10 Ways To Find Investment Properties
Posted on December 3, 2008 in the Real Estate category
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If you really want the best deals in investment properties, you have to increase your odds by finding more deals. Who is more likely to get a cheap apartment building, an investor that looks through the MLS listings and calls it a day, or the one that uses ten resources? Here are the ten:
1. Talk. Let people know you are looking and sometimes the properties will come to you. There are a lot of owners out there who want to sell, but haven’t yet listed their property.
2. Use the internet. Go to a search engine and enter the type of real estate you are looking for, along with the city you want to invest in. You never know what you might find.
3. Drive around looking for “For Sale By Owner” signs. Owners often don’t want to pay to keep the ad in the paper every week, so you won’t see all properties there.
4. Find abandoned properties. That’s a pretty clear sign that the owner doesn’t want to deal with the property. He might sell cheap.
5. Find old “For Rent” ads. Call if they are a few weeks old. Landlords are often ready to sell, especially if the haven’t yet rented the units out.
6. Talk to bankers. You might get a foreclosed-on investment property cheaper if you buy it before they list it with a real estate agent.
7. Offer someone a finder’s fee. There are people that always seem to hear about the good deals. Have such people coming to you.
8. Eviction notices. If your local papers publish eviction notices, or if you can get the information at the courthouse, it can be useful. A landlord who just went through the procees of evicting tenants is a likely seller.
9. Old FSBO ads. If you call on two-month-old “For sale By Owner” ads, and they haven’t sold, they may be ready to deal. Owners often give up the effort, but still would love to sell. Help them out!
10. Put an ad in the paper. “Looking for investment properties to buy,” might be sufficient to generate a few calls.
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10 Responses to “10 Ways To Find Investment Properties”
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Thanks for this post, I think it would really help people looking to invest in these types of properties. Thanks for the cool guide, I may find it useful in the near future.
I think these are good tips. It may vary area by area; however, FSBO’s around here (Southern Oregon) are always priced far higher than listed properties. I account this to the seller’s are grasping onto hopes that their property is still worth what it was in 2005. When their spirit is eventually broken they go to an agent and the agent shares with them the facts of what property values are in 2008.
Every listing we’ve found that nets positive cash flow was a listed property. Most are foreclosures.
I’ll add to the list, if FSBOs are in a different direction in your area, try Craiglist too. It gets more FSBO ads than the local paper.
This is a terrific list, thanks.
To really put this list to good use, I would employ the Dan Kennedy Massive Action approach: do all 10 AT ONE TIME.
The concept is to take massive action by making a list of things to do (like this list) and start each of them all at once. You’d be surprised at how much ground you can gain with this method. If you were to do all the things on this list at one time, there is no way you wouldn’t find some great deals.
Great list! Here’s an addition to the list.
#11 – Visit your local courthouse to view local postings of foreclosures or houses that needed to be sold quickly.
The best way to find good investment properties is to know people who know the market and know where situations for good deals lie.
I think that now is a great time to find investment properties and in most cases you actually have cash flow coming in with the prices of homes so inexpensive.
Nice guide. Last 5 not very useful
Be very careful when investing in Real Estate. Its not as easy as they try to make it look in TV infomercials.
I did some investing myself for a year 1/2 and it was quite an experience to say the least
theres money to be made in Real Estate just don’t be greedy and use your head
Jack
Well researched tips for new buyers in tow. Practicality is the center of this well developed ideas. Keep writing more practical tips. Thanks for this information.
I think this is a nice post. Thanks for sharing this tips.This will be really helpful for people who is now having problem in finding real estate property.I think, the least tiring task there would be finding property through internet.Because all you have to do is to have a computer and an internet connection.Then after, that you can search on, whatever or whenever you want.Thanks again for this post!