Needing advice on Finding great deals

[Tim Vallee]

This may be a loaded question, but how are BP investors finding their deals. 

I know how to look at all the MLS properties

I know how to locate owners (addresses) and find out if they are behind on their taxes.

 -I'm not real great at obtaining phone numbers if the property is vacant

I have limited skills at going to the courthouse and researching a properties history

I know how to track a property, which is being represented by a Lawyers office, and being sold on the Courthouse steps. 

What I struggle with, is knowing how to purchase a non-MLS property that is going down the road of Foreclosure. Or purchase a property with enough equity left to make it a good deal.

I'm interested in hearing what other BP members have to say. Thanks in advance.  

[Linda S.]

Hi Tim,

I have found, the secret to getting the really good deals--is finding houses that are cash-only. When they are cash-only, you wipe out like 95% of buyers, since a bank won't finance a house that doesn't pass. By going cash-only, we often get the houses at 30-40% off MLS. Find the ones where it says "as-is" and throw a low offer, they might just take it! Also, auction.com is where we just got our 4th property, for pennies..... but again, it's a cash offer... cash is king!

Hope this helps!