As a real estate investor you will be always looking for that perfect bargain that will help you make the most profit from it that you can.
It will take you some time and practice to efficiently locate deals and bargains in the real estate market.
Here are some tips on how to find deals in real estate investing.
Find a Seller that is Motivated When you find a motivated seller you will find someone that is willing to lower the overall cost of the property they need to sell.
These people will need to and want to sell their property quickly, rather than making a huge profit from it.
You will find that people put in certain situations (divorce, unconcerned, inexperienced, not enough time, death in the family, job transfer, landlord problems, financial problems) will want to simply sell the property and get it over with as soon as possible.
These are the properties you will want to find so you can get a great deal on a property and make a big profit.
Focus on One Area It is a good idea to choose a few specific locations close to where you live to constantly drive around the area during your spare time, such as during the weekends.
Choose these areas to focus all of your marketing towards.
You will need to learn all that you can about these areas, such as the homes and average prices of homes, as well as the type of style of homes.
Go to Open Houses Oftentimes, those selling their homes on their own (without an agent) will have an open house to gain attention to their home for sale.
Always go to these open houses so you can speak directly with the owner.
Take along your business cards and give one to everyone there.
You will get some good experience by going to open houses because you will learn the style of the homes for sale and what the going prices are.
You may also get good contacts with your business cards.
Search for the Ugly Yes, look for the ugly homes that are vacant.
Most likely no one wants to purchase the property because it is ugly.
If you find a vacant property go to the closest homes and ask if they know who the owner of the property is and how to contact him or her.
This ugly, vacant house brings down the value of their homes so they should be more than happy to help you.
Another person that will know all of the vacant properties in the area is the mail delivery person.
They drive or walk through these areas every day.
Ask him or her for a moment of their time and write down all of the locations they can give you.
It is very important that you stay persistent in finding the owner of these vacant homes.
You can also find the owner's name and information by contacting your local city hall, the tax assessor's office, or through the county land records.
Some properties will even be tagged with a code violation on a neglected property.
You can get a list of these properties through your city hall.