What Are Your 2016 Real Estate Acquisition Strategies?
Hello,
The inventory of investment grade SFRs has completely dried up in my target markets on MLS (foreclosures and short sales). In order for me to successfully carry out my acquisition goals this year, it almost seems like I am going to have to take the "guerrilla" approach to finding deals.
To date I have yet to meet a wholesaler in my area that has been successful and the auction block has been yielding a little more than prune juice.
We are a little hesitant to spend money on marketing but from my research, here is what I found that may work:
- EDDM
- Bandit Signs
- Targeted Mailers
- Local Newspaper Ads
I was just curious, what has been working for you this year?
I am currently seeking SFRs in the Northwest Suburbs of Chicago mainly Kane County: St. Charles, Elgin, South Elgin.
Thanks in advance!
Most Popular Reply
You're right Greg, it's really getting hard to find a deal. Kane County is fairly competitive. I'm still seeing some foreclosures that are good deals, but there is stiff competition for them. Smart marketing dollars will bring you a good return. Targeted direct mail will probably net you your greatest return.
There seems to be a migration from these towns westward so try to find some properties in Campton Hills, Wasco, Burlington, Hampshire, Pingree Grove, and Sycamore. There's some good value there and far less competition.