Best Tools/Websites for Researching Off-Market Properties
Hi guys!
I have a couple quick question for everyone here:
1. What tools/websites do you guys use to research off-market deals?
2. What data point are the most useful? Which ones are difficult to get and how are you going about finding them?
Hey @Khaled Ahmed - there isn't a database of "off-market" deals or any software that just has a list of all off-market properties. Any property that's not publicly listed for sale is technically an off-market deal.
That being said, there are a few tools that exist out there such as PropertyShark, PropStream, etc. that can help you aggregate a lot of publicly recorded data.
Your post would be more helpful to understand if you shared what your goal was with the off-market property... for example, are you looking to wholesale? flip? etc.
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@Mohammed Rahman - Thanks very much that is super helpful. I'm currently just looking for a multifamily deal and was curious how other people are doing this.
Regards,
Khaled
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Most off market deals are sent by wholesalers, wether it's being on a list or browsing Facebook. Best way to generate off market leads is by cold calling, door knocking, text blasting...
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Off market is everything not publicly blasted.
Data for me would be current NOI, acreage, zoning. I only buy industrial NNN properties
Off market deals are made rather than found. Drill down on what it is you want to buy, and where it is you want to buy it. Then find all of the people who currently own what you want, where you want it. Or set up a way for them to find you. Make offers.
That's the slim outline of it, but that's the way it works. Sites used to find the properties and the people who own them are plentiful. In my opinion, Corelogic products like Realist and Listsource are reliable and easy to use. (Full disclosure, I am an authorized reseller among other things, but I chose this company for a reason).
This is a personal pet peeve of mine. The only time you should use "off market" to describe a property is when a buyer is talking to an owner directly.
If there's a broker, wholesaler, bird-dog or any kind of intermediary between the two then it's "pre-market" or "limited marketing" property.
Sorry, couldn't resist it :-D