Marketing to property owners
Historically I have purchased REOs; but with inventory being so low all recent listed REOs have been listed about 10% above market value. For example - last year I bought a 3/2 1600 sq foot complete gut ($50k rehab) for $168k with an ARV of $250k. And I was putting in about 5 offers a week
Today in a lower property value zip (rural) this same property size 3/2 are at $200k with similar rehab costs but ARV is $215-$220k.
I am thinking about targeting absent owners that have delinquent taxes and doing a mail campaign.
Does this work? Do I need a website? Any advice?