What is the best way to find distress property please - Posted by Rebecca Martinez


#1

Posted by Redline on March 01, 1999 at 12:48:49:

Ben - Are you a member of these sites? And if so … is the information timely and accurate? tle.com charges $200/year for membership (now with a special 50% off)… but is it worth it? All these sites provide is the information you could get for free with a little leg work, right?

RL


#2

What is the best way to find distress property please - Posted by Rebecca Martinez

Posted by Rebecca Martinez on February 28, 1999 at 14:40:18:

Hello everyone what is the best way to find distress property beside a list from a service or newspaper please could you please let me know and i hope this helps other as well.


#3

Re: What is the best way to find distress property please - Posted by Jackie in Dallas

Posted by Jackie in Dallas on February 28, 1999 at 19:40:37:

Rebecca,

Check out the how-to articles for the Real Estate Primer #2 - How to Find Houses.

In addition to that information (and I know it sounds a little wierd) look in the newspaper for names of people who died. You should be able to get the address using www.infospace.com - send a letter to the property address. I would NOT suggest you say anything like “I know the owner of the house just died” - INSTEAD just send a postcard or letter letting whoever is checking the mail know that you buy houses - you pay cash and you can close quickly!

It’s the distressed situation you are looking for as much (if not more) than the distressed property!

Good Luck,
Jackie


#4

Re: What is the best way to find distress property please - Posted by Jackie in Dallas

Posted by Jackie in Dallas on February 28, 1999 at 19:40:37:

Rebecca,

Check out the how-to articles for the Real Estate Primer #2 - How to Find Houses.

In addition to that information (and I know it sounds a little wierd) look in the newspaper for names of people who died. You should be able to get the address using www.infospace.com - send a letter to the property address. I would NOT suggest you say anything like “I know the owner of the house just died” - INSTEAD just send a postcard or letter letting whoever is checking the mail know that you buy houses - you pay cash and you can close quickly!

It’s the distressed situation you are looking for as much (if not more) than the distressed property!

Good Luck,
Jackie


#5

Re: What is the best way to find distress property please - Posted by Ben

Posted by Ben on February 28, 1999 at 19:23:21:

Keep up with notices of tax lien auctions. These are property owners delinquent on their property taxes.In fact, check out the tax lien exchange at tle.com or
liensource.com.


#6

Re: What is the best way to find distress property please - Posted by Ben

Posted by Ben on February 28, 1999 at 19:23:21:

Keep up with notices of tax lien auctions. These are property owners delinquent on their property taxes.In fact, check out the tax lien exchange at tle.com or
liensource.com.


#7

Re: What is the best way to find distress property please - Posted by Gino

Posted by Gino on February 28, 1999 at 18:14:43:

Rebecca,

in my opinion the best way UNTIL you have referrals coming in regularly from relations with realtors and other sources, you cant beat driving neighborhoods, looking for eyesores and talking with neighbors.

Many people try and take the easy (lazy) route when they first start and expect realtors to lay all these great deals in their laps. Sorry to say it just does’nt happen as often as people think. Dont get me wrong they will send you deals once they know you know your business and you have made them money but just dont rely on them. Get out there and pound the pavement. It will help you in many other ways anyway, like learning property values.

Try and farm one certain area and drive it once or twice a week and take notes on properties that look like they might be in trouble or un taken care of.

Personally i like to get to know the mailman in my neighborhoods and treat him real good. he’ll send you more deals than most realtors in my opinion. When i started my mailman would bring me more houses to look at than i could handle (some good some bad). I would buy him Cigars and Patron Tequila as compensation (its what he liked). He later ended up buying a couple of notes from me.

Get out and start making connections!

Gino L.


#8

Re: What is the best way to find distress property please - Posted by Gino

Posted by Gino on February 28, 1999 at 18:14:43:

Rebecca,

in my opinion the best way UNTIL you have referrals coming in regularly from relations with realtors and other sources, you cant beat driving neighborhoods, looking for eyesores and talking with neighbors.

Many people try and take the easy (lazy) route when they first start and expect realtors to lay all these great deals in their laps. Sorry to say it just does’nt happen as often as people think. Dont get me wrong they will send you deals once they know you know your business and you have made them money but just dont rely on them. Get out there and pound the pavement. It will help you in many other ways anyway, like learning property values.

Try and farm one certain area and drive it once or twice a week and take notes on properties that look like they might be in trouble or un taken care of.

Personally i like to get to know the mailman in my neighborhoods and treat him real good. he’ll send you more deals than most realtors in my opinion. When i started my mailman would bring me more houses to look at than i could handle (some good some bad). I would buy him Cigars and Patron Tequila as compensation (its what he liked). He later ended up buying a couple of notes from me.

Get out and start making connections!

Gino L.