I hear this question often, “Cam, I’m looking at a property but it’s a two bedroom home, should I avoid the deal or do it?” The reality is, there are scads of guidelines in the real estate investing world and a few hard and fast rules to follow, but one of your biggest guides will be what the real estate comps tell you.
When you come across a potential deal that goes against the known guidelines, and trust me you WILL, then it may be time to slow down, take a second look and perhaps reassess your options.
Today’s post is about the second step in my 5-step process for quickly turning an abandoned property into BIG paychecks–Finding motivated sellers. I like to think of these types of deals as gold mines that are simply disguised as vacant homes or abandoned property.
This is mainly because there’s not a lot of competition for them. Not only is it challenging to find vacant properties, but it can be even more challenging to find the owners or motivated sellers of these vacant houses. Oftentimes, because it is indeed more challenging, fewer investors will actually spend the time and effort searching
I have good news and bad news for you…
You have competition.
They don’t know the strategy that you are about to learn in this article.
When a typical investor wants to find a property owner, they give up when they see that the ‘vacant house address’ matches the address of where the tax rolls say the owner lives.
When in reality this is pure gold!
The reality is that 99% of your competition disappears when you find a property with matching addresses.
Let’s discuss a few of the common or traditional ways that