All Forum Posts by: John Turner

In North Carolina we go straight to the closing attoreny's website where they have the actual up to date list of what is in pre-foreclosure an what will go to the courthouse and when and what' the minimum bid amount.

Sometimes this info is reflected on Zillow...but 9 times out of 10 it's not!

Let me know if you need more info!

Sarah

In North Carolina the trustee attorneys provide a list of pre-foreclosures online for free.  The actual bid amount price isn't listed until a couple of days before the sale so you will need to keep an eye on the lists to see what's coming up for sale.

This gives you an opportunity to research a property using GIS information which tells you about the last sale, tax value, and lots of other good information.

Contact your banker, insurance agent, and closing attorney to get everyone ready to anticipate you being a successful bidder on the property.

Let me know if I can help!

Sarah

@Corey Brown Hi and welcome to BiggerPockets! It’s a great place to learn more about investing and meet the people you want to meet. If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and don't forget to set up your Keyword Alerts!

The very first thing you need to do is read the rules and regs that govern vacation,  resort and college rental zones in the area where you're planning to invest in. Many, especially in our beach community in Leudadia, CA, are starting to really tighten up and/or crack down depending on your perspective while other City, County or State entities are vying for their fair share of your daily rack rate, (aka TOT) as well. 

Here's a link you may find useful. 

A word to the wise, however, vacation rentals or "Air B&B's", the new trendy cliche of the day, are not always the most desirable investment for the unseasoned investor. Someone needs to be available 24/7 for repairs, disturbances, continual damage and maintenance, and theft, etc. 

The reality is you better live close by, know the cops in the area (LOL!! Wait...........I do) or hire a good dependable management company who can rise to any occasion at anytime or both. Not trying to talk you out of it because it can be rewarding most of the time. But you do have to go into it with both eyes wide open. 

@Mindy Jensen are they ever going to add a Vacation Rental category? It's such a hot niche, it's a shame not to have a category for VR , Short Term Rental Investors to search, and for sellers to list under. I know I'd get some use from it.  

There's such a wide array of what people use for Vacation Rental Properties, that the current classifications just don't work. For instance, people set up parks with camp trailers, mobile home, cabins, condos, houses, houseboats, etc.