While the economy has some people down, it also offers some opportunity as well.
Kevin Kennedy isn’t new to the real estate business. Backed up by previous experience, a knowledgeable designer, and one week, he was able to launch his latest venture, ForeclosureOfTheDay.com. For a small fee, visitors can search through the available listings to see what is available in their area of interest.
What was your inspiration for ForeclosureOfTheDay.com?
We love deal of the day sites and have had some good success buying foreclosures. We thought the idea of combining the two ideas would make for a website that people would return to often.
How can someone purchase or inquire further on a home you feature?
Currently we offer information about the deal of the day and 20 more foreclosures in your zip code of choice. Our list also includes a step by step guide to buying foreclosures. We will be launching and selling a new software product within the next few days that searches foreclosures.
How long did it take for you to build up your website from start to launch?
From idea to launch was only one week. We used a software developer in Texas that had done 3 deal of the day sites and he had the basic template and back-end of the site already to go so we just had to get him the general idea of what we wanted and he built the site over a weekend.
Do you have any special plans for your website that you’d like to implement during your first year online?
We will be launching the foreclosure software within the next few days. Our next update to the site will offer the opportunity to search the deal of the day by zip code.
With the economy doing so badly, what needs do you think ForeclosureOfTheDay.com will fill for a potential home buyer?
There are over 500,000 Bank owned properties in the US. These banks do not want these assets on their books and will do just about anything to sell them. Armed with our info and custom list of foreclosures in your area you can be ready to jump on the opportunities that are flooding the market. 97 out of every 100 millionaires made some or part of their fortune in real estate.
While it takes knowledge to build anything, it’s also important to learn from it. What have you learned during the start-up process for your website?
That there is huge need for good information. We all make decisions on the information that we have and the better the info the better the decision.
Have you always been interested in foreclosures, buying and selling homes?
My first foreclosure purchase was an apartment complex that was 57,000 square feet and in bad shape. I paid just over 900k and flipped it a year later for 1.5 million. I was hooked. I was also on Judge Judy for “wrongful eviction” because one of my tenants lost a 8 foot Burmese Python in my building. I won the lawsuit.
What advice do you have for someone looking on your website for a discounted home in their area of choice?
Follow our easy step by step guide. Buy on price not on emotion. If the bank rejects your offer find another property. You have to look through a lot of trash to find your real estate treasures.