Question by Wheels: How can I find the best Fixer-Uppers…in the my area without having to resort to “Listings” pitch-pages?
Hi Everyone my Family (Mother & Father) work in real estate my dad was a General Contractor for 20 + years…recently they have wanted to branch out into commercial sales and rehabbing…but one problem…it’s so hard to find the good deals BEFORE they get listed…as they work all the time…I would like to find out if there is any way…to find any sites and or networks with said listings (Without having to divulge personal information, as so many “Sign up” and “pitch pages” want you to do…
The Area we live in is Riverside County and they’re interested in properties in Mo-Val, San Diego (All of it), Riverside County, and Orange County….
if anyone can help us….it would be greatly appreciated…
Best answer:
Answer by cactusgene
I don’t know what you refer to by pitch pages, but if it is a service that lists properties in default, as indicated by a recorded Notice of Default or Notice of Sale, remember that LESS than 5% of the good and profitable properties result in an actual foreclosure sale or successful negotiations with the owner prior to sale.
Work with a couple local real estate brokers. Tell them what you are looking for. Just because they are listed properties does not mean that they are a bad or inferior deal financially. Remember, that even the foreclosed REO offerings by banks are not sold directly, but are sold thru Realtors. I work in a high priced San Francisco Bay Area county, and the rules are the same here. The broker who wants to make a living will bring you those deals that benefit you and induce you to make an offer. If right off the bat it looks like a good deal, then don’t make a low-ball offer or try to nickel and dime the seller to death, or you will lose a lot of your valuable time and gain nothing in the end.
Been there, done that.
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