For those who know how to invest in real estate vacant houses can be a great opportunity to turn your real estate investing into big time profits.
Be prepared, though, as vacant properties do require some research and work on your part.
You have to locate the owners, which can sometimes end up being a lengthy process.
Don't worry about that.
The work you put in can really pay off with low costs and high sales prices that can put a mountain of cash in your pocket.
Locating Vacant Houses Locating vacant houses is going to be simple.
To those who know how to invest in real estate these houses usually just have a look to them that tells you nobody lives there.
You will notice an unkempt lawn, a stack of newspapers, an overflowing mailbox or windows that have no curtains.
There will be some sign that there is nobody that is calling the house their home anymore.
Digging for Information Once you have found a vacant house you need to find the owner.
Finding the owner is the only way you can get details and try to strike a deal to buy the house.
Finding the owners can sometimes be as simple as asking a neighbor.
In other cases you may need to do some more work to find the owner.
Those who know how to invest in real estate always start with the neighbors.
Ask them who owns the house or who lived there.
Find out why they left and if there is any word that they are trying to sell the house.
Neighbors usually will eagerly share information.
You may even get lucky and get a full name and phone number.
It never hurts to ask straight out for contact information.
Once you have exhausted you attempts to get information from neighbors, you should head to the local courthouse or tax office and start looking for information on the property owners.
Usually such records are available to the public.
All you will need is the address in most cases.
You should also ask if there is information about tenants for the property.
Making Contact If possible, try to talk to any tenants that may have lived at the house.
Tenants will be honest and up front about a house.
They won't be shy about telling you about any problems.
Owners may not be so quick to share what is wrong with the home.
Once you have talked with tenants, if any, it is time to talk to the owner.
Keep in mind that you have gathered quite a bit of information about the property already.
You have to use this as leverage to negotiate with the owner.
You should keep in mind that you have the upper hand.
Be confident when talking to the owner.
Bring up any points about issues with the home or the costs that the owner is paying just to keep a vacant house.
Make it sound like a very smart idea to sell the house to you.
Vacant houses can be a real estate investing goldmine.
Many investors do not take the time to investigate vacant properties.
You will have little competition and be able to get an advantage during negotiations with the owner since your research provided you with a lot of useful information about the home.
Being able to tap into this often overlooked market gives you a way to get some amazing deals that you can turn into amazing profits.
To your success as you learn how to invest in real estate!