One of the concerns that I hear from a lot of investors are that there are no great deals that hit the MLS. Here are a few ways that you can try and see if you can catch a great deal.
Visit For Sale By Owners. Sometimes you will find that FSBOs will take lower offers because they aren’t paying Realtors commission. They also don’t have the confidence that they priced their home well in the first place.
Farm An Area. Try door to door. Look for homes that need work, updating, or where yards haven’t been kept up. Stop by and see if you can help solve a problem. I know of a guy that was looking to sell his home simply because he didn’t have the money to re-shingle his house. Sometimes you are able to help solve their problems by purchasing their home from them.
Word of mouth. Keep a database of people that you know. Regularly reach out to these people and let them know that you are looking for deals. With technology today, investors are getting lazy and relying on social media but you absolutely must pick up the phone or meet with people face to face. I recently had an investor tell me that he had numerous people looking for money for deals but he wanted to invest with me because he knew me and trusted me. It’s really hard to build trust in the same way thru things like Facebook.
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