All Forum Posts by: Lance Hulsey

Contact a good Real Estate Attorney and discuss what you are trying to do. He/She will tell you if it is feasible and will be worth the price if it avoids future lawsuits.  

You bet and good luck. 

One other site I like to use to discover local rental prices is Hotpads.  Also, in your investigations did you check for any rental restrictions, limitations or local regulations? Just another thing to add to your due diligence in case you missed it.

Robert, this process is a farming approach that takes time and consistency to pay off. One of the great things about property radar is you can filter by equity position of loans on the property etc, so you can really dial in a target audience and tailor the messaging to that particular audience.  I am just now seeing benefits of gaining legitimacy with this farm after a year of doing monthly mailings.  I started with a mail list of about 350 properties that met a certain criteria and just worked it. So if you are in it for the long haul I would say you can get some deals. The main thing is to be able to have your money and team in place once a deal presents itself.  Ready. Set. Go!

A great resource is @Brandon Turner's Rental Property Investing Book. It will help you run numbers and analyze your property. Great read and a good resource for current and future rental investments. There is probably a link on the right side of this forum to click on to get the book. Good luck. 

I use Property Radar to build lists of out of area owners of MFR. (Note: Property Radar is a paid subscription service) I have tried a few different mailings and I have found that sharing current market value info with out of state owners garners interest. I will create a landing page to drive them to in my post card mailings to them to get the to give me their email address in return for a detailed market analysis report. I share localized market info with them in future email drip campaigns as well. Hope that helps.

Your best bet is to find out which local Realtors are selling the most condo's in the area you are investing.  Look for listing signs or find the Brokerage with the most signs in your particular area and go visit them. Talk with them and let them know what you want to do. They may already have buyers lined up for condos that hit the market. At the very least, they will know what buyers are looking for so that you do not over improve, or worse spend money on improvements that buyers don't really like.  Make the local Realtors your friends. They have tons of market insights. You can also talk to the neighbors in the complex. They all have friends who might want to live in the complex too. Just get out there and talk to people who work the market and live in the market you are interested in.

Update on my post above. BP has a link to foreclosure.com not proeprtyradar.  My apologies.

Hi Bill. I am from California and I am a Realtor/Investor. I was just in Portland last week doing research. I agree with you that the MLS is not the best place to find deals. Try PropertyRadar (subscription required) I believe Bigger Pockets has a deal under the resources tab. Also get creative and look for probate deals or walk neighborhoods and find the worst house in the best neighborhoods and knock on doors. Also work your sphere of influence. There may be deals there. Go to the local REI meetings if they have one. If not, start one and you will find people will come to them. Network for deals.

While I was in Portland I also went over to Astoria. I hadn't been in years and WOW! Change is happening there. The downtown is changing and the residential real estate market appears to be behind all of the nice changes downtown, so I think there is a lot of opportunity there. Since I have been back in California I can't stop thinking about Astoria. I'm doing research and running numbers.

Research, research, research. Find those neighborhoods and track the numbers on sales and rents. Good luck!