Where do you find your investment properties?

Question

Where do you find your investment properties? I've been listening to podcasts and reading forums and articles and I keep finding conflicting information. Some say not to use the MLS, but others claim that's where they find all their deals. I've also heard about wholesalers for long distance investing. Is it truly a case-by-case situation? My husband and I are looking to buy our first property this year. Thanks you!

Sean Lunny · Answer

Hey Rachel,

The answer is -EVERYWHERE. Use the MLS, use wholesalers, invest out of state. What I mean by this is, you can find deals anywhere. There are pros and cons to each way which is why you find conflicting information.

I would start by connecting with someone in the area you're looking to invest whether that be in state or out of state. Whom you contact would really be dependent on you and your husbands goals. What strategy do you intent to use? Buy and Hold? Fix and Flip? BRRRR?

Rachel Dickinson · Answer

Thank you, @Sean Lunny! I appreciate the insight. We'd love to invest out-of-state (either Indianapolis or Grand Rapids) and are interested in BRRRR.

Paul Choi · Answer

Like others have said - everywhere.  Got to keep all deal sources funnels open - MLS, brokers, agents, property managers, friends, family, wholesellers.  I would advise against trying to go with 1 source since that will narrow your deal flow considerably.  The key is to network as much as possible so that you are put in their radar as buyers.

Kenneth Garrett · Answer

@Rachel Dickinson

All of those resources are valid to find properties.  MLS, wholesalers, direct from banks, off market, probate, divorce, etc.  Those are all valid.  The MLS a few years ago was a great source, but today it is much more difficult.  Tons of competition but you can find deals.  Networking and finding off market deals are available, you need to let people know what you are doing.  I have contacted and bought properties direct from the small local banks.  Try and make contacts.  Driving and looking for distressed properties is another method.

Keep looking and something will land.

Where do you find your investment properties?

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