Okay I should not have had that last cup of coffee... One of the things that is coming to me from my previous career as a sales rep for some of the top surf skate and snow companies is a style of lead generation that I see very few people mention in any of the forums / blogs that I have been reading over the past years. Talking to the locals. These folks know all of the dirt in the neighborhood from who moved in when to the last time a flood came across the front yard.
Case in point, today talking with the plumber who came to scope the drain lines, he mentioned that he was actually working next door on a bath remodel with Mike the owner, and that the blue house about 5 doors away has been a rental for years and the owner has tried to get rid of it several times to no luck (yes, I have his name already and am hunting him down for a conversation). Mike, the neighbor and I had a good conversation about the neighborhood last week and he walked me through his whole house showing me his pride of ownership. The best part he is a RE broker himself and what he thought the house I had under contract ARV would be which thankfully was over mine.
Ask the couples walking down the street where the ugliest house is. They know which one you want. Find the old man sitting on his driveway and ask him about the neighborhood, be careful with him though he may sell you that cadillac in his driveway if he likes ya (had a 65 pushed toward me last week). As to the Trades, their local knowledge about what is going on and quite often a deep understanding of how the internal structures of the homes in each neighborhood were constructed. These folks are gold mines of information and quite often know which houses need the most amount of help that the current owners will never want to, be able or couldn't care less to. And if you just ask, they might even give you an introduction to the owner.
So for today at the cost of $125, I got confirmation/ mental insurance that cast iron pipes are in good condition, I now know where all of my sewer lines are routed, how the jumbled mess right above the septic tank needs to be corrected ($20 of parts and my labor) and the name of a local real estate investor who sounds like he is just done with one house, maybe all. $125 well spent. This is the reason I always ask before I finish up a conversation, "What question did I not ask that I should have about this neighborhood?" It always gets interesting.
Let me know if this helps.
