Photo by Michael Guida, CC0 1.0
If you’re an investor who’s looking for a great deal on real estate, then it’s not just going to fall into your lap. Many people think that it’s easy to find deals on properties, but that couldn’t be further from the truth. When you’re a real estate investor, you’ve got to work hard to find that great property that you want to invest in. However, what is the best ways to do that? Down below, we’re going to take you through the top tips you need to know to find the best deals. Which ones have you tried already?
1.Knocking on All Doors
The first tip that we have to offer you is one that you’ve probably heard time and time again. Knocking on doors is still one of the best ways to find great properties to invest in. However, a lot of real estate investors just don’t know what to say whenever they start knocking. Just inquire with the homeowners about whether or not they fixed the pending problem with their property and if not, you can step in to help out. This is a great way to find properties that you can invest in.
2. Try Out Postcards
Many investors mail postcards to those property owners who are in foreclosure. However, there are so many more people that you could be reaching out to. How about those people in probate? Or those people who are going through a divorce? Or even those people in bankruptcy? This information is going to be public knowledge and is something that you should look into if you want to go above and beyond what normal investors do. This is going to lead you to some seriously great deals that will be great for your investment portfolio.
3. Mailing Lists Are Great Too
You could even try out mailing lists. This is something that the non-typical investor is going to do – buying mailing lists and farming through a neighbourhood. You can buy these lists by the zip code and then mail directly to the places you’re looking to invest in. This targeted method is going to be much more effective than trying to look through a broad area one by one. Whether you’re looking at real estate Cannes or another area of the world, you’ve got to try this method.
4. Phone Calls Are a Good Choice
If you’re like many investors, then you don’t spend a lot of time doing phone calls to those properties going through foreclosures. You can easily go through a directory and find the right people to call to find a good deal on properties. If you haven’t tried this method yet, what do you have to lose?
5. Running Ads in The Newspaper Can Work
Most investors think that running ads in local newspapers is too expensive and not worth the effort. When thinking about this, think about how many deals you would have to make in order to pay for a whole year’s worth of ads in a newspaper. If you’re like many investors, then it’s only going to take one or two deals for that. In that sense, it’s not going to cost you too much money for a lot of payouts.
A tip for doing this is to place your ads under “money to lend”. A lot of the times, homeowners don’t want to sell their house, but instead, want to save it. If you get them on the phone, you can negotiate through the waters and make your way to a great deal.
When you’re trying to get a good deal on real estate, then it’s best to try out the above tips before heading out there. You’re going to see a lot more success when you try these tips than if you go with your traditional ways of seeking deals.
Have you ever wanted to find out what it takes to become a real estate investor? Well, Nick at DIG has the perfect guide for you. Check it out!