Home Buying in Raleigh>Question Details

benlev, Home Buyer in 27613

Distressed properties? Bank owned?

Asked by benlev, 27613 Thu Jul 17, 2014

I'm looking for myself. What's the best source for financially and / or physically distress properties. I like fixing up house and need one. Something with a market value of about $200 when fixed up and a good discount.

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5
Ben in Raleigh,
Congrats, you have presented a very clear objective, with well defined parameters and with a definite outcome. You ARE the buyer real professionals love to work with.

Here is what you are going to need to do. You will have to start calling local REALTORs until you identify the one who has the stuff.

Here is what I mean. You are looking for communities that are on the cusp of rapid value escalation.
The anent you want will be keeping track of this data for the benefit of their "A" list buyers. You willl need to PROVE you are an 'A' list buyer.

Here is what the data looks like.

http://www.trulia.com/blog/AnnetteLawrence/2014/08/market_in…

Behind the curtain the actual sold prices in the community, will be in the $180,000 range with the growing surge taking this community well above the trend line (a). When that happens the community is fully recovered and profit opportunists are gone. Everyone will be paying retail.

Find the agent who has similar data and follow their direction. Their first direction will be secure your funding. Then the right strategy can be developed for you. The agent you want maintains their own proprietary database. That is what you will benefit from however, you must be decisive. These agents have six investors who are looking for EXACTLY the same thing. If you are indecisive you will find yourself on the "D" list really, really fast.
0 votes Thank Flag Link Fri Aug 22, 2014
I agree with the other agents, get a Realtor to do a search for you. Don't pay for access to a web site they are often out of date.
0 votes Thank Flag Link Fri Aug 22, 2014
There are a lot of websites that will send you a list of distressed properties. Most of these can be outdated. Having a Realtor set up a customized MLS search would be the best and most accurate way to know immediately when a property the meets your search parameters comes on the market. If you haven't found someone to assist you with this, let me know and I will be glad to set it up for you.
0 votes Thank Flag Link Mon Aug 18, 2014
You have a lot of options including getting lists of Estates, REOs, foreclosures and HUD homes (We can email you available listings). We also work with a lot of investors that flip homes and thus have a lot of distressed property owners that contact us to sell their homes before they list them and need to sell them in as-is condition at a discount to our investors. I have several homes that are great flip candidates come across my desk every month. Call/email me if you are still looking.
0 votes Thank Flag Link Sun Jul 27, 2014
Hi Benlev- Definitely would be best to determine how you are going to finance this purchase first. Once you have that information you can determine location and start the search process. I would happy to help you further, call or me me!
0 votes Thank Flag Link Fri Jul 18, 2014
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