Title Searching and Other Research

I came across this website while searching for owner information. I don't know if anyone has used it but I thought I would share it anyway. It gives you info. on the property like owner names, date last sold and how much sold for, taxes, property size etc... I found it very useful.

http://www.propertyshark.com

I just paid for the extensive report on comps at www.electronicappraiser.com for an FSBO I'm looking at.
It was $29.95, which is worth it if the information is accurate. The owner is asking $52,000. the report says it's current FMV is $91,000. Has anyone here used this resource before, and do you find them current? According to the comps I was using, I expected it to be more like $70,000. It is possible that this is because the land included with the 2/1.5 (which includes 4 large lots) is zoned residential OR industrial. Does anyone have any thoughts on this?

Rina

Performing a Title Search
When conducting a phase I investigation it is necessary to obtain a parcel number or a parcel map in order to obtain a title or deed for the property in question. The title or deed helps to establish the responsible party as well as the contact person for that particular piece of property and is helpful in obtaining history of past tenants or any attachments that may be included with the deed.

One of the many benefits of owning cash flow properties is that real estate rent, collected as income, are considered passive income by the IRS and are exempt from FICA taxes –no matter how large they grow! Most earned income is not exempt, and if you happen to look at your standard paychecks you will see a FICA deduction.

Property tax question.
I found a property that the owner will carry $229k
an I need to get a mortgage for $200k. my question is do I pay property tax on the $429 or the $200k?

Anyone know of a good site to find comps? I have asked my realtor several times and she gives me 2,000 homes, in which could take weeks. (she is prob on her way out the door any ways) but in the mean time, any other ways than depending on one or two people, the realtors? Any good site, or public info? I would greatly appreciate it.

Thank you.

Attn: Anita or anyone who may know...

Suppose I am interested in a property. I talked with the lender and the owner, but I still want a bit more info. (hope to find it at home too, instead of driving around, but I will drive if I have to)

When looking at properties you should look for the expenses needed in the house. As I go through houses I use a one page evaluation form for each property I look at. I also use short hand any time I find a repair needed to save time.
- For example:
- DR = Door
- CPT = Carpet
- WD = Window

You may use any short hand you would like.

If I just put the short hand on my evaluation sheet it means that item needs repair or cleaned. If I place an “X” over the short hand this means the item needs to be replaced.

This site will give SOME FREE information but to get most of what you need you will have to pay a small fee but I have found it to be pretty useful. There are a lot of other services out there that you can use but I thought this one was pretty accurate.

https://www.intelius.com/property-check.html

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* Reverse Cell Phone Directory

Is is possible to get property with an option to sale and not own the property and sell it with an option?