Found a few abandoned/empty properties. Now what?

Question

Hi All,

Just trying to get started in RE.  I want to concentrate on finding the owners of abandoned or/and empty properties here in S. Cal, and wondering what steps to; (a) FIND THE PROPERTIES, OTHER THAN DRIVING AROUND TO FIND THEM.  (b) What marketing strategies to use when communicating with the owners, i.e. what to write and how (postcard/letter).  (c) Would I need to have an 800 contact number at this point?

Any feedback from anybody doing this would be greatly appreciated.  Particulary in S.Cal. : :D

Jim & Michele Wilcox · Answer

Hi Jpopkin - We lived in Hawaii in 1989 just as the prices started to sky-rocket. They haven't stopped since. We lived in a $500,000 shack LOL in the middle of a pikake flower field. We lived behind Diamond Head in Kaimuki. At that time we tried to purchase a "tear down"  at an auction. We thought we'd go as high as $160,000 cash. Well the first bid was $160,000 and ended at $320,000. It was purchased by a Korean National with a suitcase full of cash. We knew when we were beat. LOL

We still look for property over in Hawaii - one day we'll be back. Aloha!

Pauline Wright · Answer

Thank you both for your valuable input.

Jpopkin - How is the RE market over in Hawaii?  How are the opportunities over there for making money?

Pauline Wright · Answer

Finding one's niche is the key.  Thank you for your feedback.  Where in Hawaii are you, incidentally?

N/A N/A · Answer

Right now the market is starting to slowing down here like much of the country, but it is still stronger than most.  The unemployment rate is currently very low, but the average home is selling for 640k.  My sister in law just bought a "starter"  townhome for $310, with $400/mo association. No matter where you are, there are always opportunities.  Sometimes is is a matter of being able to see what others don't.

N/A N/A · Answer

Honolulu,  More precisly Kalihi.  Most would consider it the ghetto, homes are only $450k-550k.  Personally I love it.  I can see the ocean from the bedroom window.  And its an area that needs positive influence.

Dick Green · Answer

I once listed a property for sale and was concerned as to whether or not is was condemned.  In the process of researching it, I stumbled across a city (Houston), department that fielded citizen complaints against eyesore properties, i.e. vacant, high grass, trash dumped on property, unsafe conditions ect....

Anyway, you might be able to find leads by checking into the city department  that condemns/handles complaints against the same type of properties in your area.

Good luck

N/A N/A · Answer

Being that I am not from California, I am am not sure how the tax records are. I know is some states there is a classification that is Registered Vacant.  Your best bet with this is to get ahold of the county tax property tax records department and simply ask them.

As far as marketing, The tax records should have the owners mailing address, and you can direct mail, or you can research a little further and find most phone numbers.

As far as an 800 Number... Necessary NO,  Great to have.. Absolutely.  I use ArchTelecom.  They say it is 30/mo plus usage, but I have never been charged the monthly, only usage.  It has many features and I would much prefer to give that out.. you can also make it seamlessly transfer to you cell phone.. Ie. if you would like to talk to a representative press 2, they will then be transfered.