Figuring out where to drive takes some thinking. We need distressed property, but it needs to be in areas where investors want to invest. Here is what you need to do:
- Go to ListSource.com and create a free account. It’s important you have the account created before we do the search.
- After creating the free account go to “Create Your Own”
- Under the “GEOGRAPHY” tab, let’s find your COUNTY. So you enter “County” on the first pull down menu, then your state in the second pull down menu, and then find your county and click ADD.
- Next move to the “PROPERTY” tab and select on the pull down menu, “Property Type.” On this select 5 types: Residential: Multi-family, Residential: Duplex, Residential: Triplex, Residential: Quad, and Residential: SFR.
- Next under the same “PROPERTY” tab, select, “Last Market Sale date” and find 6 months and then add.
- Next under the same “PROPERTY” tab, select, “Equity %” and enter the custom amount of 99%-100% which represents cash buyers buying in these zip codes over the past 6 months.
- Next under the “OPTIONS” tab, select the following: a) Absentee Owned; b) Exclude trustees (too hard to find address); c) No preference for corporate owned (many investors use LLCs); and d) Both Mailing and Property Address complete.
- Next at the bottom, hit “Purchase List” – don’t worry, you do not have to pay.
- At check-out page, go to tab, “Purchase Partial List” and hit “Custom Selection.”
- Select Zip Code – and find the zip codes where more cash buyers are buying in your selected County. Export the list to yourself by hitting export and putting in your information. That is how you find the hot zip codes for cash buyers. Good luck!