Real estate investors are constantly on the hunt for profitable investment opportunities. As goal-driven as they are, they always look out for great properties to add to their assets. However, it can be challenging to determine who owns a property and obtain their contact information so that investors can contact them right away. If you’re in the same scenario or trying to figure out what to do when it happens, you’ve come to the perfect spot!
If the situation above sounds familiar or interesting to you, then you should probably learn more about real estate skip tracing in the context of the real estate industry.
Skip Tracing for Real Estate Defined
What is skip tracing in real estate? It’s pretty clear and straightforward. Skip tracing, in the general sense of the term, is the process of locating someone difficult to find. The term “skip” refers to someone who purposefully disappears or skips town.
In the real estate industry, skip tracing is the process of identifying the owner of a particular property.
All that is required is for the real estate investor to locate the property owner and make an appealing deal. Skip tracing is a method for real estate investors to find the owner’s personal information and contact details.
Do I Need Skip Tracing?
You may find solace in the fact that skip tracing is only done by a few persons in the real estate sector. It’s because they either don’t want to or are reluctant to spend the time and money needed to find particular property owners.
Well, that may sound like excellent news to you, especially given how tough the competition is becoming by the day.
As an investor
Skip tracing for real estate typically involves going the extra mile to look for abandoned property owners. Once found, these owners may become hopeful sellers who could give investors a pretty good real estate sale.
The more difficult it is to identify the homeowner, the better your odds of success in that deal. This is because of the clear fact that no other prospective buyer has been able to make contact with that homeowner, which means the possibility of convincing them to sell you the property is really high.
Types of Skip Tracing Services for Real Estate
More often than not, a simple search engine or social network search may yield helpful information on the homeowner you’re looking for. So, if you can’t track what you’re searching for on your own, see what you can come up with before paying for a service.
Skip tracing is often divided into two types based on the job’s difficulty: Basic and Advanced.
Skip-tracing software frequently uses basic skip tracing. It will search public databases and compile all of the results into a single report.
Advanced skip tracing, on the other hand, requires the services of a private investigator.
How to Skip Trace (& some tricks)
Some skip tracing software for real estate investors is more user-friendly than others. Some need you to input the addresses one by one to obtain the results. Others provide bulk skip tracing to make it easier to collect data on several properties simultaneously. Some, on the other hand, are committed to helping you get back your time.
SecondYou Go Skip Tracing Feature
SecondYou Go is a real estate virtual assistant mobile application that is now accessible in the United States. It allows you to delegate real estate tasks whenever and wherever you need them.
This mobile application, created with the cooperation of SecondYou’s real-estate virtual specialists, can do a wide range of activities because it covers six distinct real-estate categories and provides over 26 different tasks to select from. Real estate skip tracing is one of them.
With only a few taps inside the app, you can begin looking for distressed property owners for potential deals!
How to assign your real estate skip tracing task in SecondYou Go:
Step 2: Setup your account profile. Once finished, go to More > Login/Passwords and submit all of your marketing assets and vendors in the application.
Step 3: Tap Prospecting and proceed to Skip Trace. Tweak the settings to your preferences.
Step 4: Wait for the results to show up.
Want to know more? Request a Demo and learn about skip tracing and all the features of SecondYou Go without all the trouble.
Real Estate Skip Tracing Costs
The service cost varies with each skip tracing task since the amount you pay for skip tracing tools is determined by the data you want and how frequently you intend to use the service.
However, the average price for each frequency and intensity is as follows:
The price you pay will most likely be determined by how difficult it is to gather information on each individual.
A private investigator, for example, should cost between $40 and $100 per hour.
- Per record
Some providers will charge a fee for each record of a property owner that is searched.
The cost of the report will vary based on the amount of data you get.
Pricing: Some websites charge $1 – $2 for each lead, while others charge $10 – $24 per lead.
If you intend to conduct a large number of searches, it is preferable to choose a service that costs a monthly price rather than an hourly or per record fee.
Some service providers give endless searches, while others provide bundles with varying restrictions.
- SecondYou Go Skip Tracing
The SecondYou Go application uses credits in order to request tasks. It offers flexible payment methods on its different subscription plans. Depending on your needs, you may choose between a monthly subscription and pay-as-you-go. Real estate skip tracing service within the app costs 30 credits and covers up to 1000 contacts.
Interested? Request a Demo of the app now!
As cliché as it sounds, skip tracing for real estate helps you get prospects that other investors are not getting. It demands more time and money, but the returns are worth it.
Getting the best skip tracing service for real estate investors is fundamental in real estate investing, and skip tracing makes this much easier.
Ready to reach new heights in the real estate scene? Join one of our weekly FREE DEMO webinars and find out how you can get started and get free credits to try our application!
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