Real estate question and answer of the week

The Real Estate Investor Question and Answer of the Week

Question: Good morning, I’m a contractor in South Jersey and I see hundreds and hundreds of homes with stickers on the window that are abandoned. I’m thinking they are REOs bank owned properties. How is it possible to get the information of who owns these properties so I can start flipping them with an investor backer that I have?

-Thank you, Charles

Monty’s Answer: Hello Charles and thanks for your question. A bit of detective work first to get started. Have you gone up to one of these homes and read what it says on the notice? It is typical that there would be a telephone number to contact to get information or a website to visit. I would start there.

Next, write down the street address of the home and determine what municipality in which the property is located. Also determine the county in which the municipality is located. One of the two, and possibly both of these government bodies have a GIS mapping system on a website. By going to the website, you can zoom in on the property and confirm the address or pick up the parcel number. The parcel number allows you to search property records to see the assessment value and the annual property taxes. It will also list the owner and the owners address. This information may be helpful.

If you are still having trouble, here is a HUD – Homes for sale website in New Jersey. This is a searchable site and you can search by the address you took off the house. If that is not successful you can do an Internet search for HUD real estate brokers – New Jersey and a page or two of links are displayed. You should be able to reach a broker who can help you.

I hope you find this information helpful, Charles

Respectfully,

Richard Montgomery

Please visit Richard Montgomery’s website here.

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  • Dear Monty

    Richard Montgomery gives no-nonsense real estate advice to readers’ most pressing questions. He is a real estate industry veteran who has championed industry reform for more than a quarter of a century. Send him questions at www.DearMonty.com.

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