Here's my question: What can I do to find potential deals in my area to analyze without giving off the impression that I'm going to buy?
I'm brand new to real estate investing and am extremely excited about it. I've been listening to biggerpockets podcast and reading the prescribed books. So far I've read Frank Gallinelli's book - What Every Real Estate Investor Needs To Know About Cash Flow...And 36 Other Key Financial Measure, and Brandon Turner's book The Book on Investing in Real Estate with No and low Money Down.
I feel like I'm at a point where I should get my feet wet and practice analyzing deals. My goal is to house hack with my first investment property, but I'm open to going other routes if they make sense. I've been using redfin.com to find deals in my area. A lot of the ads say I can just request financials, but I don't want to give them the impression that I'm a serious buyer by reaching out.
Thanks in advance for any help!!
I would find a realtor in your area that was personnally recommended to you. Preferably one with investment experience. Seek out this person and say to them " I am a new investor, I'm trying to get my feet wet but I want to start analyzing properties so that I can narrow down exactly what I want. If you could help me with that and let me do my research I'd love to use you as my realtor for my first purchase"
I'm sure they will be more than happy to have a future prospect in you. They will then send you listings through the MLS by email, narrowed down to your specifications (price, number of units, county). This takes them really no time or effort at all. Win/win for everyone. My theory is... Let them earn their commission.
the MLS on investment properties should have all/most of the financial info listed.
go on craigslist, find all the FSBO's and comp them out to find out if the asking price is in line with the market. Do this every day for a month.
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