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How do you find distressed homes with equity??

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  • How do you find distressed homes with equity??

    Hello Fellow Investors,

    Does anyone know out there how to find out if a home as equity in it, such as info on websites, internet tools, etc.

    Thank You

    -James

  • #2
    James...

    You can lists of folks who own
    there houses free and clear...

    Or who have been in the house
    for Years and years...

    And then direct mail them...

    But, it's always worked best for me...
    To market to buy houses...

    Get motivated sellers calling me...
    Then get the deals and sort them
    afterwards...

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    • #3
      Hi James,

      Like David suggested it is always best to market to motivated sellers. When they call you can simply ask them what kind of equity they have.

      I know a few people who market to owners who have owned their homes for 20 years or more in hopes that they have more equity. I've heard that you can actually get lists that show whether or not someone has a mortgage on their home or not. But I don't believe it is possible to know how much equity someone has. You can find out what the original amount of their mortgage was, but you won't know if they paid $50,000 down on it last month or over time.

      Blessings,
      Steve

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