Raleigh, NC · Member since 2017 · 80 posts · 25 votes
I have really enjoyed Michael Quarles tutorial for List Source! I tried it in Raleigh NC( List Source has more than 300k at the beginning criteria) and returns a list of 15 lol. That seems very targeted but is it worth the money for that few?
What criteria's did you enter? I pulled a list for a zipcode near me, but I did a 3 mile radius to get more results.
Also, I think it was Micheal Q who mentioned equity is a great list to pull. Filter for homes with a good amount of equity. in addition to other filters you want like property type (SFH, duplex, etc.)
I'm not sure that I completely understand. I've used List Source. Yes, it does start with hundreds of thousands. Then I'd narrow it down by city, zip code, what type of owner (absentee), eliminate duplicates etc. When it's all said and done you can have as few as a couple of hundred to a few thousand.
I have really enjoyed Michael Quarles tutorial for List Source! I tried it in Raleigh NC( List Source has more than 300k at the beginning criteria) and returns a list of 15 lol. That seems very targeted but is it worth the money for that few?
The response depends on your ctieria. There are 388,413 property records as of my last Wake county PR snapshot. If you are looking for quads outside of the city of Raleigh then maybe you'll get 15. LOL! Actually, you'll get 24! Listsource may have register of deed data for refinance dates and swags at equity positions. Some may find that useful.
What criteria's did you enter? I pulled a list for a zipcode near me, but I did a 3 mile radius to get more results.
Also, I think it was Micheal Q who mentioned equity is a great list to pull. Filter for homes with a good amount of equity. in addition to other filters you want like property type (SFH, duplex, etc.)
To answer your question, when I was buying in Wake county I looked at single family residential as my TAM (Total Available Market). My Addressable Market (excluding bank owned REO and courthouse acquisitions) was defined roughly as: single family (type & use and land class fields) residential, built before 1978 (year built field), held by owner for 10 years or more (pkg date field) with assessed value under $125K (bldg AV and land AV fields), with out of town owners (owner city field and physical city field). So I looked at (with a rough total counts of each selection):
single family (type & use and land class fields) residential 285,108 built before 1978 (year built field) 230,809 held by owner for 10 years or more 103,633 with assessed value under $125K 19,385 with out of town owners 3,029
From there I broke it down further into subdivisions, property consistency across SD phases, percentage NOO/OO. The reality is most of my acquisitions were REO and courthouse trustee sales rather than via letter campaigns (only got 1 pre-foreclosure this way).
Hope that helps. Your search should match your overall business plan based on your acquisition target profile(s).
I took everyones' advice and played around with the criteria. In my area for whatever the reason it didn't like me adding 1-3 bedrooms. Took that off and problem solved.;)