I Need To Get My First Property!
Hi, I am frustrated. I can't decide how to purchas my first property. I have been "going to do this" for about 6 months but I just can't get started. Should I buy a fixer upper, or go for the new model home and resell?
I am posting here to ask where do I find my local foreclosure listing.
If I can just get that first one under my belt! If your experience can help me I would greatly appreciate it.
Thanks in advance!
Dubldave
They are usually posted in your local newspaper.
www.realtytrac.com seems to keep track of foreclosures pretty good, although I haven't purchased my first property yet. There are also other sites out there that keep track of foreclosures.
you can get a free trial from realty trac, just remember to cancel before they charge your card. (That is if you don't like the service)
I had realty trac for a few days in conjunction with another service that lists foreclosures in my area only. I found realty trace to be missing alot of info. Also, their info was out of date.
Check around on the internet to see which other companies provide listings for you.
If all else fails, check the records at city hall yourself.
yes, realtytrac seems to be out of date. I was using it for auction information mostly. The auctioneers at the courthouse in my area said that they didn't get an updated list of properties until the morning of the auction. You would have to contact the banks / courthouse to find out if a specific property was going to sell.
Some bank websites are good sources for foreclosures as well.
Call your local title company (that has a website) and tell them you'd like to open an account. It's free and then they have marketing services where they will email you the NOD's weekly.
Run an ad in "Houses for sale" section of your local paper ("Need to sell fast? I buy houses! Call xxx-xxxx"
. Get some calls. Go see everything at first, and practice your spiel. Pay your dues. Wade through the curious callers (make em birddogs, offer to pay 1% at closing for leads that close), eventually you'll find a motivated seller, and take the leap. At least that's how I got started, and I bought three small properties in my first month. Good luck!
If you are in Port Saint John I would recommend building a home to flip. I am a Saint Lucie agent and have seen much success with flips in my area. Some builders have lots that they tie into the package you give them $1,000 down to build and then the home is build in about 12 months at that time your down payment would be paid. The only bad thing is most builders won't allow the home to be assigend so you have to have another closing.
you can call the state and get a list of their official "legal papers"; find the most common legal paper in your area and start a subscription. Not all that long ago, I started a subscription and made a deal on one of the properties advertised for foreclosure within 1 week!
Good luck! 8-)