Newbie Title/Deed Search - Contacting the Property Owner
Hello Everyone!
This is my very first forum post, but here goes nothing! I was "Driving For Dollars" or really just getting familiar with an area we were looking at investing in. During which I stumbled upon a hidden gem... There was a little 8-plex (technically two very close 4-plexs on two close lots) on a corner lot about two blocks from a central road in my town. You know that feeling when you see a property and your just like, that looks like a freaking deal? It needs quite a bit of work (completely new roof, fence, landscaping, interior...), but if the current owner is reasonable and I can get it for a price low enough it would be a great deal for a great cash flowing property. Also falling into the 203K financing qualification we were planning on starting with. Of course I would have to complete a full analysis of the property before we can get too excited.
So, after listening to the bigger pockets pod casts for about 2 weeks I figured I'd try this whole, "search the owner on the county assessors website," trick. I found the owner (of the parcel) and it belongs to a religious community center, which building a new center in the neighborhood. They actually own about a dozen properties in that area. Additionally, the rental property for the same address in is another individuals name.
This is my first time doing this and I want to take action, but how do I start the process?
A few questions...
1. Why are the parcel owner and the rental property owners differing?
2. Which should I contact?
3. What is the best way to contact them to initiate a conversation about me purchasing their property?
4. Would my significant other and I be able to each take out a 203K loan for each building and renovate from there? (one loan for one building under her and another for the other under me)
5. Pretty much, WHAT THE HECK DO I DO NEXT??
We appreciate any and all help form the community. Thanks guys and gals!