I'll almost always target a cash flowing property with a target return in mind that needs as little work as possible.

Population in my target area is 40K, poverty rate is at least 25%, and we are doing well with rentals.

I've always had the goal to have my real estate income on my "fix and holds" provide enough TOTALLY PASSIVE income for me to not wake up before 11AM and always be able to wear flip flops, from anywhere in the world :) More recently, I read some of Ali's blog posts, and it's a much more explicit and targeted form of something that has been less explicit in my own goals, investments, and work flow..For now, I've been outsourcing whatever I can.

My attorney told me that if you are targeting non listed properties,  that there is no fiduciary responsibility however there is an ethical responsibility.

Direct mail (targeted mailing lists with very specific language Estate Attorney, Divorce Attorneys, Relocation companies, Local Builders (These folks tend to “land-bank” properties), Investors, Real Estate Agents (they call them “Pocket listings”), Public Records (for bankruptcies and short-sale opportunities), People you know!

If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.Seeya around!

If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.Seeya around!

Taking a local tax lien foreclosure attorney to breakfast is the best way to get knowlwedgeable about your target markets.

I call this a "heads up" letter.If mailed sufficiently well in advance of sale, I'll receive a number of nixies that I can skip-trace or reverse engineer to either find the owners or buy the lenders note and decide my best play forward.Second letter might contain some special message or attention getting device to encourage that letter gets opened and read and generates a lead call (call-to-action, also know as a CTA).Time permitting, I might segment the list further and create highly targeted, specialized letters that address a host of problems unique to their situation, which I call a "Perfect Storm" letter.Ultimately, my objective is to out-spend and out-research you as my same business rival.

An ounce of prevention is worth (much more than) a pound of cure!"