All Forum Posts by: Sean H.

Thank you for the replies. I actually just got my real estate license recently, however I didn't know if they were a tool that incorporates all the data. Have you guys used Realist? It looks like it pools a lot of the accessor's data, but for the sq footage of the house it says "MLS Sq Ft".

And Joe, I will try to make it. Thanks for the invite!

Hi Guys,

I have a question on where to find assessor data on properties (size, bedrooms, etc), specifically in Southern California (Orange County, Inland Empire)? I have gone to the property tax assessor's website and found the property tax bill, but it does not tell me any information on the property, just the tax payments and values. 

I went to Zillow and they have the assessor data listed, and you click "data sources" under county records, and it takes me to the Auditor/Tax Controller website for that county with the property (https://www.mytaxcollector.com/trPropInfo_PI.aspx?...). However this doesn't tell me any information about what the assessor has listed for bedrooms, baths, etc and what I would want to cross reference to give me a clue if something is permitted (more follow up would be required, obviously). 

My question is how do you find this data? Do you have to go through a 3rd party source? I know this is all public records data, however I just can't find where to get it.  The OC property assessor website is:

http://ocgov.com/gov/assessor/personalproperty

OC Property Tax:

http://tax.ocgov.com/tcweb/search_page.asp

Thanks again and hopefully this is an easy lesson to learn!

Thanks for the replies guys! All great info. Still a long time away from hearing back from the bank but I will get what I can from the seller and look at the market rates. Thanks!

Hi Guys,

Long time listener of the podcasts and have been reading more and more of the forum lately. I have a question for you guys that I haven’t been able to find in the forum search.

I have a fourplex property I am under contract with. It is a shortsale, and the seller has more than $130,000 in default payments on an $800,000 mortgage taken out in 2006. The property will be delivered vacant, as the current tenants are not paying rent.

My issue is that it appears the owners have not been receiving rents, so when I am going through my due diligence checklist there are many items that they will not have. Rent roll will be non-existent or incomplete, operating expenses will not be accurate, I doubt we can even get tax returns or copies of insurance policies (if they exist). So essentially I won't have a verifiable source to get real property data on rents and expenses.

So my question is when you’re dealing with a shortsale multifamily that has just been left to die by the current owner, how do you go about getting the typical due diligence items? Is the only way to be successful is to get the property at a price so low that you can be off by 10-20% with your estimating numbers? My plan is to use market rents and discount it by about 10% to determine my market rent and GOI.  

Anyone with experience in this or with any advice would be greatly appreciated!

Thank you!