Canadian Real Estate

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Finding off market deals

Posted Jan 25 2022, 17:08

Hi!

Im new to real estate investing, currently trying to learn as much as I can. What i have heard is that off market real estate is the best way to find properties. Does anybody have any good recommendations of where to find off market deals? who to contact to find them?

Thanks for the help!

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Chris Baxter#1 Canadian Real Estate Contributor
  • Rental Property Investor
  • Port Coquitlam, BC
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Chris Baxter#1 Canadian Real Estate Contributor
  • Rental Property Investor
  • Port Coquitlam, BC
Replied Jan 25 2022, 17:26

@Mack Giles welcome to BP.  Off-market deals come from either 1) your effort (reaching out to property owners that haven't listed but could be tempted to sell) 2) your relationships (with PMs, realtors, mortgage brokers).  Bother require effort... you can't pick up the phone and ask a realtor to send you 'pocket listings'.  Pick a market, go there, meet people, build relationships, demonstrate an ability to close and be explicit in what you are looking for. Good luck!

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Sam Hanaa
  • Rental Property Investor
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Sam Hanaa
  • Rental Property Investor
Replied Jan 25 2022, 18:01

I wounder why in such hot market someone will sell off market beside to save on agent fees , be careful from surprises 

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Chris Baxter#1 Canadian Real Estate Contributor
  • Rental Property Investor
  • Port Coquitlam, BC
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Chris Baxter#1 Canadian Real Estate Contributor
  • Rental Property Investor
  • Port Coquitlam, BC
Replied Jan 25 2022, 18:20
Originally posted by @Sam Hanaa:

I wounder why in such hot market someone will sell off market beside to save on agent fees , be careful from surprises 

Not all markets are hot, and not all sellers use realtors. With due diligence, there should be no surprises.  

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Joshua Janus
  • Realtor
  • Columbus OH & Cleveland, OH
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Joshua Janus
  • Realtor
  • Columbus OH & Cleveland, OH
Replied Jan 25 2022, 18:35

I would advise finding an investor friendly realtor. You really want someone that invests in their market themselves and understands the numbers. They should be able to determine the COC, annualized return, estimated ARV of a BRRRR, accurate rent comps and more. The valuation and market value of a multi family property differs from a single family and you want someone that understands the distinctions if you go that route. If they just represent first time single family home buyers and aren't constantly finding off market properties and reviewing deals, you'll find a better investment through someone else.