If you’re looking to buy property, the internet has made it more accessible.
You can find great real estate deals online and look for off-market offers.
This post is perfect for finding great real estate deals before hitting the market.
Here, you’ll learn how to outsmart your competitors and spend less time negotiating without relying on the MLS.
This is particularly great for those who want to invest in real estate diligently.
How To Find Great Real Estate Deals
Physically Scouring Your Area
Hop onto your bike or into your car and take a drive.
Keep an eye out for any vacant properties, and jot down the address when you spot something of interest.
Spend a few hours exploring the area and see if you can compile a list of properties.
When you get home, look up the address to find out who owns it and send them a message.
Networking
Relationships are essential for business success.
Savvy investors often find off-market real estate deals by networking with those in the know.
To get the best results, build a solid inner circle of contacts.
Start by networking with other real estate investors, even though they may be competition.
Mortgage brokers often know about homes before they hit the market.
Sellers may call them to see if they qualify for a new home.
Attorneys are also aware of properties about to be sold due to foreclosures, divorces, etc.
Local plumbers, contractors, and carpenters can tell when a house is being prepped for sale.
They may be your best resources.
Other investors may even help you find a project that would otherwise be out of reach.
You may even be offered to join a joint venture and participate in more significant investments.
With the right contacts, deals could come to you.
Researching Eviction Records
Have you ever experienced having to evict a tenant? It’s not a pleasant experience.
As a landlord, it can remind you how much you dislike real estate investing.
Why not use this time to contact a nearby landlord and ask about buying their property?
To do this, visit your county courthouse and determine who handles eviction records.
Collect a list of everyone who is evicted each week.
Craigslist
Many sellers are looking to avoid paying real estate commissions or doing the typical home staging.
They want to sell their property quickly.
These individuals post their properties on websites like Craigslist.
You can find the best deals in the US by searching for those eager to sell.
Check out the listings on Craigslist in your area to find great deals with low costs and low commitment.
Get The Word Out
Let people know where you network with other real estate buyers and what you’re looking for.
Spread the word through social clubs and groups, or even put a sign in your yard that says, “I purchase properties.”
You could also rent a billboard or get a magnetic sticker for your car that says, “I buy houses.”
If you have a good voice, try contacting a local radio station to do a commercial about your property purchasing.
Auctions
Can you get a good deal at a real estate auction?
It’s not for everyone, but if you research and know what you’re doing, you could get a great bargain.
You’ll likely get a big discount and less competition from other buyers.
The downside is that the buyers are usually more experienced, which can be more difficult.
Plus, you’ll have to handle extra paperwork and red tape, and you won’t be able to get a home inspection or see the inside of the house.
Related Reading: Apps That Pay You To Walk – Find Out Here
Blog About It
People will likely come to your blog or content marketing site if you offer helpful information to your local community.
For instance, why not start a blog about all the fun activities in your area?
People visiting this page will learn more about your business.
To get better results, ensure your website is optimized for search engines.
This will make it easier to navigate and let Google know what you’re selling – property.
When people search how to sell their houses, your website will be at the top of the list.
People often use Google to find answers.
Did you know you can appear at the top of the search results without paying?
Yes, you can! But it will cost you a bit. It might be a bit more or a bit less.
Nevertheless, you will be at the top of the search results, leading people to your website.
Commercial Broker
If you’re searching for commercial real estate, it’s wise to find a broker familiar with the area.
These brokers usually differ from those specializing in residential properties, but they can significantly help.
Getting a Tax Lien
Investing in tax liens is a great way to find great deals.
It involves purchasing a lien on a property where the owner has not paid their taxes.
This gives you the right to buy the property at a discounted price.
Many investors rely on this method to find suitable investments.
Probate Property Opportunities
Having a lawyer can help determine which properties are soon on the market.
You don’t need to be a lawyer to locate probate properties for your real estate deals.
A court-appointed representative sells these properties as part of a will or to pay off debts, and they can be cheaper than regular properties.
You can ask the court for records from the last six months to find them.
This will show all open probate cases, and you can contact the executor or lawyer in charge of the property.
This way, you’ll be the first person they talk to.
An executor may be willing to sell the property to you to save money or avoid bankruptcy.
Wholesaler Deals
Local wholesalers are great for finding off-market investment homes.
They are real estate investors who promote to potential sellers, then sell the contract to a buyer for more money.
They are familiar with repair expenses and the ARV (after-repair value), thus offer low purchase prices.
Network at real estate associations or search online for wholesalers.
You can also call the number on the “we buy houses” signs.
Do your research, as not all wholesalers are the same.
Please don’t rely solely on their projections and estimates.
The Advantages Of Buying Off-market Homes
Off-market transactions give buyers an edge since they won’t have to compete with hundreds of other purchasers.
Usually, investors only compete with two or three others, avoiding bidding wars or missing out.
Prices are lower since these properties aren’t advertised and are hidden from view.
This allows investors to get great deals before they’re advertised.
Negotiations are calmer since most people are unaware of these properties, allowing for contracts that wouldn’t be available on the open market.
Be prepared for the worst and know what terms you want.
Sellers usually aren’t in a hurry, giving buyers time to conduct due diligence before making an offer.
Some transactions, like pre-foreclosures and short sales, may require a faster closing.
Still, a more significant reduction in the purchase price usually compensates for this.
The Risks Of Buying Off-market Homes
Be careful when networking and discussing your plans.
Make sure you’re targeting the right demographic when marketing.
Start with a small, specific audience.
A wide net isn’t always the best approach when looking for motivated sellers.
You’re trying to persuade people who already want to sell.
If you’re looking at foreclosure, do your due diligence.
Check for liens and claims, and make sure no one is living there.
Don’t let a lack of research cause you problems down the line.
Related Reading: How to Make Money in Real Estate – Learn More Here.
Final Thoughts
Searching for great property deals?
Get out and learn what’s happening in the market near you.
There’s plenty of online info to help.
Off-market sales can bring advantages to investors who know what they’re doing.
Less competition and more flexible agreements can mean large profit margins.
Do your research and find the perfect property with the best deal.
Best of luck!
