09 Mar 2008 12:09:39 | Steve Gillman
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.
About Author :
Steve Gillman has invested real estate for years. To learn
more, and to see a photo of a beautiful house he and his wife
bought for $17,500, visit http://www.HousesU
nderFiftyThousand.com