Finding off market deal suggestions

2 Replies

Ive grown to understand that you make money when you buy. I also understand that in my area, the market is astronomcally expensive. My wife and I are looking for a multifamily to house hack and its proving to be difficult because the market it so expensive. (650k for a duplex around here). So we’re looking for an off market deal that maybe we can live-in BRRR In listening to BP and reading articles ive been learning of ways to find off market deals which ill list. Anyone have any other ways? Ways i know: List source (look up pending foreclosures or people behind on their mortgages) Obituaries (ive heard of this one although wouldnt feel too comfortable with this call) Calling people who are renting their houses out (not everyone wants to stay a landlord so maybe they’ll sell) Speaking to local accountants and lawyers to see if they know of any divorces or people needing to sell Fannie mae Homepath app Anyone have any other suggestions?

@Nick Causa - That, my friend, is the million dollar question! Seriously, the hardest part of what we do is finding off-market deals.  My response really depends on how much you want to spend on finding the deal.  The cheapest thing to do is "drive for dollars" and when you find something you like, follow up with calls, mailers, and door knocking on places that interest you.  The more expensive options are doing mail campaigns or internet marketing.  Though the problem with those is that you might end up getting lots of calls from sellers who have houses that might be great investments but not great for you to live in.

Another option is go to as many local REIA meetings as you can and start telling people exactly what you are looking to purchase. Networking like that can yield great results. If you are a cash buyer, ask to get on wholesalers buyer's list.

Lots of options out there.

Best of luck!  Report back if/when you get your new place!

Thanks so much. Here’s a dumb question: when “driving for dollars” are you just going to any property and reaching out? Or following a list of owners who are behind on their mortgages?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.