Breaking Into Preforclosure Market

MarleneM profile photo

Hey Gang!

I am a newbie to this site, and very excited to see all the topics and posts. I have a high-end investment property that I purchased 12 years ago. Now I am looking to buy low cost investment properties to prepare for retirement. My area is San Diego, and I have been looking in some lower cost areas of town but the multiple family dwellings I see on the MLS are dumps.

So here I am, thinking about preforclosures. How might I find out if any multiple families are in preforclosure in San Diego? oh oh

Comments(8)

  • 4th July, 2003

    You should advertise or go look at some multfamilies you like, track down the owners and send them a letter or call asking if they'd be interested in selling.

  • MarleneM5th July, 2003

    Thanks for your reply.

    I hope to look up property owners. I know the neighborhoods and can look up street adresses. Would I need to go to the county clerk's office to get the names of owners? Do they allow us to look up owners of property if we have a street name that interests us?

    If I were to advertise, which section of the newsppaer would I ask for?

    Thank you for your time.
    MarleneM

    Thank you,
    Marlene

  • hibby765th July, 2003

    Talk to the recorders office. Find out if you can look up the "notice of Defaults" given for multifamly properties.

  • webuyproperties5th July, 2003

    you could always advertise in the "real estate wanted" section of the newspaper.
    good luck

  • MarleneM6th July, 2003

    You folks are terrific. I'll go to the recorder's office and put an ad in the paper, too. Then I'll let you know what happens.

    Thanks!
    MarleneM

  • MakoInvestments29th July, 2003

    Lookup the AOA, Apartment Owner's Association. They publish a magazine with lenders and agents that have multifamily units available. Joining is cheap, and they'd help you a lot. You can also run your credit checks on tennants through them. -MakoShark

  • MarleneM30th July, 2003

    Wow! That is a great lead. I just checked out their website, and their services are terrific. It cost $79 to join for a year - so I joined imemdiately.

    Thank you for the help!
    Marlene

  • MakoInvestments30th July, 2003

    Hey Marlene, glad I could help. Their mag always lists units available and the lenders to finance them as well. Glad I could help you. -MakoShark

    Ken at KenFleming dotcom

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