Strategies for Finding Good Deals
Author: Terry Smith
Strategies for Finding Good Deals
Regardless of whether you are in real estate wholesales or buying real estate for long term profits or simply a casual investor, deal finding is crucial to success in the real estate industry.
Get Into the Core Group of Real Estate Wholesalers
Most Real estate wholesalers have investor lists. Many have a small core to which they divulge information of new deals. If you are serious about buying real estate and making profitable deals you need to be in their core group and among the first ones to call or shall we say, the only one. Be proactive and contact real estate wholesalers. Let them know that you do not squabble over every nickel and dime. Tell them that you have funds ready and interested in buying real estate as soon as they have a deal ready.
Multi Listing Service
Multi Listing Service or MLS provides real estate information of all properties listed for sale by brokers. All the information is laid out for the investor, which is a great time saver. However, the trick is to sift the good from the bad and ugly and identify motivated sellers. It is just a matter of few keystrokes to view all properties and their status. If you are new to real estate industry you could seek the help of an experienced dealer.
Contact Lenders
One way of finding good deals is to develop a relationship with home loan providers. Tell them that you are interested in foreclosures and pre-foreclosures. Foreclosures are normally sold at a much lower price than the market value because the lender is in a hurry to recover the loan as quickly as possible. Lenders can also help in letting you know of properties that the company considers as pre-foreclosures so that you can keep an eye on it and try to short sell.
Gift of the Gab
Be prepared to tell anyone who is ready to listen (doesnt make a difference even if they are pretending to) that buying real estate is your business. You never know wherefrom your next lead is going to come. It may come from your hairdresser or a chance acquaintance at a party where you casually mentioned that you buy houses. The idea is to spread the word by any means. Consider sending emails, newsletters or create a real estate website and direct traffic to it. You may also try existing real estate websites and check if they have forums, blogs or discussion boards.
Flyers to Selected Neighborhoods
This is a very cost effective method of generating leads and finding good deals. You can get 10, 000 double sided flyers printed at the cost of $500. Hire someone to put them in every door in targeted neighborhoods. Even if you get one good deal you will be able to recover your cost and also make a substantial profit.
Remember that you should have at least three lead generators active at any given point of time. It is important to know and keep track of which lead generators are giving you motivated sellers. The moral is to stick to those that work the best.About the Author:
Terry Smith is a real estate entrepreneur who is also a coach and mentor to many budding real estate aspiring agents. He owns Large Profit Wholesale Deals and can help you get the largest wholesale deals on property without really risking too much of your own money. Learn how you can become the best in the wholesale real estate industry by checking out the comprehensive report that tells you how to evaluate real estate properties. The Benefits Of Swing Trading Tazo Tea - History and Strategy Corporate Tax Planning? Los Angeles CPAs Can Help Get Planning For Summer With Caravans For Sale From Online Advisors Steps To Planning A Wedding Timber Garden Shed Plans | Planning a Timber Garden Shed Planning An Affordable Michigan Wedding Key to Options Trading Success Caribbean stud poker strategy Strategies For Revising A Paper - Secret Tip ! Long-Term-Strategy Planning For A Successful Wedding- Tips To Avoid Disappointment Boost Your Business With Employee Training