Are you getting tired of looking through the weekly property listings trying to find an investment property? I know a lot of people that want to get started investing in real estate, but they keep looking in the wrong places for undervalued properties and eventually give up thinking that there are no good deals to be had. Well this just isn’t the case, but because there is so much competition in a lot of areas, you have to be quick and know exactly where to look to find the best deals. Well to help you find the good investment property and discount fixer uppers, here is a list of some of the best and most unnoticed places to look.
The first way to look for investment property is to actually drive around in the areas that you want to find a house. Many people are too lazy to do this and miss out on a lot of great deals because of it. When I first started my real estate investing career, I didn’t have a lot of money to start paying people to bird dog for me, so I just started driving around neighborhoods. Eventually, I figured out which places I should keep driving through and which I should not. There are certain areas where you will always find investment property at a good price and then there are others where you will rarely find undervalued properties. The key is to know which places to spend your effort digging so that you will spend your time most effectively.
Another great way to find fixer upper homes and wholesale properties is by visiting the local auctions and Sheriff Sales. Often these are held at odd times of the day or morning and most people don’t make the effort to consistently check them out. Well this is a mistake because there is often little competition at these and you only need a small deposit to secure a discount property. Why waste time digging through the same listings that everyone else does when you can make one stop a week and get all the properties you need? This can save you tremendous amounts of time and effort, which means you can spend more time making money and less time finding ways to spend it.
The last way to find great deals on fixer uppers is by placing advertisements in the paper to get people to call you with their listings. Rather than browse through the weekly listings and hope you will find a deal (chances are that you won’t), place an add in the newspaper that says you are looking to buy discount properties. Motivated homeowners will be calling you all day and night trying to get you to buy their home. Although you will have to qualify these leads, you will have much more success and bang for the buck doing this than trying to read through the MSL websites or looking in the real estate magazines. If you can afford it, this is by far the best way to find deals.
Making money by investing in real estate is not difficult, you just need to know how to best spend your time. As a one man operation, you don’t have a lot of time to spend in each part of the real estate game, so it is important to use your time wisely. Use these strategies to get off the bench and actually start buying and selling investment property.
For more information about Discounted Properties and Fixer Upper Homes please visit: DiscountedProperties.com. We also offer information on how to get Hard Money Loans for Real Estate Investors.
[tags]Real Estate Investment Property, Investment Property, Fixer Uppers, Wholesale Properties, FSBO[/tags]
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