3 Non-Conventional Ways to Find Real Estate Deals

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. 

1. 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.
2. 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.
3. 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.

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.