All Forum Posts by: Marty Boardman

Depending on where you live, some counties have all their recorded documents online. I'm in Maricopa County, Arizona and they have recorded documents going back to 1990. I buy pre-foreclosures and at auctions in Wisconsin and the only way I've found to get this info is to get a title report (in WI they call it an owner's report). My title company charges me $25 per report. 

There really is no other way to know with 100% certainty what liens exist without paying for a title report. It's the cost of doing business. Let's say you have to pull 20 title reports at $50 each to close one deal that earns 20K in profit. You're still ahead 19K! And if it prevents you from making a mistake and buying a house with a lien you didn't know about, that's a HUGE benefit!

You get a title report from a title company. I use Land Closing Services in Wauwatosa. You want to get an owner's report. This will list, in chronological order, all liens and judgments recorded against the property. Some of this info is public, but can be very difficult to find. I believe Land Closing charges $25 for these reports. Well worth the price! Good luck!

The BEST way to reach a homeowner in foreclosure is to go knock on their door. Most owners in foreclosure are in denial, confused, apathetic or angry. Few of them respond to direct mail or text message. They most likely won't call the phone number on a bandit sign or search on Google either. You can definitely close deals days or even minutes prior to the auction with the right strategy. And as Mark mentioned, you'll need a good title company.

Best of luck Francesco!

Taylor, are you prospecting these leads for listings, or to buy the house for yourself as an investment (i.e. fix and flip or rental)? If you're going after them as an investment you don't want to be first. You want to be last.

Here's why...

Sellers in foreclosure have TONS of options...loan mods, iBuyers, refinance, hard money loans, bankruptcy. The most motivated sellers are the ones that wait until days or minutes before the auction to take action. This is where I focus my marketing. If I show up at a seller's door with a few days or hours until the sale I know they don't have any other choices. I'm their last resort.

Good luck!

I fix and flip valleywide. All that matters to me is margin. I'm not subdivision/city focused. 

If the numbers work for you then do the deal, Moon Valley or elsewhere.

That said, I don't like to be the trailblazer in a new area. I always check to see that at least 1-2 other properties in the neighborhood were flipped and then I "mirror" their finish styles.

Good luck Bob!

There is NEVER a wrong time to invest in real estate. Only a WRONG way.

There are profitable deals, whether they are to fix and flip, or buy and hold, in ANY economy.

Keep your saw sharp. Waiting for something to happen is not a smart strategy.

Good luck Sergio!

 Thanks Jesus!

Congrats Ryan on getting into house flipping!

You'll have a huge advantage over the competition in your market with your rehab knowledge. 

That said (and as Andy has pointed out), the critical part of house flipping is acquisition. It won't matter how quickly, inexpensively, or how fancy you can remodel the house if you overpay for it. A common mistake I see contractors make on their flips is over remodeling, which results in a blown budget.

So immerse yourself in the San Antonio market. Get on the MLS (or ask a Realtor to do it for you) and study what other flippers are doing. What kind of materials/finishes are they using at the various price points in your market? What is supply/demand like and days on market?

Best of luck to you!

If you find a contractor at Home Depot or Lowe's at 5:30a it's a fairly safe bet they are hardworking and reliable. The lazy ones don't wake up that early :)

Another way to find them is to drive around your area and look for the ones working at other peoples' homes. I stay away from the trades with fancy painted trucks/vans and matching shirts. They will be too expensive (too much marketing overhead). I like contractors that are just getting started with their business. They're motivated to grow and expand.

Good contractors prefer to work with other good contractors. So when you find one ask them for referrals.

As for finding contractors out of state...I'm on a plane right now flying from Phoenix to Green Bay to check on 3 of my houses. It's very difficult to build a team 100% remotely. I make 3-4 trips per year to the markets I invest in to meet/recruit and team build.

Finally, ALWAYS pay your contractors promptly and they will LOVE you and will make you their priority.

Good luck Joel!