I’m a shy person but I need to find out how to 1) learn to do a title search 2) learn how to write a contract.
I first started being interested in real estate in the mid 80’s and have purchased 4 or 5 home study courses. They are a great source of ideas and information for learning the possiblities of what can be done. My problems have always been credit and financing (which I still have) so I have never done anything to get started. But a few weeks ago I started to look at this site and a few others and have ignited the fire again of thinking big. I did do about 1.5 years of going to the court house steps and watching foreclosures and then looking up information at the recorders office. I thought there was at least 4 super deals a month but never opened my mouth to people who would have the anwsers to questions I had so I’m wanting to try again. Can someone help?
Big D:
In terms of doing a title search, no big deal. Just contact your local title rep for First American Title or
Commonwealth Title and tell the you are an investor and ask them what type of deal on your title insurance policies they can give you. Also, ask them if they will give you access to run a “Property Profile” from your own computer using “FastWeb” or “Niteowl Plus.net” using your own computer.
If you establish a relationship with them, they should give you access to all of this as well as a “Preliminary Title Search” for free.
I would concentrate on ‘wholesaling’ properties first Big-D. You do not need money or credit to do this. Simply tie-up and assign. There are some great courses on this site to learn how to do this.
This is also a fortune sitting in your backyard right now. Get out there and start “Driving For Dollars” and write down all the addresses of all the vacant, boarded up or distressed looking properties. Research the owners and send them a letter followed up with another letter 14 days later:
“Hi it’s me, Big-D again. I sent you a letter two weeks ago. I am still very interested in buying your property from you. I am an investor and own a couple properties in the area. I can pay cash, close quickly and will handle all repairs. I will also take the property with the existing tenants even if they are not paying rent.”
So get out there and start finding some deals so you can ‘wholesale’ to other investor’s and make some
serious money.
Best Regards,
Jeff Adam