By: Tony Delisi at RE/MAX Unlimited Northwest
When you decide to flip homes or rent them, the first step is to find properties you have a good chance t buying below market value. I suggest you practice this even if you are not ready to begin real estate investment immediately. Here are 4 great ways to find good possible homes for real estate investment.
1) Work With A Knowledgable Realtor (Like Me) To Help With Real Estate Investment
You need to work with a Realtor who knows how to search MRED (Multiple Listing Service) and Tax databases to find real estate investment homes that are possibilities. It could be vacant homes, people behind in taxes, inherited homes, short sales, pre-foreclosure homes, bank owned homes and many more possibilities. Ask me and I can help you find good investment properties.
2) Drive For Dollars
The simplest and lowest tech thing you can do to find great real estate investment properties is drive around neighborhoods you want to work in and look for vacant homes, homes with unkempt landscaping and other signs that the home owner is short of money. You can strike up a conversation and ask if they would consider selling. If you find any I recommend you use me to represent you as I can save you from errors and help negotiate a great deal. I am paid by the seller, not you so why not have great representation?
3) Bird Dogs
You can reach even more homes by teaching a few people to be your bird dogs and offering them a bonus every time you buy a home that they turned you on to. Who is great at this? People who drive. It could be UPS or Fedex drivers, police or firemen, furniture delivery people etc. You get the idea. They keep their eyes open and report to you. IT’s a win win situation.
4) Advertise “I Buy Homes For Cash”
Tell people that you invest in real estate. It can be simple like a hat or T-shirt that says “I buy homes for cash”. Or, you could have a page on Facebook. You can advertise on Google with Adwords and do more to find goo real estate investment properties. I would suggest you get business cards printed that say “I buy homes for cash” and have them ready to give out when you meet a likely person.