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Out-of-State Owners = Opportunity

by J.P. Vaughan   

Property owners who live out of state are frequently very motivated to sell their real estate. Tenants may have stopped paying the rent, started trashing the property, or the property may be vacant. It is very difficult to control your real estate investments when you live far away from it.

It is a simple matter to locate out-of-state property owners. Just visit your city's Tax Assessor's office and scan the tax rolls. Find the owners who live out of state and jot down their name, current address, and the address of their local property.

Then write all the out-of-state owners a cordial letter stating that you may be interested in buying their property if they are interested in selling. Be sure to include your telephone number, so they can call you.

This is exactly how I bought my first house in 1988. I sent out about 110 letters and ended up buying one house and making a $9,500 quick profit. By the way, this was a "nothing down" deal to boot.

About the Author:

j.p. vaughanJ. P. Vaughan was the co-founder and Publisher of Creative Real Estate Online. She wrote the book How to Buy Your Dream House for 1/2 Price (Quantum Publications 1994, out of print). J.P. was also an attorney who practiced law in Michigan until she started investing in real estate full time in 1988.

J.P. passed away in October 2015 after a long battle with ovarian cancer.


 
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