Real estate investing is not just about acquiring properties; it involves a depth of research and understanding the real estate market. One key piece of information that can be a game changer for real estate investors is property records.
In this blog post, we're going to guide you on how to find property records for King County, Washington, and how to use them effectively for investing in rental properties.
King County, being the most populous county in Washington state, is an attractive location for real estate investment. The information obtained from property records can provide a clearer picture of the opportunities, risks, and potential returns on investment. Use this information as your secret weapon when investing in rental properties within King County.
Why are property records necessary for real estate investing?
Property records contain a wealth of information that can benefit real estate investors. These records provide historical data, owner information, property value, and much more. All these details play a crucial part in making informed investing decisions.
Knowing valuable information such as previous purchasing prices, property taxes, and if there are any liens could help investors determine the profitability of a property. This background knowledge not only saves you time and money but reduces the risk of potential roadblocks down the line in your investment journey.
Property records can also tell you if certain properties meet the criteria you are looking for in your investments. Maybe you only want to have 3 bedroom houses. Maybe you are looking for certain lot sizes. All of this information can be found in the property records.
Understanding King County Property Records
A typical property record in King County comprises information about property details, tax history, owner details, and more. Such details help in evaluating the property's growth potential, understanding the neighborhood's real estate market, calculating property taxes, and uncovering key facts about the owner amongst others.
How to Access King County Property Records
Accessing the property records in King County has been simplified through the advent of digital databases. The records can be retrieved at the county records office, online, or using software. Here are a few simple steps on how you can find King County on DealMachine:
- Log into or create your DealMachine account
- Open up the Map tab on DealMachine
- In the search bar, type the zip codes associated with King County (98052, 98105, 98092, etc.) or add the cities of King County. Pro tip: If you are looking only for specific cities in King County and not all of King County only add those specific cities to keep your list tailored to the areas you are looking to invest in.
- If you are pulling the list of properties, use DealMachine's filters and add in any other motivating factors like absentee owners, vacant homes, senior owners, etc. If you aren't pulling a list and are just curious about all property records, you can peruse the list of properties in the right-hand side bar.
- To finish pulling your list, navigate to the bottom of the page and hit "Build List"
The information includes parcel information, legal description, property value, and tax information - all vital for real estate investing.
Alternative to using software like DealMachine, you can go to the county records office and ask to see the public records for specific properties. While this way to find records is free, it is extremely time-consuming. That's why using software to pull a list that can give you the data at the press of a button are appealing.
Tips and Tricks for Analyzing Property Records
Now that you've obtained the property records, understanding and interpreting them in the correct context is paramount.
- Owner Information: This is helpful to confirm the legitimacy of the seller during a sales transaction, or to contact the owner and reach out to off-market properties. DealMachine is the only platform to offer free unlimited contact information, so you do not have to pay for skip tracing to reach out to these owners.
- Property Value: A key factor when assessing the profitability potential alongside property taxes and other charges.
- Historical Data: This can give you insights into market trends and property value growth over time, helping you make more informed investment decisions.
- Tax History: It's noteworthy to check the Property Tax bill regularly to understand financial obligations.
- Parcel Information: Details of the land area can help you comprehend the potential for property development and expansion.
In conclusion, utilizing King County property records can give real estate investors an edge when investing in rental properties. These records can provide valuable insights that could impact investment choices positively. The process may seem overwhelming, but with the right tools and understanding, any real estate investor can master the art and reap the benefits.
About Samantha Ankney
Samantha has been a media specialist for DealMachine for 2.5 years. She produces, edits, writes, and publishes all media that is distributed to the DealMachine and Real Estate Investing community.