases
so getting more than anything I wanted
to highlight the distressed the
distressed tab that's commonly
overlooked some several reasons is that
the your display settings may actually
not be showing it to you so just know
that it's it's there and if this is only
on the Pearl account or on the paid
account my apologies that's why I you'll
commonly hear me say that going to the
pro account is where it's at
but it's up to you if the free version
which allows you to track 100 properties
is enough for your needs so outside of
that thanks so much and I'll see you in
the next video
you
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