New to Real Estate · San Antonio, TX · Member since 2017 · 5 posts · 3 votes
My wife and I are looking buy a duplex in the San Antonio area. As I’ve looked on Zillow and other sights there are not a whole lot of properties for sale in the areas we would like to live. I have driven around and know that there are duplexes.
Does anyone have other ideas of how to find a houses for sale besides looking on the big websites?
Rental Property Investor · Drums, PA · Member since 2017 · 345 posts · 365 votes
8y
I’ve had success by working the rental pages on CL and the local newspaper. I simply let them known that I’m not interested in renting, however I would like to talk about purchasing their property. The phone calls usually have about a 79% success rate “meaning the owner is willing to talk at least”.
You’ll then obviously need to analyze the deal as you would a listing you might find.
I’ve been able to identify some very profitable off market deals this way.
Good luck
My wife and I are looking buy a duplex in the San Antonio area. As I’ve looked on Zillow and other sights there are not a whole lot of properties for sale in the areas we would like to live. I have driven around and know that there are duplexes.
Does anyone have other ideas of how to find a houses for sale besides looking on the big websites?
Nicolas,
I would get in contact with an agent who has some experience with multifamily properties. San Antonio is a competitive market and it's always good to have an agent in the trenches looking alongside with you. What area's in SA are you looking?
Rental Property Investor · Drums, PA · Member since 2017 · 345 posts · 365 votes
8y
I’ve had success by working the rental pages on CL and the local newspaper. I simply let them known that I’m not interested in renting, however I would like to talk about purchasing their property. The phone calls usually have about a 79% success rate “meaning the owner is willing to talk at least”.
You’ll then obviously need to analyze the deal as you would a listing you might find.
I’ve been able to identify some very profitable off market deals this way.
Good luck
Wholesaler, Rehabber and Landlord · San Antonio, TX · Member since 2014 · 2k+ posts · 2k+ votes
8y
It all depends if you want a deal or just pay retail. If you want to pay retail like everyone else, yes call a realtor.
If you want to find a deal, you have to do some marketing. Marketing is not cheap and it does take a while, but it ends up saving you tons of money. The side benefit is that you may come across other deals that, if you dont want them, you can wholesale to other friends who are investors.
Do some research on marketing for properties or read some books. Personally, I tell everyone that I know that I am looking for people who are behind on their mortgage, behind on taxes, they have a rental property that they dont want or inherited a home that they do not want.
I also send postcards to lots of people every month.
New to Real Estate · San Antonio, TX · Member since 2017 · 5 posts · 3 votes
8y
@Mike Dorneman Thank you, that’s helpful... I suppose that if you are looking at CL you will mostly be talking to owners? I thought about calling rentals but my fear was that I’d just reach the property managers instead.
Rental Property Investor · Drums, PA · Member since 2017 · 345 posts · 365 votes
8y
@Nicholas
Fear is the main reason people fail in this business, just jump in. You may get a property manager, but turn that into a networking opportunity. Write out a brief script so you’ll have something to follow when that hometown does answer and says, Yes! Good luck
San Antonio, TX · Member since 2016 · 240 posts · 163 votes
8y
Nicholas Ziegler There’s one in Beacon hill right now that looks nice 821 W. Woodlawn. I’ve seen it listed for a while now so curious why it’s still sitting.
This is a fantastic post. As I'm in a similar situation my truck is almost payed off and ill have the option to buy a house soon.(hopefully a duplex.) I'm wondering what are the steps to purchasing a duplex you found on craigslist? also at what point does the script come in handy? So lets say you've successfully called a landlord and talked about purchasing a home you found on craigslist and you've ran your numbers/analyzed the deal and know you want to purchase it. would you then try to schedule an appointment for your inspector to go in? would you need to somehow make a contract for him to sign? perhaps that would be part of the script?