Ok So I think I have found a Foreclosure in my neighborhood!! Next steps?!

Ok So I think I have found a Foreclosure in my neighborhood!! Next steps?!

Naples, FL · Member since 2015 · 10 posts · 0 votes

Hey BP!! Ever since I have been listening and learning about all the amazing ways to begin a Real Estate Investing future I have began to notice things I would have never seen had I not began my path towards Real Estate investing, just driving the same route back from my work everyday I began to notice houses with for sale signs in the lawns, houses that have been renovated and houses next door that haven't, almost like the law of attraction if you will lol! kind of an interesting and exciting feeling because I feel I am becoming more aware just through listening and reading about Investing, its an amazing feeling none-the-less...

Anyhow on my way back from work one day I am observing the houses in my neighborhood and notice one that looks vacant, like grass-3-ft-tall-and-vines-growing-up the-sides-vacant.. When I saw the house I pulled over to the side and took a look around and it seems to be in a decent condition outside wise (roof looks fine just needs a pressure wash) maybe some new paint to spruce it up and some yard work, but other than that it looks decent.. Now it got me thinking..

What would my next step be to start investigating a little further? I remember Brandon from the BP podcast brought up white pages, tracing the house location and seeing if I can get ahold of the owner... Would that be my next step??

Any insight, tips, etc, on how to gather more info and make the next step would be of much help!!

Thank you in advance! 

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  • Investor · Bellerose, NY · Member since 2014 · 108 posts · 34 votes
    11y

    @Alec Saenz,

    Check the local government tax assesor's website to see if you can find out more information about the property, maybe even the owner's name.

    If you can get the owner information, you can take the approach of sending a handwritten letter asking the owner if he/she is willing to sell the house.  If you do a little bit of searching on the BP site, you can find some examples of how to word the letter, or the general tone you should try with your message.

    Listen to the podcasts, there are quite a few about marketing and how to talk to sellers who might be motivated.

    I would caution against rushing anything, but certainly get used to doing "homework" on properties of interest that you find.

    The method you are describing is called driving-for-dollars, so do a search for that to see how other people have approached this method and what they say has worked best for them.

    Good luck in your research!

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