Abandoned house, to rent or to flip?

8 Replies

Hello BP Family! First of all, thank you for your time reading this post. I noticed there is a house a few miles from my home right next to the gym I go to that is all boarded up. My realtor looked it up and said that it doesn't look like it's an REO, Foreclosure or anything. I looked on the county assessors site and it says the house is owned by 2 people and next to that it says "trust revocable." Thinking about two options, BRRRR or Flip. Before I decide that, what should my next step be to determine if I can even obtain the house? How do I get the owners contact information or their current address to send a letter?

The home is located in San Bernardino city within 1-2 miles of the University. Obviously there are a lot of factors that go into decided if I’ll rent or flip, just trying to gain some insight as what you guys think my next step should be.

Thank you in advance for any help advice, please let me know if there are any other specific details you need to know! P.S. I would be using OPM on this deal.

Check county property records - if the home is not owner occupied, chances are that the county records will show who owns the property and where they live. I do this all the time here in Denver when I drive past a property that is clearly not lived in and most of the time I get a mailing address of the owners. 

@Daniel Hansen Yeah I found their address and noticed that they are up to date on property taxes and it doesn’t look like there are any lines against the property, so I wrote a letter and sent it to the property owners primary residence in hopes they will call me.

@Matt M. Yeah he is already losing my business after not responding to texts and phone calls. If the property owner contacts me after she receives the letter then I will drive to my fellow investors office and show him the deal. Thank you for the input

Originally posted by @Brandon Maher :

@Matt M. Yeah he is already losing my business after not responding to texts and phone calls. If the property owner contacts me after she receives the letter then I will drive to my fellow investors office and show him the deal. Thank you for the input

I just picked up a $700k listing and he's buying a $700k home because his agent hadn't emailed him back in 2 weeks...  

There is always another agent willing to step in and earn your business.

@Matt M. 100% Agree! Sending out two more letters today to houses that are distressed I saw while running through my neighborhood. As long as I have a good deal in my hands, I will find somebody that will want to be a part of it.

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