possible to find UNDERVALUED properties on Zillow?

Question

Hey,

Been trying to find undervalued properties on Zillow but doesn't seem it's very common. Has anyone used Zillow to find them or if you used other methods such as county assessor let me know how to get in contact with the foreclosed homes. Thanks!

Jaret Walker · Answer

@David Tran

I have had the best luck with for sale by owner because they are usually not as educated about what they are selling. I find them by simply driving around areas that I am interested in and looking for properties for sale. And through my network of people I know they find a lot for me. I am in regular contact with everyone in my industry in my area (small area). My contractors, bankers, real estate agents, landlords, and fellow real estate investors all send me leads on a regular basis some good some bad but the more properties you have to choose from the better.

Michael Stutelberg · Answer

Yes, I continually find undervalued homes on Zillow/MLS. These are primarily homes that haven’t sold for a year+, distressed seller or foreclosures. Then I contact a realtor to make an offer or to view the house.

David Tran · Answer

@Jaret Walker thanks Jaret, what methods do you prefer? I tried to look through the county's website for foreclosed but don't know how to get in contact with the homeowner (unless I call them).  Do you recommend paid services such as foreclosed.com etc.? thank you

Jaret Walker · Answer

@David Tran

Yes it is possible but very unlikely. I have purchased one listing from Zillow that was undervalued but only because the owner was a new investor and didn’t know what current rents were.