3 Ways to Find Deals
All real estate deals fall into one of three different categories when it comes to finding them. Lets go through the details of each:
1) Direct deals- these are deals in which you are working with a seller directly. These deals are the result of direct marketing, bandit signs, flyers, website inquiries, referrals from people you know, etc. where you are directly interacting with the seller. Hopefully you’re doing this because it's the best way to get deals—especially ones under market value. There is very little competition with these deals.
2) Multiple Listing Service (MLS)- MLS deals are open to the public through the Realtor database but also seen through multiple free online websites. Everyone can access MLS, but there are always deals. You have to constantly check MLS and usually you have to sort through hundreds of properties because not every deal on there is good.
3) Hybrid deals - Auction deals (online or offline auctions). I call them hybrid deals because they are public knowledge—everyone can go to an online or offline auction, but few people do because it takes a little more work and larger deposits.
There are deals everywhere. Good real estate investors are scouting all online databases and working direct sources to try to find under-market deals. Set up a strategy to help automate your marketing in order to review many, many deals...