The first step to being a successful real estate investor is learning how to find investment properties for sale. Knowing where to find investment properties is the foundation on which the career of a real estate investor is built. However, finding houses for sale is often challenging, even for some seasoned investors. Many investors who are just starting out have little knowledge of where to find real estate deals. The good news is that you can find investment properties for sale near you through a number of ways. Here is an overview of some of the ways to find investment properties for sale near you and how you can use them:
1. Networking
Networking is one of the best ways to find investment properties for sale, particularly off-market properties. Since the general public may not be aware of such properties, you may be able to acquire them at a lower price. To network, you will need to put yourself out there and get new contacts. Join investment clubs and attend real estate events around your area. You will meet other investors and real estate professionals who are a potential source of leads. It may be quite scary at first, but with enough practice, you will eventually become better at real estate networking.
Apart from connecting with real estate investors and professionals, you can also find investment homes for sale from your family, friends, and professional contacts. Tell people you know that you are looking for an investment property. They may be looking to sell their property or know someone who wants to sell.
Related: How to Build and Maintain a Real Estate Investment Network
2. Hire a Real Estate Agent to Help You Find Investment Properties for Sale
Another way you can find investment properties for sale is by working with a real estate agent. With their knowledge and experience, they will guide you through the whole process of buying a profitable investment property. Real estate agents have access to real estate resources which you may not have. You could also benefit from their connections. An experienced realtor has worked with many other agents, investors, and real estate professionals who may be a good source of leads.
Buying an investment property is different from buying a regular home since you need to find one with a good return on investment. Therefore, make sure you find a real estate agent with investment property experience. They should also be familiar with the real estate market you want to purchase in.
Check out our list of licensed real estate agents.
Related: Do You Need to Find a Real Estate Agent to Buy Investment Rental Properties?
3. Use Real Estate Websites (The Best Way to Find Investment Properties for Sale)
Online real estate websites are a great place to find real estate investment deals. They allow you to do your investment property search from the convenience of your computer. Investors can use these real estate websites to search for all types of income properties, including commercial properties, single family homes, and multi family investment properties for sale.
There are many different websites that are specifically designed to connect properties with real estate investors. Apart from investment property listings, these websites usually offer a variety of resources such as detailed property analysis, neighborhood information, and more.
The best way to find investment properties is to use Mashvisor. With Mashvisor, you can find investment properties for sale in any city and neighborhood in the US housing market. You will also be able to perform neighborhood analysis and investment property analysis for income properties on the platform. Other popular real estate websites you can use to find real estate investment properties include Trulia, LoopNet, Auction.com, and Craigslist.
Related: What Are the Best Real Estate Websites That Every Investor Needs to Know About?
4. Check Out Print Media
Print media is another great way to search for investment properties for sale. You can find ads for real estate investment properties for sale in newspapers, brochures, magazines, and local marketing publications. Be sure to look in a variety of print media for your chosen region.
5. Market Yourself
Though you may need to put in some money, marketing can also be used to find investment properties for sale. You can put up an advert on social media, real estate websites, or traditional media to let people know that you are looking for a real estate investment for sale. Local property sellers may see the advert and contact you.
6. Look for Real Estate Auctions with Investment Properties for Sale
Real estate auctions can be a great place to find off market investment properties for sale. These are usually foreclosures and REOs. Be sure to browse auction websites like Auction.com and RealtyTrac for potential real estate leads. You can also keep track of property auctions through your network or at the county courthouse.
7. Driving for Dollars
Real estate investors can find investment properties for sale by simply driving around neighborhoods. Owners who don’t want to pay advertisement or real estate agent costs may just put “For Sale” signs on their properties. If you can find these signs, get in touch with the sellers directly.
The driving for dollars strategy is also used in finding distressed investment properties for sale since they are easier to spot. Simply watch out for properties with overgrown yards, boarded up windows, etc. You can then search for the property owners in county records or using Mashboard, reach out to them, and inquire about the status of the property. Depending on the area you live in, driving for dollars could be a practical way to find off market investment properties for sale. However, this strategy can be time-consuming.
The Bottom Line
If you are looking to start a real estate business, it is likely that you will need to buy an investment property at some point. Therefore, knowing how to find investment properties for sale is crucial. As you can see in this guide, there are many different ways to find investment property. To give yourself the greatest chance to find a good investment property, you should use a variety of methods.
Are you thinking of starting your real estate career? Be sure to use Mashvisor to learn more about real estate investing for beginners, including how to find investment property for sale. You can also use our real estate investment tools for investment analysis. This will ensure you find the best income properties!
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