Question about 30 Days to Real Estate Cash

This is a repost from the wonderful and informative kareng. This question has been asked many times so this is what she posted in response. I hope this helps. It sure helped me!

"Cash Buyers List From Real Estate Agents
Quote from original post on this listing.

"One thing I need help with is finding out how to find the addresses of people who have bought properties with cash in the last 90 days. I live in Michigan. The book says to contact real estate agents and get the names and/or property addresses that were purchased and then find the tax records using that information. That would work great, except the agents I contacted have not sent me that information yet. I don't actually think they know how to find it."
Many people ask this same question. "How do I get an agent to get this information for me in a timely manor?" I have done this with real estate agents all over the country and it works every time. As you are talking with your agent about properties and as you are developing a relationship with them, here is a way that you can get this information from them very easy.

If you just ask them to get you a list of cash buyers from the MLS, you will get a bunch of blank stares, or they will say "sure no problem" then you will find yourself waiting and waiting with no success and no list.......

Instead, ask them this way. Ask the following questions by making statements of fact to the agent.

1- "you know how when a property sells that is listed on the MLS there is a place where the agent has to check if the property was purchased using Financing, or Cash? (the agent will say yes to this if they have ever closed a deal because they had to do this).

2- I then tell them "and you know how the MLS is one big database where you can search for information using a ton of different criteria right? (they will always respond yes to this one if they have ever closed a deal again)

3- I tell them "I need you to do something for me". "I need you to run a search using the main criteria,,,, Properties that sold using CASH as the way of financing and get me the addresses to the property. Doing this works every time.
I have found that in some areas like Ohio, once a property has been sold for at least 90 days, the name of the buyer is released to the MLS and they can give it to you because it is public record. In other states, you can still easily search county records for names of buyers if you enter the address of the property.

Using this strategy works great and it helps to teach the agent how to do the search for you without making them feel like you are talking down to them.

Also if you go to the webiste "findcompsnow" you can enter an address and it will show you a list of properties sold cash recently. It gives all of the information on the cash buyer! Check it out and let me know what you think.

Good luck. I received all of this information from other helpful postings on this site.

Michelle

Don't give up or delay; but find a way to get that information. The findcompsnow may help, but you should also do as Thomas mentioned and contact others in your state. Watch Dean's motivational vidoes, especially this week's and realize you have to change your mindset to think outside of the box and not give up or let obstacles defeat you. Watch the video now is my first suggestion. You will find a way, even if you have to pay someone or barter with them to go to the courthouse for you. Don't know if your state has the info online, but this is also why you need to do a little research or ask others in your state. Best wishes!! The knee is not a factor, you will find a way!

I think that you being a real estate agent, and having access to the MLS, already gives you access to all the information you need; just look for properties that were sold 'cash'; most of the buyers will be investors, although there are also lots of people who are paying cash for the homes that they live in, so you will have to look for clues, like LLC's, multiple purchases by same person, etc.

use your 'down time' to do all the research; there is so much information online!

wishing you success,

Michelle, that was an excellent sum of information.
Thank you
Raymond

Where I live in FL, you can search props by name or address. What I did was first search the address from the cash sold list from my agent on the county appraiser's site to get the name. I then did a second search for that name. The ones that had more than 1 prop in the county are the investors. If your county doesn't offer this search, try the tax collector's site. If neither of these is available, you'll need to go to the courthouse. (Once your knee heals. )
If you have access to the MLS and cash solds list, you should be able to get the info you need right from your computer. Call your MLS helpline if you don't know how to use the cash sold filter.

Hope this helps...

Andy Sager
DG's AndyS
CFIC member

Thank you Michelle for this valuable information! Yes, we also learn from Reading Dean's books and taking ACTION!