As you know, what I’m interested in buying are the cheap Cash Flow Real Estate Investing deals that nobody else knows about. The reason for this is because, by going after these “off-market” deals, I don’t have to battle with all the crazy people that are buying from sources that are publicly advertised.
Publicly advertised properties have increased competition – which equals higher prices. Off-market properties have less competition – which equals more competitive prices. It’s really as simple as that when looking for cheap Real Estate deals.
In the vast majority of cases, the perfect cheap Real Estate deals are off-market, and that’s exactly where I buy.
Now. The glaring question becomes – “How do I find houses that nobody else knows about, if nobody knows about them?” Let me provide you some of the more common methods that can be implemented in order to track down a steady supply of these elusive “off-market” cheap Real Estate deals…
-Attorneys: Real Estate Attorneys know lot’s of people who have bargain houses for sale.
-Bandit signs: Those little signs on the side of the road that say “We Buy Houses”.
-Vacant houses: Track down who owns houses that show obvious signs of abandonment.
-Car Repos: If they lost the car, the house probably isn’t too far behind.
-Charitable groups: Sometimes these groups receive “gifts” of Real Estate as a donation.
-Inspectors: These guys know loads of houses that are in need of major rehab work.
-Condemned houses: Many counties will provide you with a free list. Just ask.
-Courts: Do some digging and find lists of Probates, Divorce Cases, Tax Liens, & Code Violations.
-Direct Mail: Send targeted mail pieces to lists of “motivated” sellers to find cheap Real Estate deals.
-Door Hangers: Leave on houses in your farm area. Interested sellers will call you back.
-Estate Sales: Often the Real Estate will be for sale as well as the personal belongings.
-Expired Listings: Get connected with an investor-friendly Realtor for these.
-Flyers: Print and post at Wal-Mart, Gas Stations, Grocery Stores, etc.
-Friends: Most people know at least 2 others who are looking to sell their home this year.
-Garage Sales: They may be selling off stuff to make their move easier.
-Judgements: Check the county’s public records for these.
-Lenders: Private Lenders, Small Lenders, Hard Money Lenders, Etc.
-Liened Properties: Mechanics liens, HOA Liens, Tax Liens, Etc
-Lis Pendens: Notice of a law suit. Usually a foreclosure.
-Networking: Get to know absolutely everyone in your area who is involved in Real Estate.
-Newspaper Carriers: These guys know where the “Ugly” houses are for sure.
-Postman: Same as Newspaper carriers. They could find houses for you that are vacant.
-Section 8 Landlords: Each county maintains a list of these. Get your hands on a list.
-Withdrawn Listings: Easy to get from a friendly Real Estate Agent
So there you have it. Quite a few excellent ways to get your hands on some of these mysterious “off-market” deals that I’m after. This is also, not by any means, a comprehensive list. There are so many ways to find the cheap Real Estate deals try to check out our website www.CashFlowFL.com. It’s really just a matter of giving some of these methods a try in order to see what works best for you.