Where do you look for your deals?

Just looking for new sources of leads. I am just beginning with no deals under the belt (i have made a few offers and waiting on sellers reply) but I am seeing leads from local newspapers and craigslist. I also drive the neighborhood.

Edited: 06/26/2010 at 06:19AM

Andrew Massaro

Wholesaler · Tampa, Florida

277 posts
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Nov 07 '08, 04:02 AM

First, make sure you continue to stay in contact the people you made offers to. If your offers are rejected, make a note to follow up, as often as you like, with a phone call. I can't tell you how many times I've had offers rejected, only to have the seller accept it later on.

Craigslist and newspapers are probably not going to be your best source of leads. Those properties are probably owned, or under contract, with an investor already. You want to reach the actual distressed homeowner. Any book on flipping houses can help you.

You want leads coming in from many sources. To do this, you need a well-rounded marketing mix, like bandit signs, mailers, networking, internet ads, classified ads, referrals, etc, etc.

Edited: 06/26/2010 at 06:19AM

Tim Launhardt

Real Estate Investor · wilmington, North Carolina

9 posts
50 influence

Nov 07 '08, 07:53 PM

thanks for the info andrew.

Edited: 06/26/2010 at 06:20AM

Lynn Dickerson

Real Estate Investor · Houston, Texas

54 posts
2 awards
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Nov 18 '08, 02:03 PM

Thanks Andrew, do you know a company that prints bandit signs that are fairly inexpensively? How much do you isually spend per sign? Does anyone know how I would find out if the laws in my area allow for hanging signs? I heard of them being taken down citing sign litter.

Edited: 06/26/2010 at 06:25AM

Tony L.

Real Estate Investor · Lakebay, Washington

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Nov 18 '08, 07:31 PM

If you want to find commercial properties not advertised and not currently on the market go to any Title/Escrow company and ask them to provide multiplex owner list for properties that have been owned in your selected area of interest that they have owned for 20 years. Reason for this criteria is these owners having owned these properties for a long time generally have a small mortgage and some may want to sell as they get closer to retirement. Another benefit to these owner's is that they often will hold a contract (no bank contact) at favorable terms to avoid the capital gains. Really too much to explain for a post since there is a lot more to tell but you may get the meaning here.

Edited: 06/26/2010 at 06:25AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

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Nov 18 '08, 08:24 PM

I'm very interested in current appreciating areas and low median price homes. I also don't want to re-invent the wheel. I pay attention to projections of appreciation and I go where that is and benefit. I've selected 3 killer areas in my career where appreciation was gigantic. I expect the area I'm in now to do likewise. Check out the following article. TWO YEARS in a row, we've been # 1 for projected appreciation.
http://money.cnn.com/2008/05/06/real_estate/100_forecast.moneymag/index.htm?postversion=2008050817

Edited: 06/26/2010 at 06:25AM