response to Philly guy - Posted by Pam
Posted by Pam on July 17, 2001 at 13:18:05:
If you turn to the blue pages of the phone book and start calling the government phone numbers about HUD or FHA, and tell them what you are trying to do, and the neighborhood that you are thinking about, they may be able to help. You should zero in on a neighborhood that you think may be salvageable. If the neighborhood is too bad, then you will never be able to rent it out or re-sell it, so make sure and pick out one that isn’t too bad. Look for a house that is distressed, Then call the Tax assessor’s office and ask them how much are the taxes at this address?. Then say, “Oh by the way, could you tell me the owner’s name?” And sometimes they will. Then you could write a letter to the owner, showing an interest in the property. You can also go to the bank and ask to see the list of Real Estate Owned by the bank. They may have houses that they are dying to get rid of. Listings of HUD homes are available through Realtors, and they can steer you away from really bad neighborhoods too. Good Luck.