Wichita Falls, TX · Member since 2012 · 21 posts · 1 vote
Ok so I have been reading extensively for the past month or so on this site on how ot get started but I stilol have some question. Please forgive me if they have already been answered..
1. So how exactly to you guys find MLS listings? Do you just go to Realor.com or some other site and just target those sellers?
2. How do you do direct mailings ( thats yellow notes right?) and how do you know who to send direct mail to...Where do I find the address of an absentee owner?
I have many more but those two are answers I relly need to know.
I would like to send mailing to owners looking to sell. I am also emailing or calling the contacts of FSBO listings I find online or in the papers. I have tried craigslist for my area but it looks like there are a couple investors using it heavily already so I would like to try a different approach to find sellers.
Or you can have a Realtor do it for you like Brandon suggested. Personally, I usually just do the searching myself.
As for finding out who owns a property, that information can be found at the county assessor's office. Luckily for you, your county assessor's office has an online search site so you can find out the information right from your computer. (For my county I actually have to go down to their office to find out this information.)
Here's the site for your county: http://www.wadtx.com/property_search_hints.htm
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
13y
Hey Randolph! Nice to meet ya!
1.) Yeah, Realtor.com is a great place. There are a lot of MLS style sites out there, but some are better or worse for different areas. I like "www.TheMLSOnline.com the best, but they all just feed off the same info. Also, a Real Estate Agent is free to use for buying and will have the more powerful tools to search - so I'd recommend using them.
2.) Direct mail can be anything, but the yellow notes seem to be the most popular right now. I don't do direct mail, but instead just focus on homes on the MLS, driving by vacant homes, and word-of-mouth, so I'm going to have to pass that question to others. But I know you can buy lists online of absentee owners' addresses.
Good luck Randolph and you are doing the right thing! Dig in, read a lot, ask questions, then jump in! Keep in touch!
Dunkirk, MD · Member since 2012 · 26 posts · 2 votes
13y
Randolph Ellis,
I'm just getting started myself and I'm chasing my first deal. But I can tell you what I've found so far in response to your questions.
1. I found a local realtor that is hungry. Look for the ones advertising aggressively on Craigslist... we are currently filing papers to make me his unlicensed assistant which will give me realtor-level access to the MLS. There is much more information on the MLS than say, realtor.com. There is a $90 per quarter fee for this, paid to the MLS, not him. He's doing this for me because he's an investor and wants me to give him wholesale deals as well as spinning any short sale candidates to him as listing leads.
2. I have written the yellow letters. I've sent out about 300 so far and the calls are definitely coming in. No one extremely motivated yet, just a matter of time though. Where I live you can search property databases online. Find your state's real property database. I can search by owner mailing address state. Mailing addresses outside of my state are absentee owners. Free leads, just takes a little time to copy them. With the yellow letter... put a blank white piece of paper on top of a yellow piece and hold it up to a window so you can see the lines. Write out the body, your phone number and everything except the owner name. Then copy these on your printer and just write in the name each time you do a letter. MUCH faster this way. I have an excel sheet that has all my owners in it and I simply make the line bold for letters I've sent out.
Wholesaler · Whippany, NJ · Member since 2009 · 412 posts · 183 votes
13y
I pull my absentee owner list from the county tax records here in New Jersey. There is an online site that allows me to export a list of the owners in an entire town. I then just pull out all the people who's mailing address is in a different state then the property address is.
This might not be true in your state though, but worth a look.
Or you can have a Realtor do it for you like Brandon suggested. Personally, I usually just do the searching myself.
As for finding out who owns a property, that information can be found at the county assessor's office. Luckily for you, your county assessor's office has an online search site so you can find out the information right from your computer. (For my county I actually have to go down to their office to find out this information.)
Here's the site for your county: http://www.wadtx.com/property_search_hints.htm
Foreclosure Specialist · Miami Beach, FL · Member since 2012 · 131 posts · 123 votes
13y
Originally posted by Randolph Ellis:
1. So how exactly to you guys find MLS listings? Do you just go to Realor.com or some other site and just target those sellers?
I am a little unclear on your question. What do you mean when you say "target those sellers" on Realtor.com. Those sellers are already under a contract with a Realtor. If those sellers pursued a listing or sale with you personally then they would be in violation of their listing contract.
If you have a referral/buyer for a property, you should contact the listing agent not the owner.
Real Estate Investor · San Clemente, CA · Member since 2011 · 209 posts · 47 votes
13y
I'm with John here, most the houses listed on the MLS are listed by realtors, and most houses are listed at retail. Seems like a tough group to try and pick up a deal from.
Not sure if you stated your plans, are you wholesaling? If you are I would keep direct mailing, a wholesaler who sends "deals" that are on the MLS don't get the most attention.
Foreclosure Specialist · Miami Beach, FL · Member since 2012 · 131 posts · 123 votes
13y
Andrew O. is correct. If you are wholesaling, why would a realtor pay you to pass them leads from the MLS that they already have "free" access to? Or consider an investor for that matter. If you have access to these sites then so do they and they can do the research just as well as you.
Direct mailing is one way to get leads. Word of mouth is another. You need to get word out to your friends and their friends and their friend's friends to locate potential leads that only you know about.
Wholesaler · Whippany, NJ · Member since 2009 · 412 posts · 183 votes
13y
I'm with John Stevenson and Andrew O.. I can't tell you how many times I've seen investors looking for houses that specifically say "That are Not Listed on the MLS".
Foreclosure Specialist · Miami Beach, FL · Member since 2012 · 131 posts · 123 votes
13y
I am glad you got it. I would hate to have you burn bridges with realtors before you ever get started. This can be a challenging field to jump into. It might be a good idea to look for a mentor or a wholesaler who is looking for a research assistant. Someone who can give you some guidance and experience. At least enough to get your feet wet until you feel experienced enough to go along.