I Found a Vacant Property – Now What?  [ Driving for Dollars ]
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I Found a Vacant Property – Now What? [ Driving for Dollars ]


hey guys I just went to a video real
fast and this is a question that I’ve been getting quite a bit and the
question is Gerald I found vacant properties vacant houses
what do I do next Driving for Dollars, I found a vacant ly vacant
houses vacant apartment complex what do I do next
great question so I’m gonna go through a series of four steps follow these steps
I try to explain them as clear as possible that way it will help any of
you out whether you’re a part of the house of the family Facebook group or
you’re a subscriber here on YouTube just want to go ahead let me bless some
people so once you find these properties let’s assume it’s a house or a series of
houses you get the addresses and what you want to do is go to the local county
website and type in the address of so and a link in the description step one
go to the local city website so once you go ahead and click the link click that
big red button that says 50 state search all right go ahead and click on the
particular state that it’s in and click on the county and click on the city put
in the address once you put any address how to show you everything or a lot of
stuff how many bedrooms how many baths when they bought it
what’s owed against the property tax liens that type of thing
once you gather all this information you’re going to go to step number two
and you’re going to go ahead and find out the values of the properties step
number two will be several websites where you can go ahead and plug in the
address type in the address and it’ll give you some values of what the
properties are worth that so give an example step number one when you typed
in the property a particular property it’s going to give you property address
once you go ahead type in that property address and to the valuation search
which is step number two let’s assume that property is worth
$100,000 that’s all so soon that that property has about twenty five thousand
dollars of debt old against it because what you’re looking for is equity what
is equity equity is value – debt owed it was equity so let’s assume property is
worth $100,000 let’s assume it has a $5,000 tax lien and a $20,000 mortgage
against it twenty five thousand plus five thousand is twenty five thousand
dollars minus one hundred thousand dollars in
value that is seventy five thousand dollars in equity that is a good thing
so what you do from there let’s go to step number three what you’re going to
do is you’re going to look up the owner information now typically the owner
information is going to be on step number one a lot of these vacant
properties have owners that are attached to the properties so in step number one
it’s not just going to show the property information that it’s going to show some
owner information assuming you find the owner owner
information from that process great if not contact a local skip-tracing company
okay you can go to upward calm and place an order and they’ll go ahead and
they’ll find the owner for you what I’m going to do is step number three I’m
also going to give you a link in the description talking about skip-tracing
and how you go about doing that so that’s step number three step number
four once you get all that information you’re gonna go ahead and send a yellow
letter out to the owner the yellow letter is probably one of the letters
especially when it comes to these vacant abandoned properties that gets the
highest response rate step number four is going to be another video talking
about yellow letters okay you go ahead and the yellow letter out asking the
owner if the entrances are selling the property you can either do a yellow
letter or you can go ahead and if you get the phone number make a phone call
that MOU came across the property I’m cash investor all clap all cash can
close quickly that type of thing and so those four steps you go ahead and use to
go ahead and to find out about the property contact the owner look up the
value mail the owner or call the owner see if they’re motivated to sell with a
property like that it’s a good chance that they’re motivated to sell but at
what price that’s the key so use those four steps to go ahead and go about
looking up the property finding out about the property now that applies to
houses commercials a little tricky you know you’re gonna find some apartment
buildings where you can’t necessarily type in the address and find out the
values so with apartment apartment buildings you can find out more
information about those apartment buildings by taking the address lots of
times and just put that address into google lots of times that information
will pop up and give you some really valuable information you’ll be able to
see when that property sold when it was acquired maybe it’s going through a
particular process all the addresses that I come across what I typically do
lots of times I’ll go ahead and just put that address into Google will tell me a
lot of different things because that address will pop up on different sites
and stuff like that so it a piece of commercial property and
put it into google number one number two you can go on a website called Luke
Netcom Luke Netcom is a commercial real estate site I think it’s like the
biggest commercial real estate site in the United States it will you can kind
of see what some other apartment complexes are going for in the area but
that’s still not one determined value you know you determine value by
apartment complex to cap rate that type of thing so if the property is abandoned
and it’s vacant I would go ahead and once you find the address and find some
information about it when you go ahead and go to a local city website mail the
owner and let them know that you are an investor
all cash can close quickly and see if they’re motivated to sell at that point
if they are motivated to sell you know go ahead and shoot a matter of fact as a
bull of shooting the private message just go ahead leave a comment on the
videos and hey Joe I got a owner of apartment
complex they’re motivated to sell what do I do
I’ll just go ahead I’m gonna look it up a little I’m a realtor up pretty quick
I’m just tell you to go ahead and shoot an offer to him maybe it’s on $1,000
maybe it’s a $200,000 I don’t know it depends on a apartment complex condition
deal owners with all those different things
next thing is land land is is a little different so with all three concepts
within houses apartment complexes or a land step step number one is going to be
the same however with land you don’t lots of
times you may not have a physical address you may have an Assessor parcel
number most properties if not all of them most properties throughout the
United States before there was a house or a hospital or a commercial property
whatever it is that that was on that land before it was a hospital or before
it was a house before it was an apartment complex it was just a parcel
of land every parcel of land is attached to it an assessable parcel number it’s
kind of like us with a social security number a social parcel number will tell
you the identity of a length of a piece of land it’s just like when you go and
you type in a house address you know how address is going to tell you some things
about that house once a piece of land has a house attached to it it kind of
takes on a different identity once a piece of land has a commercial piece of
property attached to it it takes on a different identity it’s not just a piece
of land it’s a piece of land attached to an apartment complex attached to a house
so it takes on a different identity so you’re gonna go ahead and find the
parcel number of that piece of land and look it up on the city website how do
you find the parcel number in a neighborhood and so what you do is
you drive up and down the street and you’re going to see a pattern that
goes on in pretty much every single neighborhood so in my area out here
every six number is an address so give you an example let’s say it’s 1 2 3 4
Main Street the next address will be 1 2 4 0 Main
Street next address will be 1 2 4 6 Main Street
with land maybe there was a house that was on top of it but the house has gone
now so there may be a physical address attached to the land if not you can
always go ahead and call the local city we’ll call a local city or local County
wherever it’s at and let them know you were on this particular street it’s near
these addresses and what would be the parcel number that attacked that has
attached to that property if you want probably an easier process go ahead and
register for land Glide yes that’s it landslide land line it’s an app and that
will tell you what it’ll go ahead and read addresses parcels that type of
thing in that particular area and it’s a really cool app that will allow you to
go ahead and find the owners of properties fairly easy very powerful app
which is shocking but so yeah you know once you go ahead you find that and then
you go ahead you go to a little local site like real calm or Redfin calm or I
comps calm which will be also it’ll be step number three I think it is find out
what parcels are going for in that area so let’s assume it’s a quarter acre
parcel and parcels are gone for $20,000 to zero thousand dollars
you find out that that particular parcel has a tax lien on it of $2,000 and so
once you go ahead and obviously you go ahead and Mail the owner you can make
them an offer what I typically do in a residential area
I took will be making offer somewhere the ballpark of about 25 cents on the
dollar so for $25,000 I’m just gives me a twenty thousand
dollar land parcel I’ll offer let’s say five grand right and then I’ll flip it
for double my goal my objective is to get in get out get on that’s it
I’m not looking to go ahead and hold a people particularly land parcel for six
to eight months a year that type of there’s people that have properties up
that have been listed for oh so long you don’t want to do that you want to go
ahead get your money get in get out well you can’t do that if you choose but my
objective is to go ahead and turn my money especially when it comes to land
land can sit for some time for quite some time if you price it incorrectly or
if it’s just if it’s an attractive deal the objective is you want to be the the
the lowest price land parcel in the area because people are gonna look at your
property like wait a minute you know that’s a great deal get your money and
get on so you can sell land two ways once you acquire it you can sell it like
that fifty cents on a dollar or what you can do is use seller financing once you
acquire the land or obviously you can wholesale it so seller financed it would
be five hundred dollars down to fifty month that type of thing unlike a car
payment so but the most important step in this process is to go ahead and go to
the local and city local city or county website look up what’s going on with
that parcel find out what’s going on with that parcel that apartment complex
or that property whatever it is and just see what’s going on you know make an
evaluation there’s a lot of tools when it comes to the internet just to see
okay you know this I have a pretty good idea what you know what this is worth or
or you know I see the loans are means that our against it in tax issues
or what have you is it working it’s important for me to put this out there
because I’m getting contacted quite a bit regarding this particular issue and
I want to teach you how to fish as opposed to giving you the fish you know
as opposed to always looking it up because I’m looking up properties I’m
looking up 10 15 20 different profits from different people on a daily basis
because people don’t know what to do so this will give you a road map and a game
plan as to what to do how to start and once you start doing this more often
this will help you out okay this whether you’re a part of this channel or not
take this run with this you know if you’re working for another investor
somewhere out there take it run with it because I know they may not tell you but
this video will tell you look that you would save them a ton of time by just
going ahead and applying these simple steps okay and then as you make money
and then you could transition unto the paid services that will make your life a
little easier okay this is Jarrell guys have a good day

31 Comments

  • Mobery Walker

    Please can you use this information worldwide…..sorry I only just found this website…..you may have answer before.

  • lori Schwind

    Gerald, god bless you and your family. Thank-you for your knowledge and information, and thank-you for your heart and down to earth attitude. It is amazing to hear an intelligent teacher who expresses himself in a way that us simple folk can relate with, as in myself. You have inspired me and made me realize for certain, that investing in property is what I really want to do, and I'm trying to get my head around it, because I am trying to move beyond my fear, being accustomed to a meager existence. There is more. I am ready to start thinking differently, even though real estate has been an interest to me for years. You have opened up a world of knowledge. You have given the public a huge gift, because you have put family and people before wealth. Thank-you for pure insight, and the courage to change.

  • lori Schwind

    PS, your great grandmother was a blessing in your life, for realizing that you had the ability and intelligence and drive to do this, to take care of your family, thereby opening up a whole other world for a ton of people.

  • DRIFTWOOD PROPERTIES

    Gerald Iam a newbie looking to get started in North Ga. I pulled the tea data but it’s difficult to decipher. Any advise you can give me? It’s delinquent tax data pulled from Tax Assessor.

  • Alicia Laing

    You are so awesome! I've been researching wholesaling/investing for a few months now and following you and a few others. Your information is always clear cut and to the point n I love it! Thank you for being you and providing all of this valuable information ❤

  • Renata Padilha

    What?… you are amazing, you just explained to me so easy and I really appreciate it!
    For now ON I’ll following you , I had learned more from this 14 mins video compared to 2 hours webinars. Thank you and many blessings and success to you🙏🏼

  • Uber Wholesaler

    Can you talk about how the mail carriers indirectly input vacant house information into a database the can be tapped into?

  • stariasia Simmons

    Hi Gerald I wanted to ask one question my step dad passed away. He owned an apartment building now the building is just sitting there I wanted to know how can I get the building

  • alonzo lappin

    How would a person with $0 and 0 credit start out? I need to make some money, and have nothing going for me. 2 years left in school, and everyone is poor. I can't get a job, and currently can't get a license. I live 10 miles outside of town and only have a tablet, a few hours at night, and a phone.

  • Mindful Girl

    What do you do when the owner of the delinquent property is something like K and K realty? Or something like J Trustee? Should I proceed?

  • Phil B Gallegos

    Brother you are very full of knowledge, I wish I could be your disciple so I could learn from you. All what you saying is very informative thx! For taking the time to do this you’ll be blessed!

  • Nikita T Moodie

    So if the property is so behind especially on Thier mortgage is that something to still Persue ? Confused, is it only good to look for property not owned by the bank if you get a property that is delinquent in taxes and you purchase it for $100 is it legally mines?

  • Earl Mc Carroll IV

    What if the bank owns the vacant house know but i have been living there for 3 years how do i go about to ask the bank

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