How to Find Off-Market or Out-of-State Real Estate Deals
Savvy investors find hot commercial real estate investments outside their local market by exploring out of area markets. If you take the initiative to look for commercial real estate outside of your local area, you are more likely to see decreased competition, easier deal negotiation, and you will probably be able to snag the property you had in mind with better terms than if you'd pursued a typical listing. For these reasons, it seems like a no-brainer - You need to find off-market commercial real estate!
Get to know your fellow investors
While most folks will immediately turn to online websites for real estate properties that are listed for sale, you want to buy off-market properties. So, it's important to approach things differently.
First, you want to get to know and make friends with other real estate investors. While at first, this might seem counterintuitive because you might think they are your competition, there's actually a TON of value in having relationships with people who share your interests.
Connect With Area Contractors
A good idea for individual investors is to connect with contractors in your desired market. Contractors often can help you find unlisted real estate because they know what renovations they've quoted and which owners have been considering a change. You might even consider partnering with a contractor to help you buy a distressed property and hit your investment goals.
Use Direct Mail For Investing In Off-Market Properties
A lot of real estate investors use direct mail to find off-market real estate. Direct mail marketing does not require a lot of money and you can help generate off-market leads for years to come.
Whether you are a new real estate investor or you've got some experience under your belt, you should consider direct mail marketing because it's a quick way to get your name out there.
Your first step in starting a direct mail campaign is to figure out your audience. This way you can craft a very well thought out targeted campaign. After you have created your mailing list, send out the mail to residential real estate, apartment building owners, and other types of properties that you’d like to have in your portfolio.
Try Your Hand At An Auction
You can find great deals at an auction as the properties up for auction may be distressed properties at a low price point. Likely, there are regularly occurring real estate auctions in or near any zip code, and this makes it really easy to connect to excellent off-market commercial real estate deals in any area!
Find Off-Market Properties Through Wholesalers
Wholesalers can help you grow your taxable income, add to your net worth, or develop rental income because they often have a lot of information on, strategy around, and insider knowledge about off-market opportunities.
