Hello everyone, what parameters on list source would you use to target upside down properties. Are looking for something with 5-10% equity? Thanks Rocco
I've found pretty consistently that most houses purchased from 05 to about early 08 usually are underwater or have a little equity.
List source has % equity and LTV % parameters but the data doesn't always get reported to them, so take it with a grain of salt, it might not be accurate enough to guarantee anything.
Upside down, by definition, has negative equity.
@Roc P. it depends on the market of course...you can find props with mtg orig. in california that are 4 yrs old that are neg. but here in TX you normally don't see that, except for tiny specific areas.
As far as the list you pull from any source, it depends on what you are looking to do with the leads.
I do the whole absentee owner blah blah blah...and guess what....most of the leads aren't wholesale deals...they are lease options.
If I hit listed houses over $200k they aren't wholesale, they are lease options.
Interesting John, most of your absentee owner turns into a lease option. I'll keep that in mind. Thanks Roc
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing