Found a Trustee Sale with potential, what now?
Once I find a Trustee Sale with some potential what do I do?
Who are the buyers?
If I want to buy the property, who should I contact? The current owner? The bank? The Trustee company? None of the above?
What is the financial strategy? % of ARV?
What else should I think about?
1. Contact the owner asap
2. find who the owners area by looking them up
http://publicrecords.netronline.com/
3. Run comps on the property to find value
4. You can wholesale the contract for quick cash if it has alot of equity
Here is a link you can read up on for new investors.
http://www.biggerpockets.com/forums/93/topics/1362...
Remember
Be consistent and take massive action!
Note: Focus on 70% ARV and below. in other words
if the value of the property is 100k you want to get it at 70k or under( barring any rehab fees)
Good Luck to you!
This is really great information.
And very well summarized.
Thank you Gerald.
PS. I got married in Savannah, GA a couple years ago. On my way down to the wedding we stopped in Charlotte for the day/night. Beautiful city! Beautiful part of the country.
Cool,
I am getting Married in October and relocating to Atlanta, GA
Have a good nite
Great info, @Gerald Harris