Many investors ask me to send them properties in a specified area that are owned free & clear (no mortgage). Generally, the reason for this is that they are looking to purchase the properties using 100% owner financing.
As a realtor, I have access to the Multiple Listing Service (MLS). The MLS is a tool that realtors use to find properties with specific characteristics in a particular area, but unfortunately, it doesn’t allow me to search for “free & clear properties”.
Although the MLS doesn’t allow realtors to search for free& clear properties, it’s still not very hard to find them. Here’s how you can do it: Email me to let me know exactly what property characteristics you’re looking for and in what towns (provided you’ve already filled out the Investor Questionnaire). Once I email you that list of properties, Go to the Town’s Assessor website (Google it) and type in the properties addresses. This will give you the property card. The property card gives you a lot of information about the property including when the seller bought the property, how much they paid and how much they took out in loans. If there’s no loan information, or if the last loan was made over 30 years ago, odds are that they own that property free & clear.
So there you have it, It’s just that easy. If you’re interested in purchasing properties for the purpose of investment, please click here to fill out my Investor Questionnaire.
