I am already an investor albeit a very new one. I only have one property and I am placing bids on my second one right now.
My question is how do you search for certain properties? For example a 6 unit? Trulia is pretty bad at pulling up 6 units.. I do not have access to MLS.
What is the best ways you guys/gals search for properties? See trends or find comps in the area?
Crime/Comps are pretty good on Trulia but that's about it.
Thanks in advance!
I agree that Trulia is good for things like crime stats, etc. but I’ve found that I’m constantly going back and forth between apps (Zillow, Trulia and Realtor) to figure out what info I need.
Would be great if one site had all the info easy to access/search.
I know some apps allow keyword searches but I think a 6 unit specifically may not show like something like “multi-family” would.
Great questions. Finding good properties is all about casting a wide net in the right places. I buy them from all kinds of sources. Some things I do:
-My realtor set me up with auto emails on the MLS for properties that match my criteria, plus I can search it. Found a lot like this.
-My realtor is networked with whole sellers. He brings me deals from them. Found a lot like this.
-I search LoopNet and Craigslist for off market stuff. If I find a fsbo, I loop my realtor in for a flat fee or % (just to handle on the back end, something like 2% or at least $1k). Found 1 multi like this.
-I drive around, looking at properties. Found a couple of great ones like this.
-HUD auctions. I've bid a lot, never got one.
-Courthouse step auctions. Never been, want to try.
If you're not working with a realtor, you should interview some. A good one can be a huge asset. Mine is a true partner. Trust him completely.