Posted by robert barley on December 31, 2000 at 21:08:24:
Mr. Hoeffer:
I am a realtor in in the hampton roads area of virginia, and I can tell you that I personally have purchased eight homes just like the ones you have mentioned which have been empty for a long period of time.
Probably the best way for you to find the owners of these properties is to have your local realtor run a tax assesment of each of the properties that interest you. These tax assesments will have the owner’s name and address on them. Then you can mail your offer’s to them if you’d like. Since you may not have lots of cash to work with, you might want to include in your offer’s creative financing (i.e. rent to own, land contract, or land trust). Good luck to you in your real estate investments, best of luck to you in 2001.
ROBERT BARLEY
Posted by W Hoeffer on December 29, 2000 at 16:40:59:
I just went to Carlton Sheets web site and ordered the “No Money Down Course”. I have spent a few evenings reading stuff here on CRE and am really excited to get started. I am a Local Manager for Verizon in my hometown and as part of my job I am on the road in the area alot of the time.
I already know of several houses that have been sitting vacant for over a year and was just wondering if there is anything I can do right now while I am waiting for the info from C. Sheets to arrive and for me to go through it to give me a bit of a head start.
I have some funds available to get business cards, flyers, and stuff like that now. I already have a"home office" setup, but do not have a few grand available to use for earnest money or other deposits. Do I need to HAVE a few thousand set aside to be successful or will I be able to do some creative dealings to get my funds built up ?
I am tired of living paycheck to paycheck and just want to get ahead a bit. Living in Northern Virginia is just so expensive it’s almost impossible to do so.
C/S Course book has some forms for you to evaluate your opportunity for positive cash flow on the property your considering, to help you judge, how much to offer before purchasing a property, if you buy them at the WRONG PRICE, they become an alligator, and will totally EAT YOU UP! Waiting for the material to arrive may be a good ideal. However, you can go to your local county court house, and be looking up the owners of the property in the tax assesor’s office. There you will find the addresses of the owners, for you to contact. But, you might want to consider studying proir to making offers.
You have a great opportunity, with the extra time on the road, to be able to work both the job and the business of REI, at the same time until you feel other wise.
As far as needing money, there are many ways to get around that hurtle. You could split the deal, by having the owner(if its paid off) carry back a second mortgage, and get a first at the bank, and do it no money down. In other situations if your FLIPPING FAST, you can get money at a mortgage broker(however, REMEMBER that, this money comes at a HIGH INTEREST RATE, so use only for short term).
Read the link above to take care of your concerns of needing a bunch of $$$$ for earnest money deposit.
Those vacant homes-find the owners so that you can submit your offers. At this site(CREOnline) you will see links at the top left of the page. Go through them all-especially the HOW TO,MONEY MAKING,and SUCCESS STORIES links.