How do i find a distressed property?
I’ve seen what to do what I have the property under contract, but I have no idea how to actually find the properties and contact owners. Somebody please help
Most Popular Reply
If you are looking for distressed properties on the MLS you can find a list (updated daily) on rubikanalytics.com. - (Disclaimer: I started Rubik - but it is completely free for real estate investors.)
Essentially what we do is every morning we analyze every listing on the MLS and for every listing we estimate After Repair Value, Rent Potential and Repair Costs. Then we display all this including comp sales and comp rental on our online platform. Investors then can search for properties that match their investment criteria, and if they find a property they can directly place an offer with contingency of inspection. We also enable investors to track all their offers in a centralized place while we do the heavy lifting of making sure they hear back within 24-48 hours.
Hope this helps. Tommaso