Breaking Into Preforclosure Market
Hey Gang!
I am a newbie to this site, and very excited to see all the topics and posts. I have a high-end investment property that I purchased 12 years ago. Now I am looking to buy low cost investment properties to prepare for retirement. My area is San Diego, and I have been looking in some lower cost areas of town but the multiple family dwellings I see on the MLS are dumps.
So here I am, thinking about preforclosures. How might I find out if any multiple families are in preforclosure in San Diego?
You should advertise or go look at some multfamilies you like, track down the owners and send them a letter or call asking if they'd be interested in selling.
Thanks for your reply.
I hope to look up property owners. I know the neighborhoods and can look up street adresses. Would I need to go to the county clerk's office to get the names of owners? Do they allow us to look up owners of property if we have a street name that interests us?
If I were to advertise, which section of the newsppaer would I ask for?
Thank you for your time.
MarleneM
Thank you,
Marlene
Talk to the recorders office. Find out if you can look up the "notice of Defaults" given for multifamly properties.
you could always advertise in the "real estate wanted" section of the newspaper.
good luck
You folks are terrific. I'll go to the recorder's office and put an ad in the paper, too. Then I'll let you know what happens.
Thanks!
MarleneM
Lookup the AOA, Apartment Owner's Association. They publish a magazine with lenders and agents that have multifamily units available. Joining is cheap, and they'd help you a lot. You can also run your credit checks on tennants through them. -MakoShark
Wow! That is a great lead. I just checked out their website, and their services are terrific. It cost $79 to join for a year - so I joined imemdiately.
Thank you for the help!
Marlene
Hey Marlene, glad I could help. Their mag always lists units available and the lenders to finance them as well. Glad I could help you. -MakoShark
Ken at KenFleming dotcom