Finding properties

3 Replies

I'm having difficulty finding properties in my area. Can anyone suggest methods (other than courthouse auctions) for uncovering the good leads? 

@Joe Tinnerello  Hey Joe! You may have to try a paid product that identifies issues that would lead to a real estate transaction. Rebogateway or Listsource might be what you need. I'm sure there are tons of others I just routinely see those two mentioned on the forums.

Hey @Joe Tinnerello  I'm by no means a marketing expert (yet) but have you explored any of the traditional means of marketing to motivated sellers (yellow letters, bandit signs, postcards, door knocking)? I don't know anything about your area, but you could also drive around and look for vacant houses then track down the owner and see if they're willing to sell.

I might be stating the obvious with all this, but figured I'd put it out there.

Joe,

There are many ways to find properties in you local market or areas. I know everyone always tells you to go with cash to the courthouse steps on tax auction day, but that is by no means the only way to find good deals. Consider some of the following ideas.

-Going to REI clubs and networking with other investors and wholesalers.

-Realtor.com (If you know your market, you can identify older listings that are good listed deals)

-Foundation Companies

 Foundation companies know of individuals who cant pay to fix their foundation, the property owners cant  get it insured and they sometimes look to sell...great lead source

-Divorce attorneys

  They will be the first ones to know of properties that two individuals want to dispose of   before an agent is called to market it.

-Realtors: This is probably the most used. Network with agents and tell them the criteria of house you look for (3/1 1,200 sq ft...etc). Tell them you are a cash buyer with Proof of Funds (POF). Follow up with them once every week  and go ahead send them your POF letter at first to let them know your serious.

Brandon Turner talks about focusing in on "farm areas" in his book on Bigger Pockets. This is also commonly referred to as the "kill zone." The idea is by learning/knowing the market in certain area of a city (what house sell for, house fast...etc) you can quickly identify whether a property is a good deal or not. 

Join the Largest Real Estate Investing Community

Basic membership is free, forever.