How have you found your properties? Here is how I found mine.

How have you found your properties? Here is how I found mine.

Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes

How have your found your properties?  When I originally starting investing I remember hearing a guru say that had 31 ways to find deals.  I didn't want 31.  I wanted just one that I could do over and over again.  I turns out one doesn't cut it.

Some of these properties were flips, some buy and hold. 

1. Drive by.  The owner hand made sign out front and I stopped.  Inner city.

2. Bandit sign.  I know the Josh Dorkin and Brandon Turner are not fans of bandit signs--and I may discontinue using them--but I posted a bandit sign on a pole right outside a multi-use building and the owner called me.  Inner city.

3. Craigslist.  Owners listed a duplex on craiglist.  Inner city.

4. Craigslist.  Absentee owner, inherited, posted an ad on craigslist.  I suggested a price over email.  He didn't bite until about six months later when it hadn't sold.  Suburbs / Rural.

5. Realtor. REO house. B Area, city (better part of city, nice neighborhood). I discovered I didn't have the temperament for inner city.

6. Realtor. REO house. B area, small neighboring city.

7. Contractor.  My contractor had a job at this house and told me about it.  One of my best deals.  A/B Area, suburb.  (By A I mean low to medium middle class, nice neighborhood.)

8. Wholesaler. B Area, city.

9. Wholesaler.  A/B Area, suburb.

10. Realtor.  Short sale.  I somtimes send emails to the listing realtors telling them I am a cash buyer and if it wouldn't be a waste of time to make an offer in the X range, I'd like to see the house.  A/B Area, suburb.

11. Realtor.  I forget how I heard about it.  He may have had my contact from an email like that above.  It was inherited property.  B Area, suburb.

12. Realtor.  Same as above.  A/B Area, suburb.  I lost my shirt on this one due to big problems with the house.

13. Bandit sign.  Condo.  Relocating.  A Area, suburbs.

14. Yellow letter.  Short sale.  A/B Area, suburb.

15. Online marketing.  Inherited property.  A/B Area, suburb.

16. I don't remember.  Maybe craigslist or bandit sign.  Somehow I had contact and the seller called back a couple of times over a couple of years.

17. Wholesaler.  A/B Area, city.

18. Online marketing.  B Area, city.

19.  Online marketing.  B area, city.

20. Yellow letter.  Short sale.  B area, suburb.

21.  Yellow letter.  Short sale.  B area, suburb.

I still feel like a newbie (slow ramp up starting at the end of 2008) and am still trying to figure out my business model.

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Residential Real Estate Agent · Hattiesburg, MS · Member since 2011 · 475 posts · 141 votes
12y

As a RE Agent I comb the hot sheets multiple times a day looking at New listings, price reductions, back on market, etc.  I also look at closed, pending, and expired.... Do that for a couple years and you will literally know almost everything there is to know about your local market.  

I then do a separate search just on REO and estate properties.

Mostly REO properties, occasional estate, and occasional divorce situation.

I've picked a couple off of craigslist, so I make a point to scour it daily also.  

I really need to step up my game and try some yellow letter campaigns, and bandit signs. 

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  • Investor · New York, NY · Member since 2014 · 156 posts · 48 votes
    11y
  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    11y

    @Chris L.

    We have used bulletins to advertise things such as "I BUY HOUSES" and "FOR RENT"

    We have utilized church bulletins as well as colleges and local stores and restaurants that have bulletins.

    They result in a few leads here and there. The "FOR RENT" ones get the most leads.

  • Investor · New York, NY · Member since 2014 · 156 posts · 48 votes
    11y

    Good to know, thanks!

  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    11y

    We've never used church bulletins. We look for vacant land, and know what it is we are trying to find, therefore; it's easier for us to look in the areas with the topography, location, etc. we are interested in than casting a wide net. 

  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    11y

    I haven't seen many church bulletins that take ads, but it seems like it might be pretty effective.

  • Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
    11y

    @Chris L. No I haven't.  Interesting idea.  Some churches do have advertisements in their bulletins.  If you try it out let us know what luck you have.

  • Investor · Marietta, GA · Member since 2015 · 23 posts · 3 votes
    10y

    1.moved out of my personal residence
    2. MLS shortsale
    3.driving saw a FSBO
    4.Zillow
    5. wholesaler
    6.wholesaler
    7.wholesaler
    8.wholesaler

  • Investor · Middletown, NJ · Member since 2008 · 2k+ posts · 1k+ votes
    10y
    Originally posted by @Rolanda Eldridge:

    Found most all on MLS back in the good old days!!(2008-2012)..Times changing with lots of competition, so networking more effective today..

    Same here Rolanda! Short sales and REOs.

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