Ever fallen in love with a house at first sight? .You know it would make a great addition to your portfolio, but you don’t know much about how to find a home that is not on the market and local property records are not seeming to help much. Well, this is where the wonders of real estate skip tracing are manifest when it comes to landing valuable deals.
What Is Skip Tracing?
Skip tracing is the act of tracking down a property owner, this is a particularly important skill that would claim useful for investors willing to purchase real estates that are currently not on the market. There are several reasons why property owners may not place their assets up for sale, it may be that they simply do not have the time or they are just too lazy to do so. Whatever the reason may be, knowing how to leverage skip tracing can help you unearth goldmines that other investors may be unskilled to discover.
How does skip tracing help when find a home?
The goal of skip tracing is to discover useful information about the real estate owners such as their contact details, email address, name, current address, or even their social security number.
Historical information such as past addresses, high school, college, or university attended, previous employers, or whether they were ever in the military service or not, can also come in handy when trying to skip trace a property owner. You can also make use of associative data like the name and addresses of friends or neighbors, colleagues, or ex-spouses. Past affiliations and business associates might also prove useful when you want to find a home.
The good news is that there is a plethora of skip tracing services that are available online, although most of these services are paid so it’s always best to make use of a reliable one that would give you value for your money.
Also, don’t forget the good old trusty social media as well as other search engines like google, yahoo, bing e.t.c that can easily provide you with the information you need. It is always best to check for the owner’s information on these databases before going for a paid service.
Finding a homeowner on your own is not an impossible task, it simply requires planning and a lot of deep diving.
Here are some steps that can help you discover a potential real estate owner:
- Knowing what you want: Asking yourself certain questions would help you plan a proper strategy. what do you intend to do with this property? Do you plan to simply provide the owners with useful information? Do you want to purchase the property? or simply help place it on the market? Knowing what you want would help prepare you for when you finally find the homeowner and are making negotiations.
- Do your research: Employing search engines and public records can provide you with enough information about a landowner. As a real estate investor, you should also be able to smell a goldmine from a mile away. absentee landowners, landowners who are slacking on taxes or dealing with foreclosure are usually potential buyers. Knowing what details to look out for can stand you out from other investors.
- Pin down your target: now you have done your research and have been able to make contact with the landowner. Don’t get too comfortable yet, as this is the most important part of skip tracing: Landing that deal. This would require you to be at the top of your game and work your persuasion magic.
Bottom line: Mastering the act of real estate skip tracing can be a game-changer when you’re trying to find motivated landowners and securing mouthwatering wholesale deals, listings, and assets.