Drive the city/town/area you would like to invest in and look for boarded up houses. The challenge here is to find toe owners of these properties... Use all kinds of resources to do this: Tax records, mailing address, online resources, skip tracing!
I once heard - "The harder it is to find the owner, the better the deal!"
CJ's comment was an excellent one! let the nice houses raise the value of your homje. I like the worst house on the block as the others will raise its value beyond the rehab.
[addsig]
That would be a good way to start I think. Maybe practice in the mirror, something along the lines of HI, I am an investor and would like to by your house. I can pay cash etc. etc. etc.
[addsig]
In my market, I have found it easier to get beginners started on classified ads and direct mail.
I have heard investors having very good success with RE agents they have good relationships with. Once you establish these relationships, you can get pocket listings. I haven't had any luck with this approach yet, but I know people are successfully doing it.
it also depends on how much rehabbing you are wanting to do. heavy rhs. can be seen from drivng around because of outside appearence. "lighter" rehabbs. if that is what you seek {carpet, painting, wallpaper, ect.} may not always be evident from the outside. these can sometimes offer great profit vs. time deals. these take more "looking" you ,of course, have to go inside but can be found by the same means.....kenmax
Check to see if your city keeps a "red tag" list. This would be all of the houses in town that the city has red tagged as being unfit for occupancy.
It costs me $2:00 and a trip downtown to get a nice printout of all the boarded up houses.
it can be any one, the paper, realtors, friends, other investors, make it known you are in the market and the deals will come
John
A good Realtor, the MLS if you can get access and the Sunday paper. Our Sunday paper has a real estate section with bank owned sections
Drive the city/town/area you would like to invest in and look for boarded up houses. The challenge here is to find toe owners of these properties... Use all kinds of resources to do this: Tax records, mailing address, online resources, skip tracing!
I once heard - "The harder it is to find the owner, the better the deal!"
Good Luck!
[addsig]
CJ's comment was an excellent one! let the nice houses raise the value of your homje. I like the worst house on the block as the others will raise its value beyond the rehab.
[addsig]
what is the best way of contacting the owner? just calling them? and then what do you say? i am interested in buying your house?
is that it?
That would be a good way to start I think. Maybe practice in the mirror, something along the lines of HI, I am an investor and would like to by your house. I can pay cash etc. etc. etc.
[addsig]
In my market, I have found it easier to get beginners started on classified ads and direct mail.
I have heard investors having very good success with RE agents they have good relationships with. Once you establish these relationships, you can get pocket listings. I haven't had any luck with this approach yet, but I know people are successfully doing it.
John
Thanks to everyone for your thoughts. A lot of good suggestions to consider.
it also depends on how much rehabbing you are wanting to do. heavy rhs. can be seen from drivng around because of outside appearence. "lighter" rehabbs. if that is what you seek {carpet, painting, wallpaper, ect.} may not always be evident from the outside. these can sometimes offer great profit vs. time deals. these take more "looking" you ,of course, have to go inside but can be found by the same means.....kenmax
Check to see if your city keeps a "red tag" list. This would be all of the houses in town that the city has red tagged as being unfit for occupancy.
It costs me $2:00 and a trip downtown to get a nice printout of all the boarded up houses.
Good luck!!!