I'm not new to BP but I haven't done any "official" deals yet. I house hacked about 10 years ago, before I knew what house hacking was, then sold the place for a 40% profit. Since then haven't done another transaction, but I'm anxious too.
On my way to and from work is a house on a nice blue collar street, and the houses sell for around $380,000 (Emerson, Bergen county, NJ). This is the ugly duckling of the block. Tall grass, falling down screened in porch, cracked front window.
Its also on a quarter acre of land which is more than most of the adjacent properties. Its not for sale, but I'm not sure if its vacant or not. What should I do next? If I could buy it, I would get a hard money loan, and flip it. But what should I do next? How do I get the title information? How much info can I get on line without having to go to the county office?
I've been trying to Jump In and not have analysis paralysis. (Although my one biggest limiting factor is I don't have a large amount of money as a back up, although it might be just enough, maybe 30K).
Thanks for any ideas. Again, I'm just trying to get my first deal, and hopefully start the snowball rolling downhill.
I would look up the tax records and try to contact the seller. You can also try mailing them a letter explaining your interest in the property. As far as how to get that information, it would depend on your county. The ones I work in have at least the owner's name and mailing address online.
For property records (owner's name and mailing address, etc), try http://tax1.co.monmouth.nj.us/cgi-bin/prc6.cgi?&ms...
For public records (mortgages, lis pendens, etc) see http://bergensearch.co.bergen.nj.us/countyweb/logi...
You might be surprised by what you can find out online!
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