Investor? Yes; Property? No Heeellppp!!

You could drive your city and look for (For Sale by Owner) signs in yards and contact the sellers by phone and find out asking price and FMV. If FMV is much higher than asking price make an offer of about 30% below asking price. You might have to go a little higher to have it accepted though. When accepted contact buyer and assign it to him. Sell to the buyer $10,000 higher than seller`s accepted price.

Is a treasure chest of information. You can find probates, foreclosures, divorces, and out of town landlords... Just a ton of good information for investors there. Spend a day down there and get as much info as you can. Call for rent ads, see if they might want to sell, drive neighborhoods, do it all if you have an investor interested that's half the battle!

Contact a Real Estate agent tell them that your looking to invest in properties,and ask them to sent you MLS listings on the types of property your investor buyer is looking for and take it from there.Hope this helps you.

whurndon
H&H PROPERTY SOLUTIONS LLC

start driving your neighborhoods, read and call on all of the ads in local papers ever call the rents and ask the owners if they want to sell. the more you are out ther the more you will find. L

good luck and keep us posted

You have to search for deals where no one else is looking. The best deals are those that are sitting right in your back yard. Many wholesalers have day jobs and are not able to bird dog the streets in search of a deal. This is why they search endlessly on the Internet for their deals. You better believe that every deal posted on craigslist is getting emails or phone calls by wholesalers. Why even get caught up in this competition when there are so many deals waiting to be discovered right in your neighborhood.

I am not suggesting that you spend your whole day driving around. Simply leaving 30 minutes earlier for work or taking another route home to drive down side streets is enough to find a great deal. Make sure you keep your camera in the car so you can readily take pictures when you find a vacant property. Write down the address and research the owner when you get home.

Get the owner’s name from the tax records and hopefully their address and phone number from one of the owner research resources that I have placed in the side bar for you. Research the ARV of the property (again in the resource section) to find out what the property is worth. Many of the ARV sites will also tell you how much they paid for the property and when they purchased it. This amount can change if they refinanced the property. So don’t depend on the purchase price being the amount they owe on the property.

Contact the owner and find out if the property is for sale. Ask them to give you the least amount they would take for the property if you paid cash and closed in 30 days. Once you get their price (don’t agree on the price yet) ask to schedule a time to see the property. Go look at the property, estimate repair costs and tell them you will get back to them in 24 hours. Now go and put your deal together. If it seems like it is a good deal then call the seller and meet with them to have them sign a purchase agreement.

Now take it to your buyer and make some money

Hi Carol, WOW $50,000 way to go !
What I wanted to comment on was the ARV I always thought it to be the after repair value, where we had to supply an estimated value of the home after rehab. Reading the ARV in your posting leads me to think that the ARV I can found on the tax assessors website, with the most recent purchase date and cost of the house. I am reading the BARM and Your Town right now so I can play catch up to everyone else in the DG Family.

Keep up the Great Work Carol!

Bill G.

You guys are wonderful, I didn't expect this many responses in so little time, but last night I was extremely jammed as to what I would do to find a property for my investor. I am off of work today and will be in the area where he wants to buy so I have plenty of time to search for property. I'll pursue that route being as though I have the time to do it and it seems like a great way to dodge a lot of competition.

Question: When looking for great deals, how can you tell if a property is vacant, is it the obvious clues (lack of upkeep and maintenance) or other things I should look for?

Question 2: Also this area of New Jersey has lots of 2 and 3 family houses which is what my investor wants. Is it common to find many of these vacant?

Lastly, I thank you all one again because DG.com is the real deal, a real family of everyone wanting to seeing everyone do more. Thanks once again and God bless us all!

One more thing guys. After spending some time on zillow.com I see properties under recently sold that have sold for literally pennies, I guess these being the more aggressive investors making low offers that were accepted. Some have sold for a lot more being similar property. Is this a way to go or just an example that you can really get an awesome deal if you know what you want. God bless!

What you see on Zillow, you can not tell if that property was purchased by an Investor or a Home owner. Don't rely 100% of your Comps. Most of the time, I go to totalviewrealestate.com because they have a window that shows you the comps in the area. I like to choose the comps of year 2010 or at list 2-3 months prior. Then I will go to Property/tax record and find out if it's the principal owner who lives. Blessings to all. LA

Signs that a house is vacant are lack of up keep (high grass, no snow shoveled etc...), newspaper collection on steps,You can peek in the mailbox and see if the mail is being collected since some people do not leave forwarding address. To be certain that a property is vacant I always drive by it again when it gets dark. If there are no lights on and signs of no electric chances are the property is vacant.

It is not common to find 2 and 3 family properties vacant. But anything is possible.

Hope this helps

Hi folks,

I too am trying to figure out this business as a newbie. So, let's say I talk to a FSBO and find out that they are looking to get $100K for their home. I then contact an investor and tell him that I have a property available for $110K. Wouldn't he obviously want to know the address of said property? Once he knows that, won't he just go directly to the owner and cut me out of the deal?? How does this work?

Bill Stone
781-267-0693

Bill,

Don't tell your investor about the property until you have it under contract with the seller. Then you can't possibly be cut out of the deal.

Vincent

Hey Deshone,

Here's a thread I made about things to look for when you're hunting for vacant properties. Hope this helps!

http://www.deangraziosi.com/real-estate-forums/buying-foreclosures-reos-...

Vincent

Ok I went driving today and have a list of about 13 properties that I think could be vacant and one fsbo that is just not taking care of his property. First, now that I have the addresses, who do I need to contact to find out about these properties? Second, how should I go about contacting the owner of the fsbo? Also I have been writing down tons of numbers from "WE Buy Houses Cash" signs. I have 11 so far. What is a good conversation to have when initially contacting them? The 2 investors I've found so far have both come from Craigslist. Thanks in advance everyone for all the help. God bless!!!

Loved that thread Vincent, lots of tips. Wish I would have read that before I went out, but it was still productive. Next time maybe we can double the results. Thanks

Deshone

Deshone,

You're welcome! Glad it can help!

First, the vacant properties. If they are all in the same town, go to your town's tax assessor's office. They will have the public records for all the town's properties there. Ask the people working at the office if you can look at the public property records, AND ALSO ASK IF THEY HAVE THE RECORDS ONLINE! That will save you lots of time. Search online and see if your township's website has the public records online. In the tax records, you'll find the owner's name and address.

Regarding the FSBO, just call them up, ask them to tell you about the property. Let them talk, take notes. When they're done, ask them if you can call back. When you're done, come back here and post what info you get on the property.

Vincent

The info on hunting for vacant properties is really good. I also am looking in my area.

Regina

Keep pushing forward

You're welcome, Regina! You should find some of your best gems by neighborhood hunting.

Vincent

Also make sure you are constantly calling on properties that are for sale from any source. They don't even have to say they are motivated. Over time, you should have a good database of people looking to sell. It may not even be what you expect, but you have to have as many options coming at you as you can. That's why the buyer needs your services, he can't look at that many deals and filter them all. You need to be that filter for him. Good luck!!!