Finding Deals

5 Replies

Hello,

I am just starting out and looking for deals/residential homes to rehab in the Augusta GA, Aiken SC and Columbia SC areas. The question I have is how to go about developing the "pipeline" so you can get a constant flow of properties to research. So far I have been researching expired listings on the MLS, looking in the newspaper, talking to friends, real estate agents who are investor friendly, lawyers, knocking on doors, Craigslist etc.. Am I going about this right or are there websites, paid subscriptions that are worth it? I have no problem with trying anything & everything in the beginning but I don't want to waste time if there are more productive ways without exhausting so much time. Any help would be greatly appreciated, Thank you!

@Robert Harwood - Hey Robert, welcome to BP and REI. Glad to have you with us.

It sounds like you have a good idea of some of the ways people use to find good deals. The only big method that I've seen mentioned on BP that I don't see in your above-mentioned examples is Direct Mail.

Don't look for the quick deals, seems to be one of the better ways of getting into trouble!

Thanks Matt, good advice, I've heard of people doing that and being able to target certain audiences but have been reluctant to pursue it due to low success rate I have read about 2-4%. I will definitely keep it in mind for the future and glad to be here. 

Another good way is to work with wholesalers and other investors. There are investors and wholesalers in your area who are clamoring to get great deals, do all the leg work, and leave you the option to choose the deal that best matches your criteria. 

How to Find Investors and wholesalers:

  • Start with your local Real Estate Investors Association (REIA). Search online for the
    dates and times of upcoming meetings. You don’t have to be a member to attend, however you may have to pay a small fee at the door. Bring business cards and the type of deals you are looking for.