It wasn't too long ago that I had just asked this question myself.
You find some of the best deals in places very few investors know of.
Places like the courthouse (probate, bankruptcy, and divource notices, and using tax records to locate potential out of town owners with abandoned houses.).
I heard you can find deals with expired MLS listings, though I'm not sure.
These are just some of the places to find the best deals.
Best of luck.
Hi:
If any of us had a definitive answer to that question we would be in Tahiti enjoying all of our cash rather than cruising this board! lol. That is the biggest challenge when doing rei is formulating an effective strategy to find deals. I would research and then try a marketing campaign out. Trial and error will be the best method for a while.
In all the world, I find that here, in close, to my little back yard which contains the cement mixer, the five sheets of ply and the table saw plus of course the numerous ladders and oh yes my book of how to learn Spanish without throwing your elbow out. Or swallowing your toungue.
The area, and it is not easy, is the San Fernando Valley, East end extending to the north to Sunland and then across towards the West.
You buy the Retran default service which gives you more information then you can use and you knock on doors at three different intervals during the NOD time. First knock within three days of the filing. Next knock about the second month and the third knock is about three days after to recordation of the Notice of Trustee Sale.
You must be prepared to solve any problem that you will experience. Buy prop, sell prop, refinance prop. Split title to beef credit so you can refin. Hard money second to cure. You must be capable for rehab, cause you will see some that look like a change of wind and you will have a vacant lot.
You must be prepared to develop and inplace a second house on a John Doe lot split. In other words, you must be all things to all persons. You must be really capable.
I cannot begin to tell you the terrible goofs I did while I OJT(On Job Training) Talk about stupid. The time I froze and could not even remember my own name much less theirs. The time I dropped the Retran slip and knew nothing about the property and accordingly could just stand there dummy style.
I sometimes think that you should be able to part the Red Sea and let those Jews and wanna be future Christians pass.
Now if you like, just start in and learn. My own feeling in the matter is please, please prepare yourself. Read, read, and then do it again. Call REO's their small talk is challenging, but buried in all that attitude is something to be learned. You should go to the Title Company and check them out. Take the grand tour and most important, take notes as to the information flow as it is gathered from files and presented into final policy. Check the timing on deeds, that will tell you when to run to record and when you should wait a day or so there are reasons.
Oh Hell I will be here all day. Go talk to the Gurus, they are entertaining and most of all talk to the John Lock's who when they are not wandering the world in a mobile home, actualy on occasion do this type of stuff.
Learn, learn the area of your operation. Become known as the big time saviour of the downtroden, non conforming, wanna be nomads, Socialy challenged. Those who imitate Joe Bifstake in Little Abners long gone cartoon. You know the one that had a permanent little cloud over his head and a drippy nose. Now thats your man. They are everywhere. God I wish they would get out of my guest house. I can't charge him rent cause he had a triple Bipass and has been living on it ever since. But there is your classic. Spend an afternoon with him and you will learn about the non performing members of our great society.
I often wonder what the philosophers of the Age of Enlightenment would say if they could see what is going on today. Voltaire baby, get up to date. Ring a doorbell.
Ah well, back to Containers into Housing at least they do not talk back. Luv
Recently I have found some very attractive HUD homes in newer neighborhoods. Individuals overpay for builder homes with FHA loans, then taxes are assessed a year later and they end up losing it. Then HUD cannot sell them for appraised value because they are too new. The most recent house I bought was small, but did have 3 bedrooms and 2 full baths. I paid $59k, plus about $2k in cleanup and repair costs, got an appraisal for $79k and it's renting for $775/month. The best part is that it's only five years old!
please start checking your backyard. The columbia, laurel, bowie areasare full of deals due to the military base presence. Military families are in constant transit and movement year round. Also, you live next to one of hottest rei areas in the country, baltimore city and county. please start checking your local county newspapers and www.foreclosure.com and www.bargain.com for available properties in your area. If you have any questions, please pm me. my office is in laurel, md. happy investing.
[addsig]
please start checking your backyard. The columbia, laurel, bowie areasare full of deals due to the military base presence. Military families are in constant transit and movement year round. Also, you live next to one of hottest rei areas in the country, baltimore city and county. please start checking your local county newspapers and ****Must Reach Freshman Investor status before posting URL's*** and ****Must Reach Freshman Investor status before posting URL's*** for available properties in your area. If you have any questions, please pm me. my office is in laurel, md. happy investing.
_________________
I think the best deals are just about to burst through the door.
The Feds are going to raise the interest rates in June or so, and people are overleveraged with their recent refinancing. They haven't learned how to manage money, so they will spend themselves right out of their homes.
Foreclosures have doubled in the last week alone in my city.
Patience is difficult, but it is a virtue.
Borrow now, spend later.
The best ones are the ones that find you.....after you advertise for them.
hi ( :
It wasn't too long ago that I had just asked this question myself.
You find some of the best deals in places very few investors know of.
Places like the courthouse (probate, bankruptcy, and divource notices, and using tax records to locate potential out of town owners with abandoned houses.).
I heard you can find deals with expired MLS listings, though I'm not sure.
These are just some of the places to find the best deals.
Best of luck.
Hi:
If any of us had a definitive answer to that question we would be in Tahiti enjoying all of our cash rather than cruising this board! lol. That is the biggest challenge when doing rei is formulating an effective strategy to find deals. I would research and then try a marketing campaign out. Trial and error will be the best method for a while.
Good Luck!
In all the world, I find that here, in close, to my little back yard which contains the cement mixer, the five sheets of ply and the table saw plus of course the numerous ladders and oh yes my book of how to learn Spanish without throwing your elbow out. Or swallowing your toungue.
The area, and it is not easy, is the San Fernando Valley, East end extending to the north to Sunland and then across towards the West.
You buy the Retran default service which gives you more information then you can use and you knock on doors at three different intervals during the NOD time. First knock within three days of the filing. Next knock about the second month and the third knock is about three days after to recordation of the Notice of Trustee Sale.
You must be prepared to solve any problem that you will experience. Buy prop, sell prop, refinance prop. Split title to beef credit so you can refin. Hard money second to cure. You must be capable for rehab, cause you will see some that look like a change of wind and you will have a vacant lot.
You must be prepared to develop and inplace a second house on a John Doe lot split. In other words, you must be all things to all persons. You must be really capable.
I cannot begin to tell you the terrible goofs I did while I OJT(On Job Training) Talk about stupid. The time I froze and could not even remember my own name much less theirs. The time I dropped the Retran slip and knew nothing about the property and accordingly could just stand there dummy style.
I sometimes think that you should be able to part the Red Sea and let those Jews and wanna be future Christians pass.
Now if you like, just start in and learn. My own feeling in the matter is please, please prepare yourself. Read, read, and then do it again. Call REO's their small talk is challenging, but buried in all that attitude is something to be learned. You should go to the Title Company and check them out. Take the grand tour and most important, take notes as to the information flow as it is gathered from files and presented into final policy. Check the timing on deeds, that will tell you when to run to record and when you should wait a day or so there are reasons.
Oh Hell I will be here all day. Go talk to the Gurus, they are entertaining and most of all talk to the John Lock's who when they are not wandering the world in a mobile home, actualy on occasion do this type of stuff.
Learn, learn the area of your operation. Become known as the big time saviour of the downtroden, non conforming, wanna be nomads, Socialy challenged. Those who imitate Joe Bifstake in Little Abners long gone cartoon. You know the one that had a permanent little cloud over his head and a drippy nose. Now thats your man. They are everywhere. God I wish they would get out of my guest house. I can't charge him rent cause he had a triple Bipass and has been living on it ever since. But there is your classic. Spend an afternoon with him and you will learn about the non performing members of our great society.
I often wonder what the philosophers of the Age of Enlightenment would say if they could see what is going on today. Voltaire baby, get up to date. Ring a doorbell.
Ah well, back to Containers into Housing at least they do not talk back. Luv
Shouting. Lucius
What is Retran and NOD?
Brenda
NOD stands for Notice of Default also known as Lis Pendens.
Recently I have found some very attractive HUD homes in newer neighborhoods. Individuals overpay for builder homes with FHA loans, then taxes are assessed a year later and they end up losing it. Then HUD cannot sell them for appraised value because they are too new. The most recent house I bought was small, but did have 3 bedrooms and 2 full baths. I paid $59k, plus about $2k in cleanup and repair costs, got an appraisal for $79k and it's renting for $775/month. The best part is that it's only five years old!
hi soul_controller,
please start checking your backyard. The columbia, laurel, bowie areasare full of deals due to the military base presence. Military families are in constant transit and movement year round. Also, you live next to one of hottest rei areas in the country, baltimore city and county. please start checking your local county newspapers and www.foreclosure.com and www.bargain.com for available properties in your area. If you have any questions, please pm me. my office is in laurel, md. happy investing.
[addsig]
chancebunger...
Looks like you got a pretty good deal...good cash flow and having the renters build up your equity. Don't you love real estate? I know I do
Q
Sideeq,
Do you recommend both sites?
please start checking your backyard. The columbia, laurel, bowie areasare full of deals due to the military base presence. Military families are in constant transit and movement year round. Also, you live next to one of hottest rei areas in the country, baltimore city and county. please start checking your local county newspapers and ****Must Reach Freshman Investor status before posting URL's*** and ****Must Reach Freshman Investor status before posting URL's*** for available properties in your area. If you have any questions, please pm me. my office is in laurel, md. happy investing.
_________________
I think the best deals are just about to burst through the door.
The Feds are going to raise the interest rates in June or so, and people are overleveraged with their recent refinancing. They haven't learned how to manage money, so they will spend themselves right out of their homes.
Foreclosures have doubled in the last week alone in my city.
Patience is difficult, but it is a virtue.
Borrow now, spend later.
MarleneM
Marlene,
What do you think of the two sites recommended by Siddeeq1424??
Thanks