For those of you who make a living investing in real estate property, finding more properties to invest in is going to be vital to your success. However, you need to take some time to research and dig around to find deals and not just any property you can get your hands on. But, when you’re always looking in the newspaper or even the internet these days, is there anything else you can do to help you find those great deals that are just too hard to pass up? Here are 10 hot ways that you can incorporate into your current strategies to get you ahead.
Homes for Sale by Owner
When you buy a home that’s still not paid off, you are left having to deal with the bank as opposed to dealing with the homeowner. You want to make sure you are dealing with the homeowner so try to buy homes that are for sale by the actual owner and not the bank. Many times owners aren’t going to keep running their ad in newspapers or even with realtors so take a drive around your neighborhood or the area you plan to buy in.
Consider creating your own ad to put in the newspaper or other online classified sites. State that you are looking for investment properties and what you are exactly looking for. This may or may not get you some potential business, especially from owners who are desperate to sell their home.
Get Some Help
If you simply don’t have time to look for a home yourself, consider hiring someone to find homes for you. Make a list of the must-haves in a home and send someone on a hunt to find what meets your needs and wants. This allows you the time needed to focus on other aspects of your investing business or to work on other homes in regards to fixing them up.
Look for Abandoned Homes
There are many people that can no longer make payments on their home so they up and leave it behind. There are several abandoned homes especially in today’s economy. What a great way to get yourself a great bargain! Owners might want to sell and to just get the property off of their hands.
Utilize the Internet
These days it seems that everyone is using the internet to their advantage. There are many real estate sites where you can find homes that you want to invest in by number of rooms and you can also narrow it down to price range. You’ll be surprised at the deals you can get your hands on!
Get the word out to friends and family that you’re looking to get your hands on some investment property. If you have certain areas you want property in, let others know and consider talking to realtors in the area too. They can help give you a heads up before a property is shown which will allow you to call dibs on it.
Talk to Contractors
Plumbers and other contractors might be able to give you a heads up if there are homes in the area that are going to be going up for sale by the owner. This is especially true if the owner is making upgrades to the home. If you find a home that has a lot of upgrades, you’ve potentially got the opportunity to get your hands on a nice property that can bring you in a pretty penny.
Look at Homes for Rent
If you are in the neighborhood and see homes for rent, or if you see ads online and in print, consider calling the landlord and proposing to take the property off of their hand. If a property has not rented in a few weeks or even months, a landlord may just be up for selling their property which means one less stressful thing for them.
Look for Eviction Notices
If there are rental properties in your area that have tenants that were just evicted, you might be able to talk to the landlord to sell the property to you. This takes the worry out of their hands and can give you a great income avenue if the property is in good enough shape.
Talk to Your Local Bank
If you talk to your local bank, they may be able to give you a list of properties in the area that are in foreclosure and this is going to give you the option to buy it before the real estate agents get their hands on it.