Have you been using the 21 simple and FREE online methods to find great real estate investments I told you about last week? You should be!
If you have access to the internet, there’s no reason why you shouldn’t be browsing those sites daily and making offers.
Next to funding (which is our most common question), how to find good real estate investments is one of the top questions I get asked on a regular basis. If you live in a highly competitive market, it’s even more important to know about these next methods I’m going to tell you and utilize them frequently. There are free, so you have no excuses.
When I’m meeting with my Maverick Mastermind coaching group, we like to discuss new ways we found investment properties. At our last live event in Boca Raton, Florida, we came up with 11 Free Offline Strategies to find Great Real Estate Investments.
Make sure to listen to the recording so you can hear real-life case studies of how my team and I using these strategies in our business.
- Buyers Agents – They can effectively find you properties that fit your criteria and it is as no cost for you because they are paid on commission by the seller. I personally have three buyer’s agents that are constantly looking for properties for me that look good and have potential.
- Short Sale Investors & Agents – They focus on short sales and pre-foreclosures. Usually in these cases, the home is listed and an offer is made, but it takes 3-4 months for the potential buyer to hear back from the short sale lender and they walk away. This happens multiple times until the asking price is heavily reduced – the sweet spot is properties that have been listed for at least 180 days because the agent and seller are motivated to unload it.
- 365 Days on the Market - Search all properties that have been on the market for a year or more and bid 50% of the asking price, subject to a walk-through of the home.
- Expired Listings - Have a buyer’s agent pull all the listings on the MLS that are recently expired. You can make an offer on every property that has an expired listing and offer all-cash or knock on the door of the seller and let them know you are interested in buying their property, will make an all-cash offer and can close in a week.
- Referrals - These can come from family, friends, business associates or your social network. I have done over 25+ real estate deals with family or friends that have referred me to others. You can use things like a bi-monthly newsletter, e-mail marketing or direct mail pieces to keep you in the back of their minds and have the conversation remain open.
- Real Estate Investor Associations (REIA) - Associations that you pay a small membership to be in that are informal gatherings of real estate investors and vendors. Meetings should held once a week or once a month at a local hotel, rec center or library. These are a great place to meet other investors, agents, wholesalers, closing attorneys, inspectors, contractors, etc. Just google “real estate investors association in (insert city here)” and look under your city.
- Attorneys - Probate, General Practice, Real Estate and Divorce attorneys all have clients who are going through divorces, bankruptcy, etc. They know of properties that are off the market with little to no competition.
- Mortgage Brokers & Bankers - They are in real estate full time as lenders and regularly get leads from sellers who are looking to refinance, but can’t because they have bad credit. Brokers can make a marketing fee for introducing you to their lead, so it’s a win for everyone!
- Land Bank - Communities like Cleveland, OH or other rust belt cities or cities with blight, have properties that are abandoned. Some counties set up a land bank which takes over these abandoned properties and sells them to investors for a very low cost.
- Code Violations - Each city has a building department that keeps a running list of buildings with code violations. The list should be public record, so you can call your city building department and see if they will share it with you. These properties could have anything from simple code violations to major ones, like fire damage.
- Sellers/Past Clients - Once a deal closes, the seller’s opinion of you will never be higher. Make sure to ask them to keep you in mind for referrals or introductions in the future.
You need to prospect alot of properties in order to purchase and close on a few, so using these methods is very important. You need to build your network so eventually, instead of using your time to find the deals, the deals come to YOU. Normally that comes along with funding. Those investors who have funding ALWAYS ALWAYS get the best deals.
Need new ways to get funding even if you have bad credit and no down payment? Learn more about Freedom Funding.
At this point in my career, I literally have great properties knocking on my door between family, friends, my buyer’s agents and referrals. That can be the same situation for you if you start networking your business now.
Are you ready to go after the lifestyle you’ve been wanting? I set my students up for success so they can quit their jobs and flips houses full time. Take a look at this walk through of a house we flipped this past winter on School Dr. It was a Fannie Mae foreclosure that we purchased for $55,000 and we renovated the ENTIRE house. We even did some reconfiguring so it’s easier to entertain. We put around $30,000 in the home for the rehab and it’s currently listed for $134,900.
Our School Dr. home should profit us around $38,000 when it sells this week – that is equal to some American’s total yearly salary. I’m not saying that to rub it in your face, I’m saying it to put it into perspective. Why not work part time and enjoy the good life instead of slaving all year for the same money. My coaching programs set you up for success.
When I say that you’ll walk away with a $40k check from your first flip, I’m not lying. It’s happened for many members of ours. Way more than I can count on all our collective hands and free. The dollar amount might slightly differ, but you will reap the benefits of my coaching in no time.
Check out this testimonial from one of my students, Tom Freeman. He knows first-hand that we don’t hold any of our secrets back. I WANT you to succeed in real estate investing.
Will you be my next successful student?
CEO Strategic Real Estate Coach
CEO Freeland Ventures and Freeland Lending
CEO Yellow Jacket Properties
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