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Author Topic: Locating Properties  (Read 3178 times)

Offline texguy

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Locating Properties
« on: February 24, 2005, 05:05:44 pm »
I am interested in locating homes and wholeselling them to investors.  I have driven through neighborhoods and had real estate agents look in the MLS for homes. So far, I have not found a deal that makes sense.  I just need a little direction.  What is the best way to locate properties that I can be bought at 70% of ARV - repair cost?  Thanks in advance for your help!

Jerry
P.S.  I am unable to get a prequalification letter to buy foreclosures at this time.

Offline GAWholesale

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Re:Locating Properties
« Reply #1 on: February 24, 2005, 06:26:01 pm »
You are wasting your time driving around unless you are trying to get a sense of a particular market's values.
You need to get sellers to call YOU. Market to them effectively through signs, direct mail, newspapers, and referrals. If done right, you can get all the deals you need.

Offline johnmichael

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    • JMichael Investments
Re:Locating Properties
« Reply #2 on: February 25, 2005, 09:23:45 am »
Just a few suggestions

Landlords -
Being a landlord is tough, tiring, and stressful!  Many do not understand the market!  Many are poor business managers!  Motivated Seller

“For Rent” Ads
You Will Reach: Landlords or Landladies, Investors, Property Managers.
All Are Excellent Sources for Investment Property & Lease Option Deals.

Try contacting your local county court. Ask if Notices of Default (NODs) have to be recorded as court documents. If the answer is "yes," find out how you can search the new filings; if the answer is "no," try one of the other options below.

Find out if the County Recorder has data available online. An easy resource to use is www.netronline.com. Simply click on "Property Data Online," select the state you want, then click on the county, and voila! You'll be able to see what (if any) info is available over the Internet through the various real estate-related offices in that county.

Look in the "legal notice" section of the newspaper. Look for properties that are coming up for sale at public auction (sheriff's sale, trustee sale, whatever), jot down the addresses, the property owners' names, and the tax ID, or at least as much info as you can get from the ad.

Go to the County Recorder's office to look up those properties, find the NOD on the title, and see who recorded it; you're looking for a title or abstract company that you can work with. They provide you with a list of the NODs they've recorded, and when you close on any of those deals, use their services for closing ("you scratch my back, I'll scratch yours").

County Health Dept. For a List of Death Certificates Issued!  NewsPapers List Obituaries!  Is This Morbid? No!
Make a List of Obituaries or Death Certificates - Search to see if Property Is Owned
You Can Help Family Liquidate Real Estate - You Offer a Quick Sale
Be Sensitive - You Help Keep Probate Cost Down - You Help Them With Closure
"Education is the ability to listen to almost anything without losing your temper or your self-confidence." By Robert Frost, Poet

Offline texguy

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Re:Locating Properties
« Reply #3 on: February 25, 2005, 12:46:10 pm »
Great ideas!.. Thank you very much.

 




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