How to Find Investment Properties

28 Aug

How to Find Investment Properties

Although the rise in foreclosures and distressed properties has had negative repercussions over the past several years, for real estate investors, there has been a silver lining because it has resulted in an increase in the inventory of investment properties in the market.

If you are a real estate investor wanting to capitalize on this current market trend, first and foremost it is important to establish connections with many real estate agents. Seek out real estate agents who specialize in foreclosures because they will be a great resource for you when scouting out available properties. Don’t just work with a couple of agents – make a list of local REO, or Real Estate Owned, agents, and proactively establish a good professional relationship with them, so they know you are a serious potential buyer for their properties.

Promoting yourself to your general network is also important. There are a lot of families who experience money problems that might be considering selling their homes. When people know that you invest in properties, they will be likely to talk to you about selling their properties before they foreclose, which means that you will be able to snag up deals that other investors don’t even know about.

Work with asset managers. They often have information on potential properties before they reach the MLS. By having the “inside scoop”, you can find great deals with limited competition from the general real estate community because you can purchase properties before they are even made public.

Reach out to For Sale by Owner sellers. This usually opens up a huge area of opportunity because when sellers do not formally list their homes with a real estate agent, they don’t get as much activity. If a homeowner is unsuccessful at selling their house on their own, they usually start lowering the price to try to make their property more attractive to buyers. If they become more open to negotiations than they initially were, and if you have been in regular contact with them, they will naturally think of you as someone to contact first, which can open up opportunities for you to receive great deals on properties that other investors don’t know about, since they aren’t listed on the MLS.

Regularly check advertisements and respond quickly when properties come up for sale. Check the local newspaper and other publications for motivated sellers that are advertising their homes. Craiglist even has real estate listings. By doing this regularly, you will be able to stay on top of the currently inventory and be prepared to act on new properties as soon as they go up for sale.

Jennifer Fields
Oklahoma City & Edmond Real Estate Agent
405.330.0031

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