Trying To Buy A House For Cheap How Whould I Do This?
im just geting started in the home owners thing and i know theres ways to get broken down homes are fixer upers realy cheap, can any body tell me how are what to do....... THANKS 
shakes 18,
Just starting out ? Great..!! For starters I'd look at the "HUD listing"
next..ask around your R.E.I. group (or join one) for leads.
Try a " Investor friendly / Buyer's agent "
and. .or.. "you see an ugly home".. be polite, and knock on the door..ask if they are thinking of selling.
Best to you, mcldavid
Shakes18,
Drive around a lot in the areas you are interested in. Make note of the address of all houses that look like they have not been kept up.
Prepare a letter you can use to inform these people that you are interested in purchasing their home and that you are a private investor who can close quick. Mail this letter to all the addresses you have noted. Don't worry about not knowing the owners name. The Post Office will still deliver it if the address is complete. Make sure you use the right zip code. I would suggest not adding "Homeowner" or "Occupant" as these usually get thrown out. Just use the address, city, state and zip.
Make sure you provide an easy way for the homeowner to contact you. Both a phone number and email address. I would even use a toll-free number in case the letter gets forwarded to an out of state owner. This makes it easy for them to consider calling you. You should be able to get a toll-free number from your local phone company or your present long distance carrier. This helps in this business.
Good luck ,
Glenn
Hi Lori, Are you saying that you paid under $60,000 apiece for these 7 properties?
If so, as long as you didn't have to pay too much to have them rehabed, you apparently came out smelling like a rose.
Barbii
I think she means to say that each property was bought for under $60k. Othewise I'm moving to Pittsburgh and I'll retire after one year.
Ryan J. Schnabel
Welcome to TCI shakes18,
There are many ways you can find the prospect properties and it all depends in what kind of the city or neighborhood you live. One thing is imperative, you have to select the working aria and concentrate on it so you become very familiar with what is going on. Wake up early in the morning and drive around looking for either abandoned properties or the one that are not in the decent shape.
You can also buy fairly priced John Locke's book written for REI birddogs. What this book does for you is teaching you how to find properties and in general, the marketing side of this business, that IS THE KEY for success!
Good luck!
PS
Also, be aware of the certain board hustlers who tends to provide falls, incorrect, half correct or otherwise faulty and/or inconsiderate to a main question response. I found that Lori "tinman1755" does exactly that. She post's the one sentence responses designed to provoke the interest that serves as prospect farm. Yes, she skillfully conceals that to avoid the board jail but in hart, that's it and in my opinion, members that post such responses should be admonished buy any poster who she disrespect buy placing the self serving, business hustling and topic ignoring post.
Ryan, I spoke with owner of the www.foreclosures.com yesterday after she claimed that she pays $4.95/mo and they confirmed to me that thay even do not offer foreclosure listings in PA. She is full of ... just ignor her phony posts. [ Edited by omega1 on Date 02/13/2004 ]