Hi, just curious as to what method do people generally use to find deals? What is the method that usually works best for you? Most Cost effective?
Depends on the type of deals you are looking for. Flips? Buy and hold? Are you just starting out or have you already got quite a bit of experience investing? For someone just starting out the cheapest way is to just look on MLS. It's free and while they won't be the highest return deals you could possibly get, there are still deals and there is basically no barrier to entry. Direct mail etc. may provide better deals but you have to put quite a bit of money in before you see any results.
Thanks for your response @Aaron K. , do you use direct mail as a form of marketing? If so, what do you use a letter or postcard? What is your typical response rate during a campaign?
@Scott Showers I do not personally use direct mail, as my buying volume is not enough to justify the expense, but a typical response rate will be less than 1% with even fewer of those who respond actually wanting to sell at a reasonable price.
@Aaron K. I don't mean to forum hijack here, but I was under the impression the MLS was available to RE agents? Is this publically available for anyone to access?
@Aaron Hall MLS access is only available to RE agents, however they will share any and all listings with you for free if you are buying. (they make their money from the seller)
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