Posted on: 1 November 2021Share
Real estate provides some pretty great potential for investing, whether it is in a fix and flip or a rental property that you get a continual cash flow to pay for its expenses. However, you need to know where to look and how to find some good investment opportunities. Here are some recommendations to help you find the right leads for your real estate investing.
Contact a Home FSBO Seller
As you are looking for a property to buy as an investment, you don't want to discount all the homes that are currently listed for sale without a real estate agent. These FSBO (for sale by owner) properties provide you with a great opportunity to contact the seller and start negotiations that you can complete through a direct channel. Because they are not working with a real estate agent, you can provide them with numbers in the market that they may not have access to in order to help them evaluate their home's true value.
Many FSBO properties will sit on the market without interest because of their lack of marketing, so you can assist them in selling their home with a competitive offer price. Keep in mind that with an FSBO property, you can also offer to take over their financing payments as you improve their property and put it up for rent or resell it later.
Look at County Auction Properties
Another method to find an investment property is to look into your local county courthouse auctions. Homes that are past due in property taxes and are being sold at a tax sale and homes that are being foreclosed on will also be sold at auction and usually at a lower price. Be sure you check into the county's website for listings of property sales that are upcoming so you can evaluate them further.
Check the property title before the auction to make sure there are not any other liens against the property and complete a market analysis on its value. You usually won't be able to inspect the inside of a property before the sale, so be sure you don't overspend on the property to save room for any potential expenses or repairs that it will need before you can rent it out or resell it. Find out when the auction takes place, how you register to bid on properties, and when you need to pay a deposit for the property.
Contact a business that provides home selling leads for real estate investors for more information.