What do I do when I find a vacant house?

[Justin Thomason]

Hello Bigger Pockets!

I was driving around to some open houses today trying to get to know various areas. I came across 4 vacant houses just along my route to a coupe open houses. Normally I dont pay attention to things like this, but since learning about real estate investing I know these could be good leads for investors.

1st question: I have pictures and the address of each property. What do I do with this information?

2nd question: What do you investors do with this information?

I am just the type of person who needs to know how each piece fits just because.

Thanks,

Justin

[Greg B.]

You check the county clerks office for who owns the property. If the deed is recent it may mean no equity. Look for back taxes owed and also for homestead exemption which means they lived there. Check zoning to find out how the property is zoned.

Call the owner and find out their story. Any existing lenders cannot communicate with you without written consent from the current owner.

You may find a short sale, potential rental, or a flip. Good luck.