Looking to do some investment in real estate properties? Need to find a discounted and undervalued property? Well, in this extremely competitive market, you need to quickly find the deals for the right properties before your competitors do. As an investor, you wouldn’t want to pay for any property at full price and then try to fix it and/or flip it to make a profit. That’s crazy!
Let’s try a different approach to finding better real estate investment deals! Try these:
Join a local investment club, particularly in real estate. This will serve as your network of investors. Networking is one way to find discounted and affordable fixer-uppers. Investors often have so many investments going on at once that they can’t always take on every opportunity, but at the same time they wouldn’t want the opportunity to go to waste. Therefore, if they know that you are looking for properties, they would more than likely contact you (or people in their network) with the deal rather than someone outside of their network.
Hire someone to do the grunt work for you. Pay someone to go through property listings and identify properties that can be fixer-uppers. Of course, since you aren’t doing the work yourself, you have to be sure to be specific about what you are looking for (i.e. price range, location, value). Otherwise, you’ll get useless information. Paying someone is a bit of an investment in itself, but at least it frees you up to do the more important stuff, like closing deals!
Another option would be to do the property searching by yourself. Look through the classified ads, FSBO websites and newspapers. This will take time on your end, but you’ll at least get the results you know you’re looking for rather than depending on someone else to find the right investment property for you. Over time, as you become more familiar with where to look, the process will go much smoother and quicker.
The real estate industry is very competitive and very large. Thus, a network of investor friends will come in handy in keeping you on top of what’s going on in the industry as well as the great deals that may suit your needs and pocket. Besides, it’s much easier to have a team working on your fixer-upper and flipping projects than it is for you to do everything alone.
