I am curious to know what resources you all use to find properties in your area. Do you use websites like foreclosure.com, drive around to locate homes, search other websites? Any feedback is appreciated. I am looking to begin analyzing properties and this would really help me to get started.
Thanks in advance!!!! Shonnie from Sacramento, CA
I would advise you to start analyzing properties ASAP. I started with looking at properties on the MLS. I was able to run lots of properties and became rather fast at it. Within 30 seconds I look at a properties numbers and know if it is a deal or not. Robert Kiyosaki recommends that you analyze 100 properties before you make your first offer.
As you go through this process you will find places/websites that work for you. The MLS works, FSBO websites, and others. Driving neighborhoods is a great way to get to know areas and to find potential properties but I would not recommend driving for dollars until you get closer to being prepared. It is very time consuming.
@Shonnie Burnell what are you analyzing ? Are you looking for a house to purchase to fix n flip? to buy and hold as a rental? foreclosures.com and foreclosure radar will give you addresses of people going through foreclosure. It doesn't tell you if the people want to sell.
mls gives you all the homeowners that want to sell. fsbo is a site that sells homes.
I can give you more suggestions if I know what your looking for
thank you all so much! All the info has been very helpful! @Gordon Cuffe I'm really looking for houses to but and flip as my number 1 priority but am open to buying and holding as well. Adam B. thank you so much! What are some of the FSBO websites that you use?
Here are a few to try:
There's lost of them out there. It becomes difficult to search through them all but with persistence you will be able to find some motivated sellers. Understand that in the first 2 weeks of a FSBO they are called by multiple investors (typically a call center) and may be turned off by the term investor.
Thanks so much! Adam B.