Real Estate Investing Forums

Real Estate Investing => Bird Dogs, Wholesaling => Topic started by: bam1of5 on December 20, 2004, 04:07:57 pm

Title: I have three questions!
Post by: bam1of5 on December 20, 2004, 04:07:57 pm
1. Once a property is found where do I find owner info?

2. Is current propert tax status important and where do i find it?

3. When searching for a buyer, where do I find info on a buyer?

thanks for any input, Mark  aka  bam1of5
Title: Re:I have three questions!
Post by: Mr.fancypants on December 22, 2004, 03:53:59 am
Hi bam1of5,

If you're having difficulty locating owners, I am assuming that you're dealing with abandoned or boarded up homes? All you need to do is go to your county tax appraisors office (a lot are on-line nowadays) and research the address. It will tell you where the current owner is living. You can then call or mail them a letter. Yes, the tax status is important because it gives you a fairly accurate value of the home. It's usually under market value. If you use the tax appraisal,and some CMA's you should have an accurate idea of how much you could resell the home for.

If you're trying to wholesale to other investors, just go to your local RE club meetings and network. If you're trying to sell to consumers just use a realtor. Good luck and happy holidays.
Title: Re:I have three questions!
Post by: tedjr on December 22, 2004, 07:09:53 am
Howdy Mark:

The tax status is the status the current owner has. If they are over 65 they may have the taxes frozen at that rate. It will not affect the tax value but it may keep the taxes low for years for the current owner. Be careful in that if you buy it the taxes will go up to normal rates the next tax year. If you have a closing scheduled on a senior's home and if the taxes are low you may want to delay closing until Jan to save a few grand perhaps on the next years taxes.

Happy Christmas and Merry New Year
Title: Re:I have three questions!
Post by: bam1of5 on December 22, 2004, 12:20:45 pm
Thank you all for the input. I find this site to be very educational. I am glad so many experienced investors  and newies (like me) can exchange ideas and info. I have only been looking at this avenue for a week now and am building a network of both, those who I can help and those who can help me. I will continue to look here for the help and info. In the future I hope to contribute to future investors what has been so freely given to me.

Happy Holidays to All.........Mark