The real estate market is busier than ever, with investors flocking in, and wholesaling has made it easier for people to start investing in real estate without breaking the bank. But it’s not all sunshine and rainbows. To make it in this competitive arena, you need grit and determination. The good news is there are still plenty of deals out there waiting to be snagged. So, if you’re up for the challenge, you’re in the right place.
This guide will walk you through seven tried-and-true methods for finding these hidden properties and give you all the necessary information to get started.
1. Networking:
Start by attending local real estate investing meetups or events. Building relationships with other investors in your area can be highly beneficial. These connections may have insights into off-market properties or might even have properties they’re willing to sell.
2. Direct Mail Marketing:
This involves sending postcards or letters to property owners in specific areas or with particular property types, like fixer-uppers or probate properties. By reaching out directly, you can uncover potential off-market deals.
3. Digital Marketing:
Leverage online advertising, such as Facebook Ads, to target audiences interested in moving or property-related services. As per a popular report, this approach can help you reach potential sellers who aren’t actively listing their properties.
4. Real Estate Auctions:
Real estate auctions offer fantastic opportunities to grab off-market bargains at incredibly low prices. These auctions, whether in person or online, typically involve properties sold due to unpaid taxes. Depending on the auction’s location and rules, you might secure a property by only covering the overdue taxes. Remember that auctioned properties won’t appear on the MLS, so they’re genuinely off-market finds.
5. Drive-Bys:
This straightforward method involves physically driving through your target area and looking for vacant properties or needing maintenance. Often, these properties are owned by investors looking for a quick sale without listing on the market.
6. Word of Mouth:
Don’t underestimate the power of simply asking around. Talk to friends, family, co-workers, or anyone local to the area where you want to invest. Inquire if they know of anyone considering selling their property off-market. You’d be surprised how many opportunities can arise through word of mouth. In case you’ve found a property and require the best transactional funding for double closing a deal, DoubleClose.com can help you.
7. Public Records:
Get into public records to find off-market properties. Look for properties that have undergone foreclosure or have had liens filed against them. Additionally, consider properties owned by the government, as they may be available at a discounted rate, presenting a prime opportunity for investors like yourself.
The Bottom Line
Are you looking to snag a sweet deal on an investment property? Off-market properties could be your lucky break. They’re not in the spotlight so that you can negotiate a killer price better. Try the methods we’ve just laid out to uncover these hidden gems. But, sometimes, you need a bit of financial firepower to seal the deal. That’s where we come in. At DoubleClose.com, we’re all about quick and best transactional funding, especially for those double-closing situations. Our qualification process is a breeze, so you can hit the ground running toward your next real estate victory.