OfflineHello DG family. I've been lurking around the site since I first received my book and have found a ton of good info. The one thing I can't find though is, how do you find the properties when you are first starting out? Do you use a realitor, do you go out into your target areas and scout properties yourself, do you advertise for bird dogs, etc.?
My main interests are wholesaling and flipping and then eventually adding rentals as well. I just really am stuck when it comes to locating the good deals. Any help would be much appreciated. I'm located about 20-30 minutes north of Houston, TX.
Thanks,
Jamie
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I haven't even gotten the books yet and I have already found 4 candidates.
I found one on my local REI club site, FMV $300,000 + Repairs / $55,000 (sounds high actually) asking price, $174,000
I found one on foreclosure.com (subscription site but worth the dough)
I found another on Realtor.com, this one is interesting, 4.35 acres with an abandoned foundation, installed septic and well, $279,000. Much too much but when I went to look at it, I found it's a split lot with an existing house on site that looks like a real dump. Asked the listing agent about buying both the land AND the house (which is not for sale) as having that crappy dump in front of a potential new home is unacceptable so I asked the agent and he said (in an email) that the whole thing is available as a package and that there were many interesting things about the house.....I am waiting for a call back to find out about the interesting things.
Then I found another right around the corner from me. 2BR/ 1400ft listing at $187.000 in an area of $250,000 comps, looks shabby but not horrible.
bottom line, there freaking everywhere!
Hi there
My name is Anita and I have a suggestion. If you are using your MLS service do a search for houses under say....70K and go from there. If you are in a low end priced market look for things in lower bracket, in good hape nd that you would think someone else would want to purchase
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
craigslist, local rei groups, local newsparer, thrifty sales papers and the most powerful of all----- WORD OF MOUTH
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
I found one on my local REI club site, FMV $300,000 + Repairs / $55,000 (sounds high actually) asking price, $174,000
I found one on foreclosure.com (subscription site but worth the dough)
I found another on Realtor.com, this one is interesting, 4.35 acres with an abandoned foundation, installed septic and well, $279,000. Much too much but when I went to look at it, I found it's a split lot with an existing house on site that looks like a real dump. Asked the listing agent about buying both the land AND the house (which is not for sale) as having that crappy dump in front of a potential new home is unacceptable so I asked the agent and he said (in an email) that the whole thing is available as a package and that there were many interesting things about the house.....I am waiting for a call back to find out about the interesting things.
Then I found another right around the corner from me. 2BR/ 1400ft listing at $187.000 in an area of $250,000 comps, looks shabby but not horrible.
bottom line, there freaking everywhere!
That's awesome rberry61! Maybe I'm just looking in the wrong places. I figured the MLS and other realitor ran sites wouldn't be a good place to look but I'll look into those from now on. Where do you pull your comps from? I've tried zillow and other sites like it but it seems the area I'm in just isn't showing much of anything for comps.
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My name is Anita and I have a suggestion. If you are using your MLS service do a search for houses under say....70K and go from there. If you are in a low end priced market look for things in lower bracket, in good hape nd that you would think someone else would want to purchase
Excellent idea Anita, I'll give that a try.. Thanks
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I check out craigslist quite a bit but how do you decide whats wroth looking at and what isn't?
Do you need web hosting for you REI site? Come check us out at http://hostgladiator.com
thats where YOU set up your criteria and decide what you are looking for in properties. Such as 4br/2+ baths, 1800sq/ft or more and RV access w/fireplace...
Get the picture. That way you narro down your search and you have more of a choice to pick from and dont have to think so hard about where and what to start with
Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
Hi im new to the DG family too and i havent recieved my book yet but just looking around the site and see lots of great info. Can't wait to get started.
-spyang
-spyang