Courthouse Research yeilds Private Investors

I just read your post about Courthouse Research yields Private Investors. I went to dataquick.com, and found it to be Very interesting. I plan on going through this resource in more detail this weekend. Thanks for this information.
Bruce...

This is a very useful strategy to have (and utilize) in order to find investors in your area. I've also utilized this strategy in researching IRA owners as well who bought properties with cash. However, when I spoke to the IRA owners, some were irritated that I actually found them. Most of them did welcome the idea of getting into your VIP list. Overall ... this is a very useful tool to know and have. Thanks for sharing the thought and strategy.

Thanks derling for the info. I use to go to my county court house but I never knew or thought about looking for investors there. I did in fact speak to an office clerk in the Assessors office and was able to get their web site. With this I can gain some valuable information also. For example I was able to find "parcel numbers", these are finger prints for property. Each one has its own unique number. Also this site gives me the owner on record, tax information, legal description, unit and land value, and what they have over all asset the property to be worth. I hope this info will be helpful to some one else. Again thanks for the info and the web site.
lbrown

What specificly are you looking for? What do you ask the courthouse for?

that was great input and makes alot of sense thanks for the input

This is some hearty info although I'm not a courthouse diver, I will definitely dig into this. Thanks

Thanks for the great info, this is something we all can benefit from.

That is an EXCELENT info.
Like i had said many times before,
The books are greats the web is great , my life is getting better.

Woowwww that is good and getting better
Angelo

I read part of your post and printed it out to finish reading tomorrow when it is raining. I have a couple to read tomorrow. Thank you for the info I really appreciate the posts from all the members. There are some really informative and detailed (so I can understand) posts.
Thanks
Lance

I saw your last post and am wondering where in RI. are you from. I am also new to this REI and live in Blackstone Ma. and am looking to find some local people in my area interested in Real Estate Investing my email is djcappy1@**** if you want to talk about this exciting game of Real Estate. keep up the great job.

Dean

that is great info thank you much, sounds like a great source.

another great source for leads

Thank you

Fred E

The research source (courthouse) is a gem! However, my question is: Do you physically go to the county courthouse or is there a way to do the research on-line? Also, what do I say to the buyer once she/he is contacted about how I got the private information (phone)?

From reading many posts and articles on this site my understanding is that some, but not all, counties have their records posted online. You can do a search on Google for the name of your county and state and "office of the recorder" or "county clerk" or "register of deeds" (whichever name your county calls it) and see if it's posted or not. You could also just call them and ask if they have a website and if so, what the address is. Many times, it's more prudent to actually go to the office itself since they may take a while to upload all the new information to their site.
I hope this helps. Good luck and much success to all!

Rick888

You will look for these documents and narrow the search to ones with the grantee, mortgagee, or beneficiary listing a Trust, Private name, or Maybe even what seems like a small company. These are the people who own the right to recieve payments for debt secured to that property via this document. Most security instruments will include at least some details of the original note.

In most cases, you will start to see repeating names with this search...these are the heaviy hitters in your area.

I have also contact some of the local self directed IRA administrators and told them what I do and what I have to offer their clients. I have networked with local self directed IRA groups and joined these groups online too to network to find private investors.

I have used the FREE service www.netronline.com to find courthouses online. Once on the website you will click on the second link to the side of the map and it wil bring up a clickable map of the US then you can click on your state and then use the scroll bar to find the county and then click on it. It will show you what is available online. If it is an online searchable database, you will see go to dataonline or by subscription only. Some of the by subscription only are free but most will require that you pay a fee to gain access to some if not all of the information on their website.

The majority of the courthouses will only include the name and address of the private investor. You will most likely need to create some sort of letter, postcard, or brochure to send to them at this address.

You might find them using one of the whitepage search engines online too, so you can obtain their phone number.

You can state that you understand that they are investing in real estate and you are looking for other investors to network with in the local area. You can tell them what you do and what you can do for them. It is a great way to segway into the rest of your conversation. It is all about them!!!!

Thank you for the great information and resource

Court house research yeilds private investors. This is really good info, and just the thing that I need to take action on to start building my own data base of investors.I would also like to thank every DG famly members for all of the posting. there is alot here that I can apply, too what I have in mind, to formulate a viable, creative plan of action. There is so much here for me
to keep me Again just simply thanks DG FAMILY

if u are using a lease option to purchase the can u sale it in the lease period or do u have to wait until the house is paid off first before u sell it

Hey everyone,

I think I found my online public records, but I'm not sure if I can find what I need from this site. Can anyone else check this link to confirm if this is what I'm looking for? Thanks ahead of time for helping me with my ignorance!

http://records.mercercounty.org/ProdPRESS/Clerk/ClerkHome.aspx?op=basic

Vincent

miltongbarbea660 the answer would be that you can do a sandwich lease option.

A sandwich lease option could be defined as the following:
Let’s take this step by step—an “Option” is the right to do something. You may purchase the right to buy a certain property on or before a specified date. For example I may give you $1,000.00 for the option to buy one acre of land for the price of $20,000.00 before the end of this month. I do not have to buy the property--but if I don’t buy it you get to keep the $1,000.00 and the property. You do have to sell me the property for the $20,000.00 if I choose to exercise my option.

A “Lease” is when you agree to make payments to use something for a period of time. I might lease your car for three months for $400.00 per month. At the end of the 3 months you get your car back and I start walking again.

A “Sandwich Lease Option” is when I pay you for the option to purchase a piece of property and sign a lease to use that property during the time of the option. If I then sell my option to someone else and sublease it to them—that is a “Sandwich Lease Option”. I am sandwiched between you--the seller and my buyer.

I hope that helps.

Dean,
Thanks to you for all the magnificent techniques and strategies you continue to share with us on how to jumpstart our business.Sorry I wasn't able to comment on your blog with you and Mr. Jensen. I am so excited about how to go about getting buyers, however,I am in St. Louis for the next week and can't stop talking about real estate investment.I had to rid myself of some obstacles, now I am ready for January 2010. Thank you so much. Keep it coming! Ed

Hi, my name is Greg and I am very new to this. I have had Deans book "Be a real estate millionaire" for about a year and a half now and I have read it twice and I'm still not getting the whole picture or I'm just afraid that I might not know what I'm talking about or that I might make a real estate purchase and dig myself into a big whole mess.

I just recently got on Deans website and read through some of yours questions and answers and sat back and thought that if all the people in DG family can do it and that if they will help me with questions that I might have then, maybe I have a chance to be successful like they are.

So here is my first Lease option deal:

I have found a house in my neighborhood that has a for sale sign on it and when I called on it and talked to the seller agent and asked some question on it and come to find out that the seller has moved and renters are in the home as we speak. I asked him if the seller would be interested in a lease option and he said that that might work if the seller agrees on the contract. He also said that the seller just wants to sell the house or just get a income coming in to just cover the mortgage. I told him that I would write up a offer and set up a time where I can actually walk through the house to get a better look so that I can come up with a offer.

- House currently has a renter
- listing @ $ 185,000
- On market for 3 months

Please help on what I should do next because this sounds like it might be a good deal if I can come up with some creative ideas like leasing it out to the same renters and making a little profit a month until the economy picks back up and then sell it for a profit.

Thanks

Greg

Greg,
Here are a few pointers on what to look into and for on this deal.

Is the property worth $185,000? Have the agent listing the property come up with sales comps for the area with similar properties that have sold within the last 3 to 6 months. It will give you a good idea of whether it is priced right or not.

What does the seller need your lease option payment to be each month? Does the lot rent the current tenants are paying cover this? If they move out will the market rent cover this amount? You should look for a spread of at least $100 after your expenses.

Are the underlying mortgages current or in arrears? If in arrears, you will need to determine how far in the hole they are and what it will cost to bring the loan current. Is it worth it with all of that? Can it be saved still or is foreclosure around the corner? Check that the taxes have been paid too.

YOu will want to make sure they set up an escrow account with you, so you can make sure the mortgage, taxes and insurance are being paid on the property.

I hope this helps.

This is a great way to find info on private investors to build your list if you know how to navagate through it, I have been to the site in my county but came to a dead stop where it asks for the instrament #,Liber,page,etc. Once past that page it asks for Municipality/Subdivision/Condo and so on. I don't have this info or understand it yet so I am at a dead stop. any help with this would be greatful, thanks James

Some courthouse databases are easier to navigate then others. There are quite a few that will limit your access and the amount of informaiton you can pull from a remote site. In most cases, if you go into the courthouse and do the searches you will have access to more or more complete information.

I have done searches in mnay courthouses throughout the US. I have found that many of them will offer different tabs you can choose to do your searches or advanced searches you can opt to use. The main thing you are looking for is the location where you can search the documents. In many cases, you will not be required to enter in all the informaiton, but you can select a document (mortgage, Deed of Trust, or TRust Deed), a date range, and maybe a party name. The party name could be the first few letters of a peersons last name or a common last name for your area. I have performed searches in this fashion and I have had some great results. Like I said before, in some databases this is easier to do than others.

I have even gone to data mining companies and paid for them to pull the information for me. I have had local title companies do the same thing for me too.
I hope this helps.

I also found that if you search the auction sites and look at all the properties that sold, you can research who bought the property and call them to see if they are looking for additional property.

I plan gathering their requirements and roll with this.