I am a new investor having serious trouble finding any inventory in my area. My current avenues have been strictly mls/craigslist. How can I broaden my search to more off mls properties? I live in Hammond, LA and have currently only been looking in the Hammond area. Should I look to doing my own marketing? Can foreclosure or soon to foreclose list be obtained (that aren't listed w/ mls)? I have been looking for over a year now and have not closed a deal (although I have been close). My finances are all in order..I just need to find the right deal to get started. Any advice? Thanks!!
Direct marketing may help. But that is also time consuming & costly.
How good of a deal are you trying to get?
But after looking for over a year maybe your being unrealistic?
@James Wise I have had one deal under contract that didn't go through so a decent amount of my time was hung up on that deal. I don't think I'm being unrealistic, but it may be possible. The deal I had under contract was a 10 year old duplex, rent ready, for $65K, and each unit would have rented for $600. Something along those lines would be ideal. It fell through due to title issues (fannie mae deal). The property should come back on the market, but I'm not sure how long that could take. I honestly don't think I'm being that picky…it's just that the inventory in my market is very low. I'm really just looking for anything that will cash flow and there doesn't seem to be much in my budget ($100K). Rental, rehab, flip, anything...
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