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:
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!