Finding property owners sometimes takes a bit of detective work and persistence. Pablo Pererya in the last episode of the SmarterLandlording Podcast talked about doing so with his Greatest Difficult Deal. Property owners can, willfully or not, make themselves scarce. When they do, what are some tips to go about finding property owners?
One Of Our Many Hats
Finding and negotiating with the property owner often affords the real estate investor the best chance to acquire a property. At first glance you might think that finding the owner would be easy, just look it up on the local property assessor’s website. Most of the time, doing just that will work. But what if it does not?
One of the many hats you will wear as a real estate investor is the Deerstalker. You sometimes have to be a little like Sherlock Holmes in this business. Sure, you can send letters to the address listed on the local property assessor’s website. But your competing real estate investors are doing the same thing and often those letters are just stacking up in the mailbox or being returned. To get a good deal, you have to be better than that. You have to get ahead of your competition and be a detective.
So where to look?
Property Records
Public property records are the first place to start. Sometimes property owners list the property address as their own, when they actually reside somewhere else. Any letter you therefore send will just be delivered to a vacant property and not seen for perhaps weeks if ever at all. If you find this to be the case, search public property records for the name of the owner and you just may find another property listed. That may be the owner’s true residence.
Property Tax Collector
Property taxes are often somehow get paid. Who is paying them? Who is writing the check? Go to your local tax collector’s office and ask to see the records. Do not assume that the office that records addresses (the right hand) and the office that collects the taxes (the left hand) know what each other are doing. When you investigate here, you might just get a lead.
Neighbors
Neighbors can be a great source of information. Get out of the car and knock on doors. Many neighbors will be happy to help you because they want to be rid of that eyesore next door. It is amazing what neighbors, especially long term neighbors, can tell you. At the very least, leave the neighbor a business card and ask them to pass along your info or call you if they learn more. Many will do just that.
The Police
This was one of the sources Pablo discussed in the podcast interview. I know you might be intimidated by the police, but get over it and go ask. They are not going to arrest you. The worst they will do is scowl and tell you no. On the other hand they might be very happy if you can help rid them of one of their problems.
Heirs
Heirs might not even know they own a property (yes, that happens!). Many heirs will often be happy to work with you because they see you as a paycheck and they live far away. One great source to locate heirs is findagrave.com. Use this resource for sleuthing and to make connections to heirs. Yes, it is a bit ghoulish but it works. This site is also a fantastic genealogy resource.
Just Google
Don’t forget to just Google the name. Pair your property owner’s name up with any other information you may have such as the address, date of birth or death, whatever. Dig past the first few hits. It is remarkable what is out there on the web. You may find a clue that will lead you to the property owner. Heck, you may even get their phone number. Try Google and then give them a call.
It has never been easier to find property owners that it is now. What used to take a trek downtown to government offices and hours going through reams of paper can now be down with a few clicks from your home office. A little legwork with neighbors or the local police department can also yield results. I find wearing this hat as a real estate investor to be one of the most fun, interesting and profitable. With a little practice, you might as well.
Have you used any unique sources to find property owners? Please share your experiences with a comment.
