What strategy do most investors use to determine which properties to bid on?
Prior to an auction, I have been performing due diligence within a selected area. I determine if the beneficiary is foreclosing on the 1st trust deed, drive by the property and take photos, find comparables to determine fair market value and underwrite the property to account for all expenses (taxes, insurance, capital improvements, selling costs, profit, etc) to find my max bid. However, I am finding it necessary to look at each property the morning of the scheduled sale to make sure it is in the same condition as when I underwrote, but the vast majority of sales are being postponed. This is time consuming and frustrating. Is there an easier way to go about this? I assume some of the pros have direct contacts at trustee companies/banks/ or at the foreclosing beneficiary that they can find out what properties are actually going to sale. It would be good to get other investors insight. I have not bought anything yet but hope to soon. Thank you.
Note, I am located within the tri-counties area of California (Ventura, Santa Barbara, San Luis Obispo).