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Updated almost 10 years ago on . Most recent reply

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Michael Palmore
  • Philadelphia, PA
1
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18
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Finding owner of distressed property

Michael Palmore
  • Philadelphia, PA
Posted

I am new to wholesaling and did everything step by step. I called up the cash money buyers and got s list of the type of properties they are looking for and I started looking for the distressed properties that fit their needs. I wrote up my own version of the "yellow letter" and used the cities assessors office website to find the owner of the house. I drop off the letter to the address they have on file and the guy called me back 10 minutes later saying he hasn't owned the house in 7 years. So how can I find the owner of the house when the city does not know? Btw I'm from Philadelphia 

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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
3,548
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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
Replied

When pursuing property owners, heirs of deceased owners or persons with legal interest(s),  it's called skip tracing.

There is an entire industry of people who this for a living as well as subscription-based software devoted to findings people. 

While can start with freebie, online people locator sites, they have their limits.

The bigger questions should be related to deciding which properties represent the best opportunities for profit and the sweet spot for prioritizing fat deals. I've personally hired private investigators and spent tens of thousands of dollars profitably finding the people that help me unlock profits that others only shake theirs heads about.

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