REsearch on Properties-reap, forelcosure
Hello again all! First let me say thank you for the info I have obtained so far. I have another issue. I have spent the money for muultiple programs and do not know how to use them. I haev comp programs, REA program and foreclosure programs, and do not know what to do with the data. I even have my tax office website to search property. The sad thing is I am frustrated to know what to do next, any takers on the next step.. SOrry so long... THanks in advance..
Hello 007, the next step is simple. Go out and find yourself a good property to purchase, flip, lease to own, sub-to or birdbog. Now that you are armed with the info put it into action.
Trying to find one--- either the pre-foreclosures do not have phone numbers or no equity. I am doing a mailing now, any suggestions on how to?
only mail or call the ones that do have equity, those are deals.....go after them go meet the people and see where they're at and what they're planning...see if you can help...
007,
The ones that don`t have any equity fit right into John Locke`s course doing a "sub - to"
Kurt
If you don't know how to use the programs, or don't know what to do, chances are you're looking at deals you don't understand propperly yet.
It sounds like you have info-overload. It happened to me too in the beginning. Sort out the different investment "formulas" (as I call them), and start with the simple ones. Build up your confidence, and go from there.
Hi oo7icu,
I don’t know about your comp program, REA program, nor foreclosure program, but when I research a property I’ll check online with the assessors office for the owner’s name, parcel number and legal descript, then check if the property taxes are current. The next thing I’ll do is check online at the recorder’s office for deeds, trust deeds, liens and judgments etc. If there is a document I need I'll pick it up at the recorder's office the following day. Then I’ll check the comps and if I’m still interested I’ll pull a property profile from one of the title companies I subscribe to make sure I got everything I need.
Best of luck
John (LV)
I just want to say hello to all and that Im VERY new to this REI stuff, but Im going to persue this as my new career. THis site/forum if flooded with great info, and with people asking the same ?'s I find myself asking,,HOwever, Im looking for a few tips myself...Just beginning, Im wondering where the best place is to start, and with NO $. I like pre/foreclosures but Im wondering if this would be the best place to start. Once you have all your info on the property that you need to determine if its a good deal or not, where do you go from there? I mean when it comes to getting the $ to acquire the property.....and also I had read one fella say that it would take him 8
minutes to explain the process to the property owners, and 2 min to stop the process....just how is this.......and is there a script out there as to explaining this process to the home owner. I mean like how exactly is it that we do this??
Ive been a nurse all my life, and I hardly have time for my family much less time to stop and try to learn something I know nothing about. Im one of those with info overload....I love learning about all this. Can someody take me by the hand and guide me????
Thanks so much, I appreciate all replies....REI4LIFE
I feel your pain REI4LIFE! I'm also a bit confused and unsure of where to start. I've read over 8 books this week and joined this chat room which has been the most helpful! Thanks to everyone! Thanks to John $Cash$ Locke for sending me a copy of his post card he uses to market himself, I'll definitely be using it.
I took the first step today and sent out my application/check for a local REI investment club thru the link on this website (under FAQs). This will allow me to meet with the experienced face to face. I'm also having lunch with a friend's mother who is a realestate agent and makes a few deals of her own with foreclosure/pre-foreclosure's in her spare time.
I'm pretty excited to get going! My girlfriends are skeptical, but I'm seriously motivated and know I will succeed with hard work and persistence.
**Knowledge is know-how and getting organized is getting started!**
I'm ready to get my feet wet!!!!!!!!