Why Every Investor Needs a Property List
You can't buy properties if you don't know which ones to target. A property list is your roadmap. It tells you where to focus your time. It tells you who to contact. Good lists lead to good deals. Bad lists waste your time. This guide will show you how to build a great list from scratch.
What Is a Property List?
A property list is a collection of addresses you want to target. Each address represents a potential deal. Your list might have 50 properties or 5,000. The size doesn't matter as much as the quality. Good lists focus on motivated sellers who are likely to sell.
Step 1: Choose Your Target Area
Start with one neighborhood or zip code. Don't try to cover your whole city at first. Pick an area you know. Pick an area where property values are good. Pick an area where you'd want to buy. Focusing on one area makes everything easier.
Step 2: Decide What Type of Properties You Want
Do you want single-family homes? Duplexes? Vacant land? Pick one type to start. Different property types need different strategies. Single-family homes are easiest for beginners. They're easier to buy and easier to sell.
Step 3: Look for Motivated Seller Signs
Not every property owner wants to sell. Focus on owners who show signs of motivation. These signs include late property taxes, code violations, vacant properties, absentee owners, inherited properties, and properties listed for rent. These situations create motivated sellers.
Step 4: Get County Property Records
Most counties have property records online. These records show who owns each property. They show property addresses. They show when the owner bought the property. They show if property taxes are paid. This information is usually free or cheap.
Step 5: Filter for Vacant Properties
Vacant properties are great targets. The owner isn't living there. They're paying taxes and insurance for nothing. Many want to sell quickly. You can spot vacant properties by driving your target area. Look for overgrown lawns, boarded windows, piled-up mail, and no curtains or furniture visible.
Step 6: Find Properties with Tax Problems
County records show which properties have unpaid taxes. Owners with tax problems often need to sell fast. They might owe money. They might be facing foreclosure. These situations create urgency. Urgency leads to deals.
Step 7: Look for Properties Owned a Long Time
Owners who've had property for 10+ years often want to sell. They might be tired landlords. They might have inherited the property. They might be retiring. Long-term owners usually have lots of equity. That means they can offer better prices.
Step 8: Use Skip Tracing to Find Owner Contact Info
Now you have a list of addresses. Next, you need to contact the owners. Skip tracing finds phone numbers and addresses for property owners. You can't make offers if you can't reach the owner. Bulk skip tracing makes this step fast and easy.
Step 9: Organize Your List in a Spreadsheet
Use Excel or Google Sheets to track everything. Include property address, owner name, mailing address, phone numbers, property details, and notes from conversations. Good organization helps you work faster and avoid mistakes. Check out these tips for better tracking.
Step 10: Start Small and Test
Don't build a list of 1,000 properties right away. Start with 50-100. Contact these owners. See which types respond best. Learn what works. Then build bigger lists based on what you learned. Successful investors start small and scale up.
Common Mistake: Trying to Do Everything at Once
New investors often try to target every type of property in every neighborhood. This spreads you too thin. You can't become an expert on everything at once. Focus on one area and one property type first. Master that before expanding.
Common Mistake: Ignoring Property Condition
Not every vacant or absentee-owned property is a good deal. Some properties need too many repairs. Some are in bad locations. Drive by properties before adding them to your list. Make sure they're worth your time.
Common Mistake: Not Updating Your List
Property lists go stale. Owners sell. Phone numbers change. People move. Update your list every few months. Remove properties you've contacted. Add new properties. Fresh lists get better results.
Build Your List and Start Investing
Building your first property list is exciting. It's your first real step toward becoming an investor. Start with one area and one property type. Look for motivated sellers. Use skip tracing to find contact information. Keep your list organized. Start small and learn as you go. Ready to build your list? Try SmartSkip free and start finding owners today. Also check out our guide on improving your contact rate once your list is ready.