Hey All,
I am looking for some help refining a process to search and contact home owners to buy their property directly for development purposes, ideally at below market value.
From what I can see this is a good strategy that a couple of people on the forum have addressed already where they see a property NOT for sale and try to go about contacting to owner. For me this has come about as a necessary born out of the ferocious appetite of investors and first home buyers paying whatever it takes to win, and obliterating my profit margin in the process.Now I have been trying to replicate this strategy, however have come across some roadblocks that I haven’t seen addressed in other posts which I would appreciate some help.
So here goes with the questions:
1) I already have access to RP Data through my work, and use it often to gather additional information. The issue i have here is that i find the data is pretty patchy and is not giving me enough data to successfully search a person down to send them a letter.
2) There are some suggestions on other posts that an alternative to RP Data would be to do a Title Search through the Land and Property Management Authority website. I was of the understanding that it would simply provide the same information as RP Data and due to privacy laws cannot give out any additional info.
3) Some of the properties I see do not even have personal names, rather they have company names, so I cannot use the white pages to track them down, is there a service similar to the Land and Property Management Authority website that can track down directors with contact details?
4) I am concerned that contacting these people will be in breach of privacy laws, is there any issues here (maybe specific to NSW if applicable)
I think if I can nail this technique down then I will be much more productive with my property investing. The next step for me would be to offer property options to every person that bites back, stacking up options to buy and renovate later and buying the others that for what ever reason don’t want to enter into an option agreement essentially locking down a strong supply of property to churn through.
So what do you all think? Thanks in advance for all your comments or thoughts.
Regards,
CarlHi good plan. Melbourne is rife with the pay anything mentality. I am at the stage of door knocking, the only thing I think is that dragging my two screaming kids around with me may work against me
!Will the local council give you postal details for the company names etc? When we where developing our block our company name was on the planning sign, council gave next door neighbors our address (just happened to be home address wont do that again) and they turned up on our doorstep to complain about plumbing. Ps not my problem. If they are giving out our details maybe they will give out others.
I think this would be a way more productive way to get property, it will involve time and hard work and you should document it so others can learn from it when you nail it. (probably charge for the privilege
)Let us know how you go.
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeCarl
Approaching the owners by name from RP Data information is a breach of the Privacy Act and carries with it fairly hefty penalities.
Richard Taylor | Australia's leading private lender
Hm! Good to know. If Carl door knocks someone, even if he has used RP data to source the property, to try and get options etc is that still a breach? Or are we bordering on a criminal gray area?
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email MeIf he sourced the information from RP Data yes it is.
He can write generally to "The Occupier / Owner" but not by name.
Richard Taylor | Australia's leading private lender
Just wanted to clarify if there is there another method where you can get Names and/or address' which is not in breach of the privacy act?
For example many of the occupants of each building are renters, not owners. Would it still a breach of the privacy act to source their address (say through the white pages) using the names of RP data but do not address them by their name ie: To the Owner/Occupier of Unit 1, 123 Fake St. It seemed that Richard makes the point that if you can prove that any personal data is taken and utilised from RP Data then regardless this is a breach of privacy laws.
Do all real estate agents looking for additional listing simply send letters to the letter box of the property they would be interested in marketing addressed to owner/occupier or is there another method that can get around this whole privacy act thing?Hi All
I can think of one way to obtain the details of the property owners where the property is owned in the name of a company:
1. Obtain title search to determine the name of the company that owns the property in question.
2. Obtain ASIC search for the company.The ASIC search will give you the names and addresses of the company's directors – bingo!
Now, i am not sure what implications this approach will have in terms of any potential breaches of the privacy law. Does anyone know?
Cheers
EvaCD
!
You must be logged in to reply to this topic. If you don't have an account, you can register here.
