The one distressed property market that most real estate investors ignore is abandoned homes. Abandoned properties are identifiable as those which are boarded up, or they may simply have a very poorly maintained exterior. While these homes require some leg work, you can pick-up some extremely profitable properties just by driving around your area.

Simply cruise areas of interest, jotting down the addresses of boarded up or poorly maintained properties. After accumulating a sizable list (at least 10 properties), travel to the Tax Collector’s Office in the city where the properties are located. Once in the office, inform the attendant that you need to access the names of owners of your list of properties. Some Tax Collector Offices will supply you the names from their computer, while others will give you tax books from which you will have to find the names yourself. But the job is easy.

Using a property’s address, look into “the block & lot book” to find the property’s block and lot number. Block and lot numbers are legal descriptions tax departments use for properties. After finding the block and lot numbers, look into the tax books and there you will find the owners of the respective properties. The tax book is listed by block number; so once you locate the block number in question, scroll down until you find the property’s lot number. Having found the owners’ names and addresses, it’s time to send them a letter.

For more details on buying abandoned homes, plus sample letters, get a copy of my foreclosure training guide



Source: http://fastcashforeclosures.blogspot.com

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