Located vacant properties...what's next???

Question

Hello, I am new to real estate investing with the focus on wholesaling. I was driving in a neighborhood where my grandmother lives and saw a few houses that were vacant. I wrote down the addresses and looked at the public records website to find out who owns each property. I need to know where do I go from here...should I send the owners a letter letting them know I would like to purchase their property for cash or should I find more about the property before contacting the owners?

Robin Miller · Answer

I am in a similar situation and currently trying to locate the next of kin for a vacant property. Does anyone know a great skip tracer to use to find out some leads to the property owner?

Sharon Jones · Answer

Agreed what Corina said; however, I would like to add "time is of the essence".  Hurry up do your homework, contact the owners, and make offers on properties if everything checks out.  There are other bird-dogs and wholesalers who are looking for vacant properties as well.  Good luck !

Dorithie Morrow · Answer

Thanks Corina. That is the information that I needed. I will do more research before reaching out to the owners.

Corina Eufinger · Answer

always do your research prior to making an offer. Researching before contacting is a personal preference. Be sure you know your end game before contacting the owner. Are you strictly wholesaling? If so do you have possible purchasers lined up? Are you prepared to assume ownership if you are unable to wholesale? Any idea on the ARV of the property? Have answers to those 4 questions for your own preparation before jumping in head first.