Watch the Ads in a Legal Notice Paper for hot deals . . .
In almost every town and county there is a newspaper for “public legal notices.” It usually comes out weekly, but in a big city it may be daily.
You can subscribe to it, or buy it at their office. These newspapers make their money by selling ads required by law to announce auctions, foreclosures, tax, and unclaimed property sales, divorce and probate estate sales, sales by the tax authorities and drug enforcement administration seizures , government surplus sales, seeking missing heirs and many more categories requiring public announcement notices.
In my bad old days —for 50 years— I got many leads from these adverts. My practice for years was to bid $10 on everything.
I picked up a lot of property slivers and much worthless stuff. But also a few gems!
Every now and then I could sell something for very serious money like a huge library for $10,000, and in one case, a whole uninhabited island for $100,000. These deals cost me only $10. because I was the only bidder. I could and did write a book about these deals.
While “flipping” sounds easy, it usually involves work! Clearing a lot of bureaucracy, getting permits, actually fixing up a place, sometimes evicting old tenants or squatters, blah blah blah. Lots of stress! But if you can end up with a net worth of $50 Million in a decade or so, well, it might be worth it to some people.