I'm a newbie REI. I have 2 potential deals here that I'm looking to get some help on.
1. My sister moved from philly to Texas 3 years ago. She left her property with me. I’ve been managing the property ever since. The entire 3 years I had the property rented out to the tenant ( good tenant). She gave me a go ahead and sell the property. She is wailing to assigned the property to me on a contract. She still owes about 80k. Property is fully renovated. Still renter occupied. My issue here is I never wholesale a house before. I never really done any RE transactions before. So I’ve been doing my research and everyone keep pointing me to this forum.
2. There’s is an abandoned property ( duplex) around the corner from my house that I am looking to get it on contract and wholesale it. I went to Delco ( county that I lived in) tax web site. Was able to locate the owners address but it’s the same as the subject property address. I asked the neighbors and they said the property been vacant for years. What’s else could I do to help locate this owner and if I can’t locate the owner what other options do I have.
Thanks in advance.
Amara, so you are planning to wholesale your sisters house? Is she ok with that? If she finds out you are upselling it for a large sum, will the relationship be impacted?
Good way to contact the owner is to send them mail or find their mailing address and reach out directly. Sometimes you can even track down phone numbers by googling their name (or using other paid sources).
@Amara Sheriff One of the better FREE websites for finding people is truepeoplesearch.com It's fairly accurate for free service.
@John Knisely , thanks, she is ok, as long as the rest of the mortgage that she owes on the house is taking care off in the deal. She doesn’t want the property to go to foreclosure sure the tenant decides to leave upon when the lease ends. Other wholesaler have been contacting her at her current address in Texas.
I’m interested to how you will find them, I’m in the middle of the same situation! I’m going to go the direct mail route because I’ve called, knocked on the door, and even went as far as messaging an assumed relative on Facebook... I get nervous but then think to my self... “you could possibly make 100k by knocking on a door” and the fear goes away!
@Amara Sheriff Try knocking on the neighbor's doors or leaving notes from them. Chances are one knows what's going on - and they would probably like to get rid of the eye sore.
@Joseph ODonovan thank you very much. This site is awesome. Was able to locate the owner of the abandoned property. Gives me more information than I needed. Next is for me to contact the owner. I’ll try and keep you all up-to-date on my progress.