the-abcs-of-real-estate-investing-ken LifeFeeling

you? Well you won’t be surprised for long because this is exactly the type of information
you’ll be pulling off the Internet yourself as you investigate properties.
Everything I mentioned in the paragraph above is a matter of public record. None of the
sources to find this information are illegal or shady. In fact most all of them are government
agencies. My point here is simply, if I can find out that information about your house, you
can find it out about any building you are interested in purchasing. That includes the name,
address, and phone number of the owner.
That’s one easy way to find out information about a property, and you’re always better
off knowing as much as you can. You can also take the direct approach and ask residents,
the property manager, real estate brokers who work the area, the tax assessor’s office, and
title companies.
Sometimes as you look for the owners of a property you’ll discover it is owned by a
corporation, not a person. Don’t let that stop you. Call the corporation commission in your
state and you’ll be able to get the names, addresses, and phone numbers of the corporation
officers. Nothing is secret!
Once you have enough facts about a property, you’ll want to call the owner. This is the
best way to find out more about a property and see if the owner would entertain an offer.
Making the phone call can be scary at first but not if you are honest from the get-go.
There’s no need to tapdance. Just ask the question and be prepared for rejection.
To help you through the first conversation with the property owner, I’ve set up the
following table. It maps out a typical conversation and what to say.
The Owner
Says
Hello.
Yes I am.
I might be
interested in
that. What did
you have in
mind?
You Say
Hello, my name is (your name).
Are you the owner of the property at
(state the address)?
Your property is one of ten on the
list that fits my parameters of an
eight-plex in Old Town Scotts
dale and I’d like to talk to you
about buying it.
First thing is I’m not a broker
looking for a listing, and I’d like to
say that everything we talk about
here is confidential and I am
prepared to send you a
confidentiality agreement. I’ll fax it
to you immediately, signed by me
Comments
At this point the owner is thinking
you are a mortgage broker trying to
get him to refinance. He’ll want to
hang up.
Now the owner is thinking, “Who is
this guy and is he reputable? Is he a
broker just trying to get a sales
listing or is this a real buyer?”•
The owner is thinking the
confidentiality agreement is very
professional. He likes that. This
sounds legitimate.