Posted by Lee on November 02, 2000 at 07:22:05:
Ahhh my favorite subject.
- Do a title search to determine the owner(s) names and mailing addresses and to see if there are any leins, judgements and or mortgages on the property. If the leins come anywhere near the 50 - 60K equity forget it… unless you can buy them at a huge discount. If the first is a pre 1989 HUD or VA(generally) it can be assummed without qualifying. To find the owners call directory assistance. Ask for the name in whatever area code, don’t give them a city name you’ll get a larger search area. I would say use the net but those dbases are not as current. Otherwise, use “Pro CD” (telephone dbase on CD).
If you need to, hire a PI to find the owners, do it.
The early bird gets the worm.
I once missed a preforeclosure fourplex with a $1,600 plus monthly income stream (for the rest of my life)because I was one day late, I was “to busy”, the guy wanted 23K for it.