Found a Trustee Sale with potential, what now?

[Chris Stromdahl]

Once I find a Trustee Sale with some potential what do I do?

Who are the buyers?

If I want to buy the property, who should I contact? The current owner? The bank? The Trustee company? None of the above?

What is the financial strategy? % of ARV?

What else should I think about?

[Gerald Harris]

1.   Contact the owner asap

2.  find who the owners area by looking them up

http://publicrecords.netronline.com/

3.  Run comps on the property to find value

http://findcompsnow.com

4.  You can wholesale the contract for quick cash if it has alot of equity

Here is a link you can read up on for new investors.   

http://www.biggerpockets.com/forums/93/topics/1362...

Remember

Be consistent and take massive action!   

Note: Focus on 70% ARV and below. in other words

if the value of the property is 100k you want to get it at 70k or under( barring any rehab fees)

Good Luck to you!