Today I’ll be going over three easy ways you can locate an off-market real estate deal. Why is this important you may ask? It’s important because to become a successful real estate wholesaler or fix and flip investor – You will need to be able to locate houses and apartment buildings that Landlords, Realtors, and Retail Buyers desire but can’t find on the MLS, Trulia, Zillow, or the FSBO websites. Now, that I answered your question – let’s get down to business keep reading to discover the three ways that I use today to locate off-market real estate leads!
- Driven for dollars
- Bandit Signs
- Internet Ads
All of the above methods of locating off-market properties have helped me in my real estate investing career. Sure there are more methods that one can implement to generate off-market real estate leads such as newspaper ads and courthouse research. Still, I have discovered that the above methods are more cost-effective and productive.
Drive for dollars: This method requires that you drive through a neighborhood seeking out houses or apartment buildings that exhibit signs that they are in a distressed condition.
There are Six ways that you can tell if a property is in a distressed condition:
- The Mailbox will be running over with mail;
- The Grass will be overgrown;
- The property will have no window covers on the front window;
- The gas meter and the electric meter will be missing;
- A city violation sticker will be on the front door or front window;
- The front door will be open, and the house will look vacant.
Bandit Signs: This method of locating off-market real estate leads requires you to go out and put signs on street poles and busy intersections. It’s an excellent way to get your phone to ring; however, you must be sure not to violate your city’s ordinances so that you would not get fined for blighting a city with signs. In some towns putting signs on the streets or poles are against the law without a permit. This method will require a little work, but once signs get placed, you will be able to make contact with motivated sellers. Making contact with motivated sellers is what you want to do!
If you can convert your calls into appointments, you will be on your way to creating some excellent real estate deals.
Internet Ads: This method could be a useful tool if you have technical skills. It requires you to place ads on platforms such as craigslist, Facebook, and Google. Remember, Internet ads are a powerful tool that will generate lots of leads. Internet ads are an effective and cost-efficient way to locate off-market property leads. The only thing about this method is that it could get a little expensive as placing an ad on Facebook and Google will not be free. It should be noted that you can place a free ad on Craigslist.
Locating off-market real estate is a skill that successful real estate investors must learn to do if they want to create a profitable business. It can be a fascinating journey that requires you to work hard and research.
When you place Bandit Signs and Internet Ads and start driving for dollars, you will begin to see that it is possible to locate a great real estate deal consistently. I hope this information was valuable to you. Tell next time, happy Real Estate Investing.
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