Ive been doing some foreclosure searches on realty trac and home come across alot of good home that are just in default. What should i do now? Should i just get on the phone and start making alot of calls. I was a little worried that these people would be mad that im calling them, but that what happens when you cold call.

the best thing i found out that you can do is to send out a bunch of letter to the people in pre forclosure. Letters are good because they are not as intrusive as phone calls. You also can get a voice mail phone number specifically for this. Personalize the letters as much as possible. Try to make it look as if you arent sending alot of letters out. Hand write the address if you can. This way you will get alot more people opening you letter and at least taking a look at it.

ive also had some succes with sending letters to people in preforclosure. Definatley make the letters unique and not look like a form letter. Try hand writing as much as you can. If you send out enough letters, there is a good possibility you will get some decent leads.

i agree with the letter writing, thats the best way to contact. Also send follow up letters if you dont get a response. Once you get them on the phone make sure you let them know you are looking for a deal. Sometimes people are still expecting to get market value for their home. You have to stress the fact that you can provide a way out of forclosure for them and this will save their credit.
Offer to close very quickly on their house. They are looking to get out of a bad situation, and you are there to help them.

dont over look the bank owned properties that available. The price is going to keep coming down as more of the forclosures hit the market and the banks are going to want to unload them at a big discount

i think if youve found a property that you are really interested in, go ahead and call them. Here's where decent people skills come into play. If you can get to know their situation and let them know you can get them out of their situation, they will be more likely to respond to what you are offering.
If their house goes into foreclosure, their credit will be screwed up and they will have a very hard time getting a loan if they want a house down the road. If they arent reponding to your offer, make sure and gently let them know all of the downsides of being foreclosed on.

also if you have found a good foreclosure deal, make sure the properties dont have any oustanding liens or delinquent taxes. These can destroy your profit and prevent you from selling the place.