Websites for cheap houses??

[Randal McLeaird]

Hi guys - I'm looking for more properties I can buy on the cheap and seller finance for a premium. I've heard guys around town getting $5-15k houses (i've been getting them around $25k) justby surfing the internet and making calls to sellers.

I jumped on every single FSBO site I could and lots of garbage sites that do nothing. I looked on craigslist and there are so many investors posting their rent-to-own deals on there that if you limit the search by price up to $30k or so, the only thing showing up are other investor ads with their monthly rental rate.

So, I'm just curious if anyone else has any thoughts or has had good luck with certain sites. If this is against the forum rules to ask for specific websites, please PM me. I appreciate any tips or tricks you guys might be using to get your deals.

Randal

[Shelly Swanzy]

For REO (Bank owned properties) you can go to Realtor.com and do a search. If you search for under $30K most of those will be bank owned. You can call the listing agent to view the property then you can submit an offer through the Listing Agent. We have successfully done this AP was $29,900 and we offered $7500 (thinking that would start negotiations) 3 days later they accepted our bid. With bank owned properties you have to have cash. I also don't think that you can do a double close. You have to purchase and then you can sell. Hope this helps