Got a question for the more experienced BPers out there

[Jonathan Curry]

I'm looking to make my first purchase of a B&H SFR and I was browsing around Zillow in the neighborhood I used to live in. I like the neighborhood a lot and the location was great. So I found a listing for a home that is in "Pre-market" and when I go to the property details page is says it was foreclosed in 3/2012. The listing says that it's a "motivated seller and to bring all offers". The property looks in pretty good shape and using conservative estimates on rent/expenses is should give around 11%+ cash on cash return and according to Zillow's Zestimate would provide an additional $20k in equity (I'm not too hopeful for that as Zillow seems pretty unreliable for pricing). My question is what's the next step? I've tried looking to see what entity foreclosed on the property or who to even try and make an offer to since it's a "motivated seller". It's in one of the suburbs of Houston if that makes a difference. Just trying to get my feet wet in rentals and of course a great opportunity is a foreclosure just to muddy the waters.

Thanks in advance.

[Alia Abbasi]

You should be able to locate the current owner by entering the address on one of these:

(Harris County) http://www.hcad.org/records/Real.asp?search=addr

(Fort Bend County) http://www.fbcad.org/Appraisal/PublicAccess/PropertySearch.aspx?PropertySearchType=3&SelectedItem=9&PropertyID=&PropertyOwnerID=&NodeID=11

I definitely wouldn't share the address on here (at least not publicly). I was working on a deal a few months ago and the person I was working with posted some of the details on a BP forum. What do ya know, the next day the owner had a cash offer for the exact same amount that we had already offered (and they had accepted, but had not yet sent us back the signed contract). So we lost the deal and I'm pretty sure it was from someone who saw the post on BP.