Propstream good to use?

Question

Looking on propstream for vacant for good deals in my area. Is it best to search under bank owned or vacant houses ?

Seems like the bank owned ones are federal national mortgage association (Fannie Mae).

What’s next step once finding one? skip tracing?

Thanks in advance!

Tim Bell · Answer

James, I agree with Roberto, off market properties are going to be much easier to work with. Here are some Propstream filters that a lot of my investor clients have found helpful:

Vacant

Non-Owner Occupied

High Equity

Off Market

# Years of Ownership, Minimum 5 Years

Maximum Value = Median House Price for Entire Market

Ownership Type = Individual & Trust

Single Family homes

Year Built Before 2000

Minimum 3 Bedroom, 2 Bathroom

These can be great opportunities. Just use Propstream's skip trace function and contact these owners simply asking if they would like to sell their property.

James Brown · Answer

Thanks a lot Tim. I needed this type of guidance to navigate it. Hopefully it will produce some good leads.

James Brown · Answer

How do I find those? Or atleast the ones that are off market but open to sell.

Tanner Lewis · Answer

I use BatchSkipTracing to find owner info, phone numbers, and emails. With a lot of these deals, they will be very disheveled, and you will need to buy them with hard money instead of conventional financing.