Finding good deals is crucial to successful investing. The best real estate deals are found when the seller is motivated, you can solve a problem and there is no competition. Here are 3 non conventional ways to find some of the best deals.
- Target pending sales and be the backup offer – Properties listed on the MLS often receive a lot of competition and often the seller is not motivated. What about when a property falls out of escrow? Sellers often become motivated and you can solve their problem without any competition. Put in backup offers on pending sales and you just might find a home run deal.
- Put in your offers with only the listing agent – Listing agents love double sided commissions, especially the ones that list a great deal of REOs. They will work hard to represent you and the seller. It could result in a win-win for all which means a great deal for you.
- Target rentals and out of state owners – Approaching rentals to see if they will sell can often lead to a great deal with no competition and possible great terms. You may be able to negotiate a lease option, get seller financing or subject to. Also contact title and get a list of out of state or absentee owners and send them direct mail. You can often find a motivated seller, solve their problem and without competition.
While most do what everyone else does to find deals, there could be some hidden gems found with non conventional strategies. I hope these 3 are helpful as they could find you a motivated seller with no competition and you can solve their problem.