Hi, My name is Erica and I am a new real estate investor in Birmingham, Alabama. I have a question in regards to how are you all finding your properties? Can anyone recommend a good list source where I can maybe start off with a smaller list vs buying a list of 1000 or more. I've found some companies but they have the bigger list available. I've been finding most of my properties by riding through some of my target neighborhoods.
I've never paid for a list of properties, there is no point! You can start right here in the for sale section, and then check the MLS. The best deals are sold before they hit the MLS, search online and then drive around and ask. After awhile people know you are a buyer and will contact you. I've even heard of people putting up flyers in areas they want to buy in!
Thanks for the mention @Mindy Jensen !
@Erica Davis Driving for dollars has been my favorite source of leads for 13 years. Don't ever stop that. And also be sure to get out of the car and talk to people. That's where the magic happens.
Also keep in mind that this is a lot like fishing. You have to put a LOT of lines in the water before you actually catch a fish. And you never know which line will bring in the next one. So your job is to just load up the bait and keep fishing non-stop with as many lines as you can afford.
I think your original question was about a mailing list, right? When I first started on a budget I was able to buy a CD with all of the tax records in my county for like $20. Then I got the ones I needed and mailed to them. It was a little technical, so if that's not your thing you can probably still pay a service $100-200 to get a similar list. Ask around in the local area of BP For providers in Alabama.
Thank you all for your input. It was very helpful and greatly appreciated. I will be catching Chad's podcast today!