Real Estate Investor Tool Box?

[Terry Lee]

Ok so I am a newbie and I want to farm a few areas near my house but I am not sure where to start.  I'm not a licensed agent, so I feel like I don't have access to the data I need to make an educated decision on where to start knocking, mailing and calling.  A buddy mentioned he knew a few non agent home buyers using a 3rd party service provider called "monsoon", I did a few searches and found no option for no agents.   

So my two questions:

1. Any ideas or suggestions on how I might get the data I need?

2. If you were mailing in a zip code where median listing was $325K and Average Sales Price is $260K and you wanted to wholesale properties to rehabbers.  Where would you start?

[Jay Dewberry]

Hi Terry. I assume you're looking for ways to generate leads within you zip? Perhaps one place is a search here on BP for investor friendly agents in your area. I'm sure you'd find at least one or two that you could introduce yourself to and let him/her know your investment strategies. If your end buyer is a rehabber, make sure to thoroughly analyze your properties so that it's a win-win for both you and the rehabber. The BP Calculators in the Tools dropdown are very helpful. Also make sure not to focus so much on the median listing as opposed to the sale comps within the area you have chosen to contract in. Your agent will most likely provide this as well. You can also try sources to purchase lists in your area…places like Listsource, MelissaData, ect. (Youtube has some helpful vids). Driving for dollars is an inexpensive way as well. Doing so can begin to familiarize you to your neighborhoods as well. Oh, perhaps attending some REIA meeting in your area. Many times there are other investors that will team up on deals. Hope that helps. Good luck.