If you are an investor, finding good properties can be a challenging task. Most of the good properties that come on the market are gobbled up by large investors. You may sometimes feel like a detective looking for property owners. Here are some good tips to make your task of finding profitable properties easier.
You have a chance to buy a property only when you can get down to a motivated property owner. You can look at details of owners on the website of the local property assessor. This works sometimes but not always.
Be ready to work like a detective
You need to think like a detective if you hope to catch motivated property owners. Most investors send letters to owners after finding them on the assessor’s website and your letter may go unnoticed or ignored by the property owner. You need a better tactic to catch the attention of the owner.
Many times, owners reside at some other place while their names are registered in public records. In such a case, your letter is delivered at a vacant property and the owner never comes to know about it. You must find owners that live in their properties.
Check records at local tax collector’s office
Owner always pays the taxes for his property whether he resides in his property. Check the records at the local property tax collector and match the names and addresses of the property owners you found in the public records. You are on the right track when the names and addresses match in these two types of records.
Even if you find a property vacant, you can always inquire about the owner by talking to the neighbors. You will find that many neighbors are happy to help you because they too have become fed up of a vacant property in their neighborhood. Do not forget to hand over your business card in case they find important information about the property and the owner in future.
You can also go to the nearest police station and ask the officials about the property and its owner. There is no need to feel intimidated as they will not harass you for asking general questions. Of course, they may refuse to help but, in many cases,, police has been found to be helpful because of squatters and criminals using the premises.
In many cases, a property is lying vacant simply because the owner has passed away and even his heirs do not know that they are the rightful owners. If you can approach these heirs, they will be delighted as they see you as a source of money. If they live far away, they will help you in buying the property as they cannot use the property in any case. If the owner has died, you can use findgrave.com to track down the heirs of a property.
Google can come to your rescue
Use Google to find out more about the owner if you have the address of the property. You can enter more details to know more about the owner. You may be surprised to get many clues that can help you in reaching the owner of the property. If you can get the telephone number, your work becomes very easy.
Of course, it may appear long and tiring to get down to the owner of the property but you have to be prepared to do this legwork if you want to acquire profitable properties to your portfolio. All it takes is a little bit of motivation and dedication to reach your goals as an investor.
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