Portland, OR / Vancouver, WA Bird Dogs
Wheres the deals? All bark and no bite? Ok heres a bone. Im looking for bird dogs to find preforeclosures with equity. I pay cash for my properties so no need to convince sellers to accept creative contracts, etc. I like houses in the $140k to $250K range as they are the average bread and butter money makers in this area. This dog won't roll over and play dead when its time to pay for deals.
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I was looking for foreclosures with equity around PDX for a while. Didn't find anything either, not even at the courthouse steps.
Portland/Vancouver is a hot market primarily because of the high unemployment rates. I dont even look at a house with less then 20-25k in equity and I have approximately 175 to follow this month. I even found two in my same neighborhood. I will say that for a foreclosure buff like myself who loves the auction its getting tough 95% of properties have too much owed to be profitable, or they claim bankruptcy thus postponing the sale date. Mailers are ok I get at least 3% response but owners are getting sometimes 40 mailers I know because I ask, so the owners just keep finding the higher offer until its no longer a logical and profitable investment. Im hoping by finding some good bird dogs I can increase my chances of obtaining properties via the preforeclosure avenue.
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