I am a new investor and I have a full time job. However, Iam very interested in buying properties in foreclosure. I attended last month auction and got to know some people that do all the dirty work before the auction (list of all the prop. with pictures and all the info nessesary including pending liens etc.) for a 10% of the purchase price. Is the charge too much? What are other investors paying? Thanks in advance for your advice.
so if you buy a house for $100k you give then 10K …no way, do the research yourself, i can’t see paying someone $5000 hr to do a little legwork…i’ll tell you what …i’ll do it for 8%…
I think realtor charge @ 7%
That is WAY too much. The lady that does the legwork for me (in Utah) charges $500 per purchased property and $50 per month…that’s it.
THANK YOU guys for your advice again!! But how do I find me someone in our county that will do the legwork for me at a cheap price?
do a search for birdog’s…put an ad in the paper, post some flyers’ around, be creative ! good luck
Depending on your area, you should search www.foreclosures.com to see if they have lists for your area. THey list houses that will be at auction in 2-3 weeks. Sometimes you can contact the homeowner and work a deal prior to the auction. Foreclosures.com charges approx. $70 for their list and it’s very current and up-to-date.