Lots of Vacant Houses

I was driving around today in a neighborhood in my city and noticed 5 houses that appeared to be vacant all within 8 square blocks. This is a lower income area.

Does this make it a less desirable area to look at wholesaling?

There were also some fairly nice houses in the area.

Thanks,

Bob Burns

Edited: 06/26/2010 at 06:07AM

Andrew Massaro

Wholesaler · Tampa, Florida

246 posts
422 Influence

Icon_minipost Oct 12 '08, 07:59 PM

Who cares. Found out who owns them and make a low, low cash offer. Get them under contract and test the waters.

Edited: 06/26/2010 at 06:07AM

Robert Burns

Real Estate Investor · Baton Rouge, Louisiana

251 posts
1505 Influence
4 Awards

Icon_minipost Oct 13 '08, 02:54 AM

Great advice!

That's what I am going to do.

Edited: 06/26/2010 at 06:07AM

Tiese C.

Renter · QUEENS, New York

45 posts
35 Influence
1 Award

Icon_minipost Nov 01 '08, 06:53 AM

Could you please advise me how to find the owners of vacant properties? I have the same situation and I would love to wholesale them. Please advise.

Thank you,
Tiese

Edited: 06/26/2010 at 06:16AM

Jon Holdman

Real Estate Investor · Denver, Colorado

11859 posts
75537 Influence
15 Awards

Icon_minipost Nov 01 '08, 09:12 AM

Public records is the simplest way. That will give you the owner in most cases. In a few others, you'll have to dig deeper because a bank has repossessed the property, or there's been a recent transfer. But start with public records. AKA the county courthouse, recorders office.

Edited: 06/26/2010 at 06:16AM

Jon Holdman, Flying Phoenix LLC

Ryan Webber

Wholesaler · Amarillo, Texas

1887 posts
5703 Influence
7 Awards

Icon_minipost Dec 18 '08, 03:23 AM

Many times you can find the owner and the owner's mailing address online via the county tax assessors office or as Jon shared the county courthouse or clerk's office (which are sometimes online also).

Edited: 06/26/2010 at 06:42AM

Dan Franks

Accountant · Dallas, Texas

6 posts

Icon_minipost Dec 18 '08, 09:04 AM

If these lead to dead ends, you can run a simple skip-trace. If you would like me to refer you to a good, cheap, fast skip-trace service, just PM me.

Edited: 06/26/2010 at 06:42AM

Phil *

Real Estate Investor · Connecticut

119 posts
24 Influence

Icon_minipost Dec 30 '08, 11:53 PM

I used to try to stay out of the low, low end areas .. come to find out thats where a lot of investors are making some of the bigger bucks!

Edited: 06/26/2010 at 06:48AM

S S

Real Estate Investor · Minneapolis, Minnesota

22 posts
9 Influence

Icon_minipost Jan 03 '09, 03:08 AM

Does it have to be cash???

Edited: 06/26/2010 at 06:49AM

Douglas Christian

Real Estate Investor · Charlotte, North Carolina

361 posts
460 Influence
3 Awards

Icon_minipost Jan 03 '09, 05:32 AM

It should be a CASH offer to make it a solid deal. Once you have the deal under contract then you can seek to wholesale the deal, find a end buyer or take over payments.

The key is getting the deal and many owners to not want to have a long drawn out process.

THE EASIER THE BETTER.

Edited: 06/26/2010 at 06:49AM

Dave Humphrey

Real Estate Investor · North Canton, Ohio

34 posts
20 Influence
1 Award

Icon_minipost Jan 11 '09, 07:13 AM

I use reverse phone lookup on whitepages.com sometimes. Also, if there is now number associated with the address, look up the criminal court docket. They may have been sued or gotten a speeding ticket and the court dockets show the person's current address.

Edited: 06/26/2010 at 06:55AM